27 OCTOBER 1923, Page 1

The amount demanded from Germany, General Smuts continued, must be

reduced to a reasonable sum. For- tunately, there was already something like agreement on that subject, but it would also be necessary to allow Germany a moratorium, probably of at least two years. If only all the Governments would behave reasonably the thing could certainly be done. As it was, France, though continually professing to carry out the Treaty, was substituting her own scheme of dealing with Germany for that in the Treaty. The French hated the word " revision," yet they were actually revising the Treaty.

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