It will be interesting to see whether the extraordinary uncertainty
of events in France will provide an oppon: tunity for M. Caillaux to return effectually to politics. Of course, he is still suffering under the disability imposed upon him by law to take any public office or to visit Paris. Nevertheless, he is rightly thought of as an exceptionally able financier, and his name cannot be forgotten when there is a general recognition that Frenchtroubles are in the main financial. The Times corm= spondent says that when M. Caillaux opened his electoral campaign at Montpellier he had an enthusiastic welcome. He declared that France must turn to a policy of con- ciliation and of generous understanding with her neigh- bours if she was to avoid further sacrifices of life and to save herself from sinking into the condition of a vassal state. "It is vassalage," he cried, "to live under the flag of the pound or the dollar." The only way was to regain the confidence of creditors, and that France had lost.
