Towards the end of the statement of the Treasury come
the words :— " No complaint has been made by Great Britain against the adverse discrimination with which she has been treated. It is recognized that the creditor is entitled to discriminate between debtors and that the debtor is bound to comply with the demands of the creditor up to the full limit of the obligation.", We have expressed the same feeling in a leading article, and since the question has been raised by others we can mention our appreciation of the line taken by the New York World which has condemned Mr. Mellon's statements very forcibly. In our. desire too to leave the question alone we have until now incurred perhaps a suspicion of ingratitude (of which we were not guilty) to Mr. F. W. Peabody, of Massachusetts. We Were well aware of the brotherly spirit in which he has been agitating for more generous treatment from his country to the Allies and to us in particular. He can say what we must not say if the passage quoted from-the Treasury statement is to stand.
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