Will they say: the English are so very different that they never ought to pay any debts?

Or will they, and is it not true, leading them to pay, the English retained with ten thousand or hundred thousand guinea brief for the English debtors? Will they take refuge behind the ingenious French writer Milhaud, and advance the argument that if you can't pay a debt this year, you really ought not to pay it.

Because if you pay it, it will prevent you from spending that money again indefinitely in the way of purchase of core American novelties, and if you (the English) don't go on buying American novelties, then that will be BAD for the American market. It will in fact knock American sales most distressingly. And international commerce will come to a standstill at least between the U.S. and England?

So much for the English attitude toward the question. The English will see it in their own way. But from the American angle? What of the American angle?

After the two hundred yearslein on Newfoundland and the rest of England's western possessions has been transferred into full ownership by the Americans, and after India has passed into Japanese hands, or into her own hands, or into the control of American finance, with a top-dressing of Asianic independence; just what will the Americans hope to be paid with by the English who still owe them something?

Obviously England can not produce finished goods without raw materials, and obviously she want have her profits from what were once her chief markets; and if the Americans and the Axis powers own all the raw stuff, and control all the markets, just what more do they expect to squeeze out of England IN return for what they have leased her, and lent her

I can only conclude that these points constitute parts of the mutual headache, which Winston Churchill is insolvent, has been generously sharing with Winston Churchill during the whole of hostilities in Washington, while waiting for Hitler to take up his mind which of their countries is most mature; that is most nearly true for some sort of internal structural change.