It is deuii-officially announced that the French Government has no
intention of trying to pay the Germans out at once. They probably would not go until their new fortifications were completed. What M. Thiers hopes to do is to pay two milliards by July 1, 1873, thus clearing the territory with the exception of Belfort, and to induce the Germans to accept security for the third mil- liard, and quit France during 1873. It should not be forgotten that while M. Thiers is most anxious to relieve the provinces of the Germans, he may not be quite so anxious for their total departure, which might materially diminish his own authority. The German papers affect to regard the Loan as unimportant, but point out that in raising it from all Europe M. Thiers has incurred to all Europe financial obligations.