Mr. Reginald McKenna, whose views on financial problems always deserve
most careful consideration, told a meeting of American bankers at Chicago on Tuesday that, if he had the power, he would cancel all our loans to our Allies. The amount of those loans was equivalent to our debt to America, which, he remarked significantly, must be paid in goods, if at alL Mr. McKenna declared that he was doubtful whether the money that we might receive from Germany in reparation would be a curse or a blessing.
" I would rather see our people well employed, I would ratite! see them producing wealth in great quantities, than receive the dribble of wealth from. Germany at the cost of our people being unemployed and suffering."
For Germany, in order to pay, had to export large quantities of goods, and the value of the mark was continually depreciating, so that she could undersell us in the world's markets. But until we could sell our goods our people would remain unemployed. Mr. McKenna said plainly what a good many people are thinking.
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