VII

REMEDIES

257

it as men should. It was their efforts, their energy,and the American resources placed by the Presidentat their disposal, often acting in the teeth ofEuropean obstruction, which not only saved animmense amount of human suffering, but averted awidespread breakdown of the European system. 1

But in speaking thus as we do of American financial assistance, we tacitly assume, and America ,I believe, assumed it too when she gave the money,that it was not in the nature of an investment. IfEurope is going to repay the £2,000,000,000 worthof financial assistance which she has had from theUnited States with compound interest at 5 per cent,the matter takes on quite a different complexion.If America 's advances are to be regarded in this light,her relative financial sacrifice has been Very slightindeed.

Controversies as to relative sacrifice are verybarren and very foolish also; for there is no reasonin the world why relative sacrifice should necessarily beequal,—so many other very relevant considerationsbeing quite different in the two cases. The twoor three facts following are put forward, therefore,not to suggest that they provide any compelling

1 Mr. Hoover was the only man who emerged from the ordeal of Paris with an enhanced reputation. This complex personality, with his habitualair of weary Titan (or, as others might put it, of exhausted prize-fighter), his eyes steadily fixed on the true and essential fauts of theEuropean situation, imported into the Councils of Paris, when he took partin them, precisely that atmosphere of reality, knowledge, magnanimity,and disinterestedness which, if they had been found in other quarters also,would have given us the Good Peace.