ENGLAND'S HONOUR.

New Zealand Listener, Volume 2, Issue 48, 24 May 1940, Page 12

ENGLAND'S HONOUR.

The Editor, "The Listener." Sir,-Without occupying several pages (which I cannot venture to believe you would supply) it would be impossible for me to expose and refute all the false statements and inferences put forward by "Locksley Hall" and Mr. Seymour, "Locksley Hall" claims that England greatly profited by her default; Mr. Seymour that she thereby incurred calamitous losses. Both cannot be right. Neither is right. ; Both claim that England’s action was dishonest. As for myself, I deeply regret England’s default, but it was quite inevitable. No answer has been attempted to my contention that repayment of the debt could be made only in ‘goods. Nor is any answer possible. Equally certain is the fact that the United States demanded payment in gold, well knowing that that metal did not exist in anything like sufficient quantity for the purpose, and they should have known that the gold would be of no use to them when they had got it. Their tragically ignorant policy has upset the financial balance of the whole world. I would remind my attackers that England paid more than all other debtors of the United States put together, and she forgave her own debtors double the amount of the American debt which she avoided. Also it should not be forgotten (1) that various States in the Union have heavily defaulted to Great Britain; (2) that by devaluation of the dollar the United States robbed English investors of 40% of their holdings of American securities. When the loans were made President Wilson said, "We seek no material compensation for the sacrifice we shall freely make." Senator Kenyon said: "I hope that not one of these loans will ever be paid and that we will never ask that it be paid." Many other prominent politicians made similar speeches. It was not until 1922 that any demand was made. Most Americans recognise the insurmountable difficulties with which England was beset, and the fact that 84% of them desire that victory shall be hers seems to indicate that resentment is very slight. The fact is that the huge United States is sheltering behind England (with one-third of her population) and is leaving her to fight the battle of freedom alone. Should England suffer defeat the United States will most assuredly "get it in the neck." "Locksley Hall" and Mr. Seymour are welcome to their place in the ranks of those whose pleasure it is to display their hatred of England and do their utmost to besmirch her name and detract from her greatness. I blush for them. As for me, I make bold to say that I am an Englishman, and that the enemies of England are my enemies. Yours, etc.,

E. EARLE

VAILE

Auckland, May 19, 1940.