14 AUGUST 1926, Page 2

This letter possibly turned the scale ; more probably M.

Poincare had already given way to M. Marin and others of his Cabinet who are against ratification of the debt agreements. The question has been referred to a small Committee and it looks as though no definite step will be taken this summer. M. Poineard apparently resigns his hopes for foreign credits, though it was thought before that M. Franqui persuaded him of their necessity. At present his efforts on behalf of the franc consist of forming two Cabinet Committees to deal with economies and a conservation of supplies, including coal.

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