And from such a loan, after
meeting Belgian priorities and Army of Occupation costs, there would not
be left any important sum for France.
I see no possibility, therefore, of any final settlement with M.
Poincare in the immediate future. He has now reached the point of saying
that he is prepared to talk sense in return for an enormous bribe, and
that is some progress. But as no one is in a position to offer him the
bribe, it is not much progress, and as the force of events will compel
him to talk sense sooner or later, even without a bribe, his bargaining
position is not strong. In the meantime he may make trouble. If so, it
can't be helped. But it will do him no good, and may even help to bring
nearer the inevitable day of disillusion. I may add that for France to
agree to a short moratorium is not a great sacrifice since, on account
of the Belgian priority and other items, the amount of cash to which
France will be entitled in the near future, even if the payments fixed
last March were to be paid in full, is quite trifling.
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