FINANCIAL TOLERANCE

In the pleasant reaction which the settlement of the Italian war debt has provoked in this country there is a certain assurance of hopefulness. For the walls of the few have been lost in the applause of the many.

In the matter of war debts this certainly implies a change in public opinion. Evidently there is no longer a continuous hue and cry for the eye for eye and ducat for ducat of a less understanding past. The Italian government has been allowed to make terms of a lenient kind.

Indeed, the American debt commission for once has been bold enough to measure payments in terms not alone of money but of international good will. They have realized that a certain breadth of vision now means a chance to witness a more stable Italy of the future. This parley may rightfully be acclaimed one of great moment.