I therefore most
earnestly trust that the Liberal party will take this question up, and
translate it into practical politics. For that is what is required.
REPARATIONS AND INTER-ALLIED DEBT
BY JOHN MAYNARD KEYNES
M.A., C.B.; Fellow of King's College, Cambridge; Editor of _Economic
Journal_ since 1912; principal representative of the Treasury at the
Paris Peace Conference, and Deputy for the Chancellor of the Exchequer
on the Supreme Economic Council, Jan.-June, 1919.
Mr. Keynes said:--I do not complain of Lord Balfour's Note, provided we
assume, as I think we can, that it is our first move, and not our last.
Many people seem to regard it as being really addressed to the United
States. I do not agree. Essentially it is addressed to France. It is a
reply, and a very necessary reply, to the kites which M. Poincare has
been flying in _The Times_ and elsewhere, suggesting that this country
should sacrifice all its claims of every description in return
for--practically nothing at all, certainly not a permanent solution of
the general problem.
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