ABSTRACT
This chapter discusses the effect of the extended credits of America to Europe. The United States is owed by Europe a capital sum of £1,948 millions. On a smaller scale altogether the same thing might be said to be going on in the case of Great Britain’s war debts, owed to her by the Continent. The post-war financial system is trying to solve its problems and to liberate production, but a great deal depends upon whether it has the courage to face debt problems both nationally and internationally, and upon whether there are sufficient areas in the world which need development and the export of capital and goods to enable the economic system of Europe, so dangerously wounded in the World War, to recover from its wounds.
