Clearly the negotiations for a Pact which deserves the title
of " mutual " are only beginning. In the mean- time the French Agency, Havas, has published what purports to be a summary of the Franco-British document. This summary has caused great satisfaction in France as it is held that Great Britain has virtually conceded all that France desired. There is in it hardly any reference to mutuality, and without wishing to intro- duce into the discussion any criticism which may seem premature or to say anything unnecessarily damping —for we would rejoice quite as much as the French themselves at a real and sound agreement between our two countries—we feel bound to say that the Havas forecast is incredible. The very publication of it was dangerous, for if it were taken quite seriously it would throw Germany into such a depth of dis- appointment or resentment that there would not be very much hope for the Pact.* *
