Sheltered by this heroism the nation has lived and labored, accepting all the consequences of the war, and domestic tranquillity has never been troubled.

The Minister of Finance has laid before you in a masterly statement the financial situation and has explained the resources that we have obtained from the issue of Treasury bonds and advances from the Bank of France, which have enabled us to bear the expenditure imposed by the war, so that we have not had any need to resort to a loan. The Bank of France is in a position, thanks to its excellent condition, to furnish resources to the Treasury and to aid in the resumption of the economic life of the country.

Everything serves to demonstrate the vitality of France, the security of her credit, the confidence which she inspires in all, despite the war which is shaking and impoverishing the world. The state of her finances is such that she can continue the war until the day when the necessary reparation has been obtained.

Gentlemen, it is not sufficient for us to salute the victims who have fallen on the field of battle. We must uncover also before the civil non-combatants and innocent victims who up to now have been protected by the laws of war, but whom, in order to terrify a nation which is and will ever remain unshaken, the enemy either captured or massacred. The Government has done its duty toward their families, but the debt of the country is not yet discharged.

Under the force of invasion, departments have been occupied and the ruins in them have accumulated. The Government solemnly undertakes before you—it has already partly carried it out, and has asked for a first credit of $70,000,000—that France will rebuild again those ruins, and the carrying out of this work will certainly be borne in mind in the indemnities which we shall exact.

The day of a definite victory has not yet come. Our task until then will be heavy, and it may be long. Let us bring all our strength to bear in the carrying out of this task. Our allies know that we will do so, as well as the neutral nations, and it is in vain that a wild campaign of false news has been set on foot. If Germany at the outset pretended to have any doubt as to the attitude of France, she no longer doubts.

Let Germany bear witness now that when the French Parliament reopened after over four months of war, it has renewed before the world the spectacle it offered on the day when, in the name of the nation, it took up the challenge.

To conquer, heroism at the frontier will not suffice. It is necessary also to have internal union. Let us continue to preserve this sacred union from any blemish today, as in the past, and in the future. Let us keep before our minds the one cry of victory, the vision of our motherland, and the ideal of right.

That is what we are fighting for and what Belgium is still fighting for, Belgium, who is giving to this ideal all the blood in her veins, and what also unshakable England is fighting for, as also faithful Russia, intrepid Servia, and the audacious Japanese Navy.

Nothing more sublime has ever presented itself before the eyes of men than this struggle against barbarism and despotism, against a system of provocation and continual threats, which Germany called peace, against a system of murders and collective pillage, which Germany called war, against the insolent hegemony of a military caste. France with her allies has let loose the scourge of war against all these. France the emancipator and avenger has sprung up at one bound.