Note 13 — II. BLESSINGS OF WORK.

M. Clemenceau's "Justice" said on April 6, 1880, in its financial department: "We have heard this opinion maintained, that even without pressure the billions of the war of 1870 would have been equally lost for France, that is under the form of loans periodically put out to balance the budgets of foreign countries; this is also our opinion." The loss of English capital on loans of South American Republics is estimated at a billion dollars. The French laborers not only produced the billion dollars paid Bismarck, but they continued to pay interest on the war indemnity to Ollivier, Girardin, Bazaine and other income drawers, who brought on the war and the rout. Nevertheless they still have one shred of consolation: these billions will not bring on a war of reprisal.