The French refusal to give any sanction to either reparations or armament reductions has been a serious blow to those optimistic of the results at Genoa. But Barthou has announced frankly and firmly that such proposals will not be even considered, inasmuch as France is perilously insecure in her position. Even the inclusion of those problems in the Russian proposals does not seem likely to shake her resolve.

Nor it it possible altogether to condemn the attitude. Twice France has been burned, and burned severely, for lack of sufficient protection against German fire, and naturally she has no desire for a third experience. Furthermore, as M. Barthou pointed out, Chancellor Wirth has given her no reason to regard her old enemy as a penitent sinner. Agreements signed by the Germans are still mere scraps of paper--as witnessed by the refusal to keep the reparation promises. Her troops, too, keep having unpleasant little experiences with bombs while carrying out the provisions of the treaty. Only a day or two ago, while the Conference was in session, twenty French soldiers were killed in this way. France says she wants peace--she surely has every reason to--but she considers that the only secure way of obtaining it is to keep Germany stripped bare long enough to force it upon that nation as a whole that war is an impossibility. In short, she feels that Germany commercially rich means Germany out for revenge, and she cannot take the chance.

On the other hand France's policy means that there can be no reduction in Europe's armies, and that the nations, large and small, must continue their back-breaking armaments to keep the pace already set. Under such circumstances economic stability is exceedingly unlikely, as it is in large measure the cost of standing armies which requires the issue of paper money and which has caused the wild disregard of budgets now prevalent in many countries.

Apparently Europe must learn for herself that the only way out of the present situation lies in open dealing and mutual confidence. Until then economic stability and prosperity are practically impossible. Meanwhile, the lesson seems to be a hard one, and the temptation still great to make use of the familiar phrase. "After you".