"Answer to Poincare"
On June 7 last Chancellor Cuno made the following offer to the Allies:
Total "indemnity " of $7,500,000,000; annual payments of $265,600,000 beginning 1928 if an international loan were not immediately available; guarantees pledging Federal railway system; capitalized at $2,380,000,000 and a like sum guaranteed by a gold 5% mortgage on business, industry, banking, trade, traffic, agriculture.
The Allies never replied. France and Belgium refused to do so until the Germans ceased passive resistance in the Ruhr. Britain has been engaged in the interval in persuading France and...