25 JULY 1925, Page 2

The German reply to the French Note on the proposed

Security Pact has been received in Paris. It is friendly and reasonable in tone and though it raises various difficulties it makes it distinctly easy for regular negotia- tions to be opened. Rumour had said that Germany might insist upon a preliminary understanding upon very important points as an antecedent to negotiations. Fortunately, she has been wise enough, though plainly suggesting her objections, to reserve the serious discussions for the proper time and place. To our mind the most important statement in the Note is the declaration that Germany will not raise any objection to linking up the two questions—the Pact and Germany's entry into the League.