A Doubtful Victory.

Evaluates the success of French government in solving the current currency question. Offensive strategy of the government to appreciate the value of a franc, French monetary unit, against a cent, monetary unit of the U.S.; Question on the rapid and increased use of gold and silver reserves to achieve this appreciation; Percept that the franc was forced down by the machinations of a ring of exchange speculators, chiefly German or in sympathy with the Germans; Analysis of the relation between reserves and expenditures; Evaluation of financial measures of Prime Minister, Raymond Poincairé Analysis of prospects of an improved reparations settlement as a result of the expert commission's work; Need for recovering people's confidence in national financial strength; Promise by Poincaré that expenditures will be kept down to revenue and no loans will be raised except for the refunding of short term bonds; Significance of recent fluctuations of the franc for future financial planning.