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 and a triumph for that of violence. But it is an act of sacrifice rendered necessary by events. Any possibility of repeal is ruled out by the opening of old wounds in Alsace-Lorraine. And because the Army Act must stand, the Loan must go through. On that point, doubt is inadmissible: ''la nouvelle France'' has made up its mind. The conditions of issue of the new Rente, its immunity or otherwise from taxation, even its amount, are questions in controversy. The discussion on them, so far as it has proceeded, has been of extreme interest as an illustration of French acumen in public finance; it may become a text-book instance in due course, and it might even be studied with profit by the financiers of the new Irish Land Act. The French Treasury has already lost by the delay, but, borrowing in its own market, it will at all events operate on better terms than any of the other borrowing nations, now clamouring for admission to it. But however details may be arranged, the fact that there must be an issue is a thing settled. The new France is, in short, possessed of the spirit of sacrifice. The patriotism that is in fashion is sincere enough to pay the piper from whom it has called the tune.

But it is in the region of ideas, rather than in that of current policy, that we must seek for the key to the future. It would be extravagant to say that the mocking hatred of Christianity has been banished, and that the vendetta against the Church