It must also be remembered that when we borrowed the
money from America during the War the interest agreed on was 5 per cent. The American terms are not in the nature of a pound of flesh, but it must be admitted that the burden on our taxpayers is going to be terrible 100 —so terrible, indeed, that we believe that if the American people could be made to realize the immense difference which even a concession of a half per cent. means when expressed in terms of new taxation they would feel that they must find some way to make the load less deadly. After all, there arc ways of doing this without imposing any burden on America. Could not these avenues be explored ? But we must not forget that our part is to pay our debts and that, whatever else happens, we are not going to repudiate a penny of our obligation.
