The inexorable experts droned on, grinding out a plan for German Reparations. When the Anglo-Saxon bankers three weeks ago forced Poincaré to agree to accept the Dawes report, the tough, wiry little French Premier had to swallow a big, bitter pill. But when the swelling volume of anticipatory roars, groans and squeals arose from across the Rhine and when the very idea of such a plan gave gooseflesh to the goose-steppers, the French decided that the Dawes plan might not be such a bad thing after all.

So Poincaré announced that the...

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