Meanwhile French policy has obtained one of its objects in
the conclusion of an agreement with the chief Industrialists of the Ruhr, including Herren Stinnes, Vogler and Klockner. Thus the control of the Ruhr has passed definitely into the hands of France, who has won another " victory." It is certain that the Ruhr under its French management will not for a long time be able to produce anything comparable with the output before the occupation. A sensible Frenchman might exclaim, with Pyrrhus, that a few more victories like this will ruin him. All the same, there is certainly a prospect— at the price—of more industrial activity in the Ruhr than for a long time. The nice question instantly arises as to what attitude Great Britain will adopt if and when France allocates some of the products of the Ruhr for reparation payments. We imagine that Great Britain could not touch such payments after expressing her solemn opinion that the French occupation of the Ruhr is illegal,
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