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What is the present capacity of France to pay ?

Lord Bradbury has estimated that France could pay in dis- charge of her debt to Great Britain and America between £40,000,000 and £50,000,000 a year without the help of German reparations. But reparations would almost certainly be a great help as it must be remembered that under the Dawes Scheme France is allotted 52 per cent. as against the 22 per cent. allotted to Great Britain. It is unfortunate that Frenchmen have never really consented to tax themselves adequately. The tax- ation in Great Britain amounts to £15 7s. 2d. per head, but in France it is only £7 Os. 11d. per head. * * * *

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