It was agreed among the Allies at Spa that the
pay- ments made by Germany should be divided in the follow- ing manner: 52 per cent. for France, 22 per cent. for Great Britain, and the rest for Belgium and the other Allies. £2,500,000,000 thus divided would give France the £1,300,000,000 which M. Poineare claims. This, by the way, is not a new proposal, as he has mentioned the sum on previous occasions. If this were to be the arrangement, however, Great Britain would not get out of Germany quite enough to cover her debt to America. She would be short by £160,000,000. M. Poincare hopes that we might make good some of this loss out of unexpected payments from Germany in the form of C Bonds. But in any case, he says, }ranee must have her £1,800,000,000; Reparations must have priority over all Allied debts.
