After almost a year's struggle in the Ruhr, France and Belgium seem to have vindicated their occupation by securing a promise from the German industrialists to make reparation deliveries to the Allies. Actually, however, the French have received nothing but a promise, and, although reparations are in sight, there are many things within the comparatively quiescent political orbits of Europe that may balk the French in realizing these German promises.

The outline of the reparations agreement, signed at Düsseldorf by Herr Vogler of the Deutsche-Luxembourg coal mines on behalf of the...

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