M. Poincare, of course, makes some reservations in , advance. He
says that France must retain the pledges . she has taken, although she is willing to help the Reich to restore its currency and finances. The position may be described summarily by saying that there are, as yet, - no negotiations worthy of the name, but that M. Poincare • has opened the door and is keeping it open. Germany, for her part, has informed M. Poincare that complete authority in the Rhineland and the Ruhr up to the limits of the Treaty must be restored to the German Govern- ment, and that there must be a moratorium, facilities for a foreign loan, and a final revision of the whole repar- ation problem. Another sign of grace in Paris is that there is some talk of funding the French debt to America. We have written on the whole subject elsewhere.
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