Altogether, if Great Britain accepts as low a sum as
£9,000,000 a year from Italy our debtor will have escaped lightly. These are hard and (let us repeat the word) unpleasant facts. We are certain that the settlement will, nevertheless, be discussed with good will on both , sides, for the British nation has nothing but the most, fifendly feeling for Italy, and a desire to help her as tar, as humanly possible: We need add only a few words _ . in deprecation of the habit of pretending that a debt is not' really a debt beiause it may he counterbalanced by some wholly extraneous considerations, moral or sentimental. If such considerations are to he taken into account it is for the creditor, not for the- debtor, to suggest them. We are thankful that Mr. Baldwin remem- bered this elementary principle of business when he funded 'the British debt to America. We publish this week a letter from an Italian which is characteristic of many appeals to Great Britain that are appearing in the Italian newspapers: It is -only right, heWever, to add-that-the -Italian Government has dissociated itself from any such arguments.
