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Full text of "War-time financial problems"

i8      LONDON'S. FINANCIAL POSITION *

In this field we have very much to learn from the English
business man. Long commercial tradition and interna-
tional business experience have taught him long ago that
broad-mindedness is the best business principle. Look at
the English form of contract, the methods of insurance
companies, the settlement of business disputes! You
will find no narrow-mindedness there. Tolerance,
another quality which the German lacks, has been of great
practical advantage to the Englishman. Until recently
the City has never resented the settlement of foreigners,
who were soon able to win positions of importance
there. Can one imagine that in Berlin an Italian or a
South American, with very little knowledge of the German
language, would be not only entrusted with the manage-
ment of leading banks and companies, but would be
allowed in German clubs to lay down—in their faulty
German—the law as to the way in which Germany should
be developed ? Impossible! Yet this could be seen
again and again in England, and the country gained
greatly by it. If the English have now developed a
hatred of the foreigner, it only means that the end of
England's supremacy is all the nearer."

According to our German critic the great fabric
that has been built up on these characteristics and
qualities is threatened with ruin by the war; and
the heritage which we are supposed to be losing is
to fall, by some process which is not made very clear,
largely into the hands of Berlin. In order that we
may not be accused of taking the laudatory plums
out of this German pudding and leaving out all
criticisms and accusations, let us quote in full the
passage in which he dances in anticipation on
London's corpse:—

" Let us sum up. England's reputation for honest
business dealing and for trustworthy administration has