M. Poineare went on to speak of French finances au
the foreign debts. It was remarkable that he said noth. about the rapid stabilization of the franc. It will remembered that the Report of the Experts, which M. Poincare's Government professes to have accepted bodily, declared that no budget could be balanced till the franc was stabilized. Yet M. Poincare expressed the opinion that stabilization would be reached only at the end of a long process in which improved trade would be one of the most important influences. That looks like putting off stabilization indefinitely for, according to the Experts, no improvement in trade could be expected except on a basis of stabilization. As regards the foreign debts M. Poincare's speeches were also nebulous. He said that all the facts had been submitted to the Parliamentary Commissions and that he hoped the subject would soon be debated. He admitted France's need of foreign capital but repudiated any scheme—no doubt he had the Dawes Scheme in his mind—which would injure the dignity of France. Meanwhile the enemies of the Government are moving heaven and earth to bring the Government into ill-repute.
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