25 AUGUST 1923, Page 2

In the first annex M. Poincare replies paragraph by paragraph

to the British Note of August 11th. The general effect of it is to give specific instances in support of the arguments already advanced. The manner is often acid and severe, which is in contrast to the courteous and friendly tone of most of the Note proper. Not that we complain of this, for nothing was to be expected but a stiff answer to the British Note which was itself rightly severe.