Senator, Economist and Historian Argue on Proposed British Loan

The shrewd analysis of an economist and the human reaction of a representative of the American electorate were brought into play last night as the proposed $3,750,000,000 United States loan to Great Britain was debate at the Law School Forum in New Lecture Hall.

Economics Professor Edward S. Mason, former deputy to Assistant Secretary of State Clayton, and Colorado's Senator Edwin C. Johnson assumed pro and conpositions respectively on the question of the loan; while Crane Brinton '19, professor of History, set the stage with a discussion of the political and social aspects of England today; and David Edward Owen, associate professor of History, acted as Moderator.

"It is a matter of elementary economic interest of the United States for us to favor the proposed loan," Professor Mason asserted. "It is not a commercial proposition: it is merely a loan from the U.S. to Britain, in which she gets financial assistance and in return gives us cooperation in promoting our international program. Without her cooperation we can't get anywhere. And without the loan, Britain cannot participate fully in the program."

Senator Johnson, who said the current Senate hearings on the proposed loan were "most disappointing,' opposed the loan because he believed it would not completely solve Britain's problem and that it would establish a precedent of granting foreign loans which the U.S. could not continue. "We cannot make England well by rubbing a little salve on her chest," he declared. "What she needs is a major operation."

As a solution, the Colorado Senator advocated a conference among the leading nations and the setting up of "multilateral agreements" which would provide loans and payments by countries other than the U.S.

Professor Mason described the current British, domestic situation as "rosy." The end of the war found England with us much or more industrial equipment than she had before, essentially strong as a population, with great advancements in technological and industrial development, and with a solution to the unemployment problem, he said.

On the other hand, the international aspect of Great Britain, according to Professor Mason, is "extremely bad."