Note 65 — Chapter V

They included the right to hold four more Departments until the third half milliard (£20,000,000, that is, £60,000,000 in all) had been paid. A commercial treaty on favourable terms, those of the "most favoured nation," was arranged, as also an exchange of frontier strips near Luxemburg and Belfort. Germany acquired Elsass (Alsace) and part of Lorraine, free of all their debts. We may note here that the Anglo-French Treaty of Commerce arranged in 1860 with Napoleon largely by the aid of Cobden, was not renewed by the French Republic, which thereafter began to exclude British goods. Bismarck forced France at Frankfurt to concede favourable terms to German products. England was helpless. For this subject, see Protection in France, by H.O. Meredith (1905).