French. The English and the French have been natural enemies for
generations. The feeling of the French toward the English is even more
bitter than their hostility to the Germans.

* * * * *

The Chinese loan, about which we have heard so many different reports,
has at last been definitely granted by a combination of English and
German capital. The loan has been described as "semi-private," but this
does not prevent it from being considered a distinct success for Lord
Salisbury's negotiations, though regret is naturally felt in England
that Germany should have a share in it. As a result of the loan, England
has secured new concessions from China, which greatly strengthen her
influence in Chinese territory and place her in a stronger position from
which to insist upon her policy of open ports.

The news comes by cable that China has agreed to allow the control of
the imperial maritime customs to be placed in the hands of a British
subject "so long as the British trade with China exceeds that of any
other powers." As the British trade is now reported to be nearly ten
times as great as that of any other power, there is no immediate
prospect of a change.

* * * * *

The sentence of Zola to a year's imprisonment and to the payment of a
fine of $600 has been only the beginning of extraordinary proceedings in
France, resulting from his trial.

Colonel Picquart, who has been a strong champion of ex-Captain Dreyfus,