That the critical feature of the situation in Europe at the present time is the attitude of the United States toward the work of stabilization, was the statement made by Mr. Edward A. Filene of Boston, in a talk which he gave after the dinner of the Student Liberal Club in the Union last evening. "I have spent a good deal of time in Europe studying conditions there," said Mr. Filene, "and what I have seen has convinced me that the European nations will follow the example of the United States in the work of rehabilitating European business.

"If America cooperates with Europe by extending credit, all will be well; but if she does not do her share in the work of stabilization, she will be compelled to do her part in remedying the conditions which will arise out of the present jumbled economic situation in Europe. If the United States falls to do her part in reorganizing Europe, a new balance of power will be established, and this will entail a large number of petty disputes, warfare, and general disintegration of the political and economic structure."