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25 May

How much truth is there in all this? Has our reputation for honest

dealing and for trustworthy administration suffered? Surely not in the
eyes of any reasonable and unprejudiced observer
How much truth is there in all this? Has our reputation for honest
dealing and for trustworthy administration suffered? Surely not in the
eyes of any reasonable and unprejudiced observer. In the course of the
greatest war in history, fought by Germany with weapons which have
involved the violation of the most sacred laws of humanity and
civilisation, England has acted with a respect for the interests of
neutrals which has been severely criticised by impatient observers at
home. As for our ‘insular inviolability’ having been put in question,
it certainly has not, so far, suffered any serious damage. Our Fleet
has defended us from invasion with complete success, and the damage
done by marine and aerial raiders to our property on shore is
negligible. Our free gold market is said to have broken down. The
proof of the pudding is in the eating. Germany, when the war began,
immediately relieved the Reichsbank from any obligation of meeting
its notes in gold, and frankly went on to a paper basis. England has
already shipped well over 200 millions in gold to America to finance
her purchases there and those of her Allies.

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