The funding negotiations with Great Britain will take place, probably, in November. However willing or able Great Britain may be to meet her obligation, we may well find it inexpedient to accept her payment in strict accordance with the terms of the funding bill. Experience has demonstrated that the actual liquidation of so huge an international debt is far removed from an unmixed blessing to. the creditor nation. But as to her ability to pay there is no doubt. Great Britain can pay, and, what is better, wants to pay. "The British Empire," the "Morning Post" wrote lately, "is built upon pride. Take away the Bri-fishers' pride and they are nothing."
Speaking of the British indebtedness to the United States, Mr. Mc-Kenna tells us that Great Britain is prepared to honour hey bond in full. Gentlemen, Britich pride and British honour have always been the finest collateral in the world.
As to France and Italy, does anyone really believe that our forgiving of their debts would in any way help the Allies to collect from Germany? Since France and Italy are perfectly safe in leaving out
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