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Show England are equally concerned and in which both have the same interest as creditors." ; He expressed the belief, based upon existing financial and economic conditions, that neither Germany nor any of the allied countries except England are in a position to meet more than a small part of their obligations, and that in the existing condition in Europe a definite postponement postpone-ment of any payment by them is desirable in the interest of all the parffes. This thought is different dif-ferent from the oft expressed declaration that America should shoulder practically all of the burden of the allied debts. . -v- ' i - i , . - ? J McKenna on Allied Debts KIOT even the most pronounced opponent of " ' the plan, originally suggested in Europe, and approved by a limited number of Americans, for . the cancellation of the allied debts, could object to the review of the situation presented to the recent convention of the American Bankers' association asso-ciation by Reginald McKenna, chairman of the London Joint City and Midland bank "and former chancellor of the British exchequer. Mr. McKenna declared at the opening of his remarks that there would be a general agreement agree-ment that there is no matter of more concern to the world's trade at present, than reparations payments and international debts. On this subject he declared that he spoke as a banker, expressing his personal views. "I approach the question solely from the economic eco-nomic point of view," he continued, "and my endeavor is to determine so far as I can the limit of the debtor's capacity to pay and the effect of the payment on the world's trade. It is , not what the debtors may justly be called upon to pay, but what they are able to pay, which we, as business men. anxious to discover the conditions condi-tions upon which prosperity is founded, must consider con-sider with the most careful attention." . , That Great firitain looks to America for cooperation co-operation in the endeavor to solve the world's economic problems and that this burden rests primarily upon the two great English speaking . nations, is indicated by Mr. McKenna's declaration, declara-tion, made further or in his speech, that "1 believe be-lieve f am justified in asking yon to treat England's En-gland's debt to the United 'States as certain to be provided for, and if this e .conceded, we shall be tree, to consider the question of the remaining international debts as one in which America am . .. |