If the moral results of the occupation of the Ruhr
have been disastrous, what are we to say of the economic, though economic results were the primary inducements of French action ? We expressed our belief when the troops crossed the frontier that France was going to spend five francs to collect fifty centimes, but it has proved far worse than that. She has got neither money nor coal. In a word, her economic policy has brought her to the verge of repudiation. Look at the franc, tottering on the edge of the precipice over which the mark has tumbled ! So much for direct losses. The indirect are worse. Six months ago Germany, though poor, was a debtor well worth issuing a writ against, and cultivating as a future source of revenue. Compare her position to-day, with a currency that is valueless and a population which is beginning to starve.
