One proof of M. Poincare's brilliance as- a. financier is
that he does not cling stiffly to a formula. He ha* certainly. modified his policy in regard to the settlement of international debts. In one speech he declared. that the Government Would gladly accept some arrange- ment by which the Allies and Germany could all get rid, of their debts more quickly. The labours .of Mr. Parker Gilbert, the American Agent-General for Reparations,, have evidently had vast influence. Now. that M. Poincare is conciliatory towards'. Germany to a degree, that seemed impossible three or four years ago there is, no objection to his policy from the point of view of the peace of Europe. We may hope, therefore, that he will be allowed to continue his financial wonder-working or " experiment " as he still modestly calls it.
