John N. Raphael

Whenever an official in the French Colonial Office had to refuse the application of a subordinate for leave, he would tone down his refusal with the metaphor, “We’ll try and give you leave at all events before the affaire Prieu is decided finally.” For many years l’affaire Prieu had been the Jarndyce v. Jarndyce case of the French Colonial Office, and it was almost forgotten when Monsieur Caillaux and the Figaro brought it back at a bound into the domain of actuality. The case was forgotten so thoroughly that when the Figaro mentioned it under the title of “Monsieur Caillaux’s Secret Combinations” in an article signed by Monsieur Gaston Calmette on January 8, 1914, the name Prieu was misspelled “Priou”.

The case in itself was one of concessions in Brazil. In the early years of the Third Republic a French merchant named Prieu died in France after a long life spent in Brazil. He had been a rich man and with the help of the French Consul in Rio de Janeiro had secured certain profitable concessions. At his death the French Government considered that these concessions lapsed to the State, and sold them. Monsieur Prieu’s heirs claimed from the State a considerable sum, something between £120,000 and £160,000, of which their lawyers contended that the Government of France had frustrated them. The case dragged on for many years, and in 1909, when Monsieur Cochery was Finance Minister and Monsieur Renoult Under Secretary of State for Finance (Monsieur Renoult is Minister of the Interior in the Doumergue Cabinet), the case was practically shelved.

At that time the heirs of Monsieur Prieu, after getting a refusal to their offer to abandon their entire claim against the French Government in return for a cash payment of £20,000, were inclined to drop the whole case, the legal expenses of which were becoming embarrassing. They had put matters in the hands of a man of affairs, but he and they had little hope of any result, when, according to the Figaro, Monsieur Caillaux, on January 5, 1914, sent for their representative. The Figaro declared on the 8th, over the signature of Monsieur Gaston Calmette, that Monsieur Caillaux had stated to this gentleman that the claim of the Prieu family appeared to him to be justified, that the French Government would probably have to pay from £200,000 to £240,000 including compound interest on the debt, and that a transaction might be possible if the Prieu heirs were inclined to hand over a considerable percentage on the money paid them to the French Government for political needs. Obviously if Monsieur Caillaux really did make such an offer, did really offer to settle a case which had been in litigation for years and was about to lapse, provided the claimants would agree to pay a large percentage of the money back for party needs, he made an offer which he would find it difficult to defend in Parliament or elsewhere.

The Figaro was most assertive. Monsieur Calmette declared that Monsieur Caillaux had said: “If you get this money we must get some of it. The Government has its duties, and its needs.” Monsieur Calmette went on to declare that a second interview had taken place at the Ministry of Finance the next day, the Tuesday, when Monsieur Caillaux had demanded 80 per cent. of the debt for the party coffers, and that on the Wednesday, the day before the Figaro article appeared, the representative of Monsieur Prieu’s heirs and the Finance Minister had come to an agreement on terms somewhat less onerous than the 80 per cent. mentioned at first.

The disclosure of these curious proceedings created a storm in the political world of Paris, and although Monsieur Caillaux published a denial, in general terms his contradictions were not considered very satisfactory. The article in the Figaro had of course one result. Any settlement of the Prieu case on the lines above mentioned became quite impossible. One is inclined to wonder, now, whether the claimants will proceed against the French Government, prosecute their claim again, and call Monsieur Caillaux as a witness to declare in court that he considers the claim justifiable. It was rumoured at the time that Monsieur Calmette had offered to compensate the Prieu claimants for the loss which the publication in the Figaro of their dealings or attempt at dealing with Monsieur Caillaux would entail.

Whether this offer was actually made or not will probably be shown at the trial of Madame Caillaux, for the examining magistrate, Monsieur Boucard, has questioned the parties concerned. As I have said, the Prieu case is an old one. It has been discussed in the Chamber of Deputies at intervals during the last thirty years, and the first interpellation on it goes back thirty-three years to July 8, 1881. Pierre Marcel Prieu was a candidate for Parliament in 1876 and in 1877. He died in 1899, in France, in poverty. To his last day he had protested against what he called “the theft” of his concessions by the French Government, and he had protested with such violence that he had been imprisoned for some months because of his protests. His claim was that the Brazilian Government had on August 30, and on September 6, 1879, paid the French Minister for Foreign Affairs in two cheques, one for £200,000 and one for £400,000, as a settlement of his concessions. These cheques were, he declared, made payable to the firm of Baring Brothers in London, and on January 4, 1880, the money—£600,000—was paid over by the Baring firm to the Paris bankers Hottinguer and Co. Pierre Marcel Prieu declared that the payment of this money was compensation by the Brazilian Government due to him personally for the unjustifiable seizure of thirteen merchant ships with merchandise by the Brazilian Customs. After Prieu’s death his heir, Monsieur D’Ariste, did not care to fight the case and made over his rights in it—whether with or without a quid pro quo does not appear—to relatives and friends of Prieu, who formed a syndicate for the purpose of recovering the debt or part of it from the French Government. The principal members of the little syndicate were Monsieur A. Boileau and Monsieur Prosper Sauvage. Their lawyer is Monsieur Antoine De Fonvielle, and they put their claims in the hands of a man of affairs, Monsieur Auguste Schneider. It is this gentleman who, according to the Figaro and Monsieur Gaston Calmette, called by appointment on Monday January 5, Tuesday the 6th, and Wednesday the 7th, 1914, at the Ministry of Finance, and agreed with Monsieur Caillaux to a settlement on the terms already stated.

According to Monsieur Calmette, Monsieur Caillaux bound himself to see that the full amount of the claim should be paid, and Monsieur Schneider was to sign an agreement on Saturday, January 10, by which he handed a large proportion of the money over to the party funds. Whether such an agreement was ever come to or not is the affair of the law courts. It must resolve itself into a case of hard swearing, for the contradictory assertions of both parties will be, in all probability, somewhat difficult of proof. The disclosures of these matters in the Figaro naturally enough put an end to all negotiations if such negotiations really took place.

On January 10 Monsieur Antoine de Fonvielle wrote a letter to Monsieur Calmette which I subjoin in full. It was printed in the Figaro on January 12. It is dated from Paris, where Monsieur de Fonvielle has a flat at 77 Rue du Rocher. “Monsieur le Directeur,” he writes, “I was informed at about twelve o’clock on Friday last, January 8, of the campaign in the Figaro on the Prieu affair, of which I knew all the details. There are certain mistakes in the Figaro article, and it struck me as advisable to put the people interested in direct touch with the Figaro. I went therefore, on the evening of January 8, at about half-past ten, to see Monsieur Schneider, who lives at 57 Boulevard BeausÉjour at Auteuil. Two people went with me and waited for me in a taxicab at the door of the house. I went to see Monsieur Schneider because he has for several years been the mandatory of the claimants in the Prieu affair. Monsieur Schneider has taken all the necessary steps to press the claims of the Prieu heirs with the French Foreign Office both in France and abroad, in England, and in Brazil.

“Monsieur Schneider, who was very surprised at my visit, introduced me to a journalist, Monsieur Vidal, who was with him. I asked Monsieur Schneider to go with me and see Monsieur Calmette at the Figaro office. Monsieur Schneider replied, ‘There is no reason why I should put myself out for Monsieur Calmette. He has interfered quite enough already (Il m’a assez mis des bÂtons dans les roues). If it had not been for his interference, the affair would have been settled by now.’ I then told Monsieur Schneider that Monsieur Calmette had not sent me to ask him to come, but that I thought that in his own interests and in those of the heirs, he would do well to go to the Figaro office without delay, and tell the truth and all that he knew about this business. Monsieur Vidal got up from his seat, and said to Monsieur Schneider, ‘Sir, I do not advise you to go. You must know what has been agreed.’ I insisted, and Madame Schneider, who was putting her baby to bed in a room next door, came brusquely into the room and said to her husband, ‘Do what Monsieur Vidal tells you, and do not go with Monsieur de Fonvielle.’ I insisted again that he ought to go to the Rue Drouot with me, and Madame Schneider, who showed some excitement, told her husband to do what she suggested, adding, ‘You can’t do any good by going. Besides, you know what you promised Monsieur Caillaux.’ I then thought it best to go. When I got downstairs I told the two people with me what had happened. One of them has material interests in the affair. (Signed) Antoine de Fonvielle.”

Immediately under Monsieur de Fonvielle’s letter, Monsieur Calmette published in the Figaro of January 12 letters from two members of the Prieu syndicate, Monsieur Boileau and Monsieur Prosper Sauvage. Monsieur Boileau made the following declaration: “As the papers had spoken of the Prieu affair, a meeting was called to hear what Monsieur Schneider had to say. Monsieur Schneider declared: ‘I was very much surprised at the fuss made in the papers. The affair was going to be settled, and I had an appointment to-morrow, Saturday, January 10 (the meeting was at half-past eleven on the evening of the Friday), to receive a definite proposal.’ I left the meeting with Monsieur Schneider, and as we went away together he made this remark to me: ‘If the affair succeeds we shall have to leave a good many feathers behind us.’”

The third letter published by the Figaro was from another member of the Prieu syndicate, Monsieur Prosper Sauvage: “I was present at the meeting which was called to discuss the situation created by the articles in the Figaro,” he wrote. “I was one of the first to arrive, and met Messieurs Monniot, Mazars, and Boileau. Naturally the conversation bore on the incidents of the day, and when I expressed my astonishment and my indignation at the proposal that the Government should take 80 per cent. for its electoral needs while the heirs received only 20 per cent. of the money, Monsieur Monniot declared that Monsieur Schneider had told him about the interview which he had had, and had confirmed these figures. He added that Monsieur Schneider had found the rate excessively high, and quite unacceptable. (Signed) Prosper Sauvage.”

These letters appeared in the Figaro on January 12. The same day Monsieur Calmette accused Monsieur Caillaux of having extorted £16,000 from the Comptoir d’Escompte for the party funds. Monsieur Calmette wrote that Monsieur Ulmann, of the Comptoir d’Escompte, had been received at five o’clock one afternoon by Monsieur Caillaux, and that some days afterwards the £16,000 had been placed at the disposition of the Minister of Finance. Everybody concerned contradicted these statements very flatly, and as they have no bearing on the Caillaux drama other than to show the bitterness and personal nature of the attacks in the Figaro against Monsieur Caillaux we may leave them on one side.

Three days later, on January 15, Monsieur Francois Lebon published in L’Œuvre, a little weekly paper which has been in bitter opposition to the present Government, an article on the scandals of the week, in which he referred to the Prieu affair, and to the affair of the Comptoir d’Escompte. In this article, which is the more worth quoting because it attacks not only Monsieur Caillaux but the present parliamentary rÉgime in France as well, Monsieur Lebon exclaims against the outcry which many people raise against such revelations as those made by the Figaro, that “they tarnish the good name of the Republic.”

“The republican rÉgime,” writes Monsieur Lebon, “is settling down in the mud. We may consider it permissible to think that a few more stains will not be much more visible. When a man is drowning it is perhaps an excess of precaution to refrain from throwing him a rope for fear of splashing him with a few drops of water. One of these days it will become perceptible that if the Third Republic fell so low, it was because the Third Republic was ‘la RÉpublique des camarades. ’”

This is severe language from a Frenchman about France, but unfortunately there is much in the political history of recent years to support this charge of graft and of corruption. Charges of corruption in the N’Goko Tanga affair, charges which were not altogether denied satisfactorily, were brought by Monsieur Ceccaldi when the colonial Budget came up for discussion, and the fact that Monsieur Ceccaldi has since become a close friend and supporter of the Caillaux Government makes these charges all the more significant now. Each Government in France has a secret fund of £44,000; £24,000 of this fund are used comparatively openly. The little balance of £20,000 is not nearly enough for the funds needed by the Government at the general elections, and it is a well-known fact that a great deal more is spent.

The question as to where this money comes from is hardly a mystery. The Mascuraud committee, an association of parliamentarians and commercial men, has been generous with money in the past. This year it is said to have withheld a large proportion of its usual subsidy, and the Figaro and other Opposition papers declare that Monsieur Caillaux did what he did for the purpose of ensuring at the coming elections the election of Government candidates for the Chamber of Deputies.

Agence Nouvelle—Photo, Paris.

MONSIEUR CAILLAUX’S FRIEND, M. CECCALDI.

On January 15 another long article over Monsieur Calmette’s signature in the Figaro dealt severely with Monsieur Caillaux’s relations with financial men in Paris. The suggestion made was that Monsieur Caillaux, who was a member of the board of the Argentine CrÉdit Foncier, the Egyptian CrÉdit Foncier and other enterprises of international finance, was for personal and pecuniary reasons unable to resist the pressure brought to bear on him by his colleagues among the directors of these financial boards, and was obliged to do what they told him to do, irrespective of his own political convictions or of the higher interests of the country, which interests he as a Minister of the State should have considered first.

According to the Figaro, a Monsieur Arthur Spitzer, an Austrian by birth, a Frenchman by naturalization, and one of the most influential directors of the big French bank, the SociÉtÉ GÉnÉrale, had gained his position there owing to the influence and recommendation of Sir Ernest Cassel.

“Since 1911,” said the Figaro, “the French Prime Ministers and Finance Ministers had successively expressed their opinions that Monsieur Spitzer took too large a share in every sense of the word of the big loans which were launched on the Paris market. In consequence Monsieur Spitzer’s re-election to the board of the SociÉtÉ GÉnÉrale in 1913 was indirectly opposed by the Government. Monsieur Spitzer, in deference to the expression of this opinion which was conveyed to the SociÉtÉ GÉnÉrale by a permanent official of the Ministry of Finance, resigned his position on the board of the SociÉtÉ GÉnÉrale, but he remained on the board of the CrÉdit Foncier Argentin and on the board of the CrÉdit Foncier Egyptien, of which two boards of directors Monsieur Caillaux was a member. The intermediary between the Government and the SociÉtÉ GÉnÉrale in the secret and delicate negotiations which resulted in the resignation of Monsieur Spitzer had been Monsieur Luquet, one of the principal permanent officials in the Ministry of Finance. Shortly after Monsieur Caillaux’s return to power an intimate friend of Monsieur Spitzer, Monsieur AndrÉ Homberg, a director of the SociÉtÉ GÉnÉrale, and another financial magnate whose name the Figaro does not mention, called on Monsieur Caillaux at the Ministry of Finance, and shortly afterwards Monsieur Luquet was superseded and was succeeded in his post by Monsieur Privat-Deschanel, the general secretary of the Financial office, the man in whose presence Madame Gueydan had burned her husband’s, Monsieur Caillaux, letters. In other words, Monsieur Calmette accused Monsieur Caillaux of allowing himself to be influenced by his financial friends to serve their financial needs by the removal of a useful servant of the country. On the following day, January 16, the Figaro launched another accusation against Monsieur Caillaux, that of interfering between two big shipping companies in order to please his financial friends.”

There is no need to go into the details of the quarrel between the South Atlantic Company and the Compagnie Transatlantique. Suffice it to say that the Figaro accused Monsieur Caillaux of acting in an arbitrary fashion and taking orders for his conduct from certain financial magnates, among whom was Monsieur AndrÉ Homberg of the SociÉtÉ GÉnÉrale. On January 19, Monsieur Gaston Calmette announced for the following day a series of articles describing “the nefarious part played by Monsieur Caillaux in the events which preceded the sending of a German gunboat to Agadir.” On the 20th this series of articles began. They continued without intermission till January 24. I shall refer to them more fully in another chapter of this book.

On January 26, Monsieur Gaston Calmette called Monsieur Caillaux to account in the Figaro on the question of a heavy fine of £325,000 which had been inflicted on a Paris bank (the Banque Perrier) for the non-observance of certain formalities in connexion with an emission of two million pounds sterling of Ottoman bonds. Monsieur Gaston Calmette returned the next day to the question, twitting Monsieur Caillaux somewhat cruelly with his inability to give a satisfactory reply. On Wednesday, January 28, he returned to the charge again and at some length on the front page of the Figaro, dropping it on the 29th for an article of two columns and a half on Monsieur Caillaux’s connexion with the CrÉdit Foncier Egyptien and the CrÉdit Foncier Argentin.

In this article Monsieur Calmette deliberately accused Monsieur Caillaux of allowing quantities of South American bonds and shares an official quotation on the Paris Bourse because Monsieur Spitzer, Monsieur Ullmann and others of his financial friends were interested in placing these bonds in France. Monsieur Calmette declared that during the six months of Monsieur Caillaux’s tenure of office as Finance Minister in 1911, that is to say from February to June of that year, South American bonds and shares to the amount of forty million pounds sterling received an official quotation on the Paris Bourse, and he drew up and published a Table showing the prices at which the quotations had been given, and the depreciation of these stocks and shares during the three years which followed. The depreciation is about twenty-five per cent. In other words, according to the Figaro, Monsieur Caillaux’s admission of these enormous blocks of South American bonds on the Paris Bourse resulted in a loss to French investors of ten millions sterling.

Naturally enough Monsieur Caillaux replied through the official Havas agency, and in reply to his communiquÉ Monsieur Calmette on January 30 returned to the charge, emphasising his original accusations.

On the first of February Monsieur Caillaux visited his constituency of Mamers. The Figaro on that day published a long and bitter article describing the misdeeds of the Minister of Finance since his entry into politics. On the 2nd it published two columns more containing a sarcastic appreciation of Monsieur Caillaux’s visit to Mamers. On February 5, Monsieur Caillaux was accused in the Figaro of postponing the French loan and so inducing French investors to place their money elsewhere, notably in Italy. On February 7 the Figaro accuses Monsieur Caillaux, of “continuing to earn the gratitude of the Triple Alliance.” After adjourning the French loan and so facilitating the success of one Prussian loan, and the preparation of a second, “Monsieur Caillaux,” he is told by the Figaro, “has enabled the Hungarian Government to contract a loan of twenty millions sterling.” “When all our enemies have filled their Treasuries,” says the Figaro of February 7, “perhaps Monsieur Caillaux will make up his mind to reveal the great plans and schemes to which he has subordinated the eventual issue of a French loan.“ On Sunday February 8 the Figaro contented itself with publishing a photograph of Monsieur Caillaux, and making fun of it, but day by day no number of the paper appeared without an attack on him of one kind or another. On February 11, announcing the Finance Minister’s resignation from the board of the CrÉdit Foncier Argentin, Monsieur Calmette comments on it in these words: “Monsieur Henri Poirier, an intimate friend of Monsieur Spitzer, has taken his, Monsieur Caillaux’s, place provisionally. When Monsieur Caillaux wishes to return to the board there is no doubt that Monsieur Poirier will make way for him.” On February 19, commenting on the statement in the Senate of Monsieur Caillaux, two days before, that he had never said in 1901 that a Minister of Finance would never consent to interfere with all the taxes, the Figaro gives him the lie direct, quotes the speech he made on July 4, 1901, and declares that it is a complete condemnation of his whole fiscal policy at the present time. On the 20th Monsieur Calmette returns to the charge, compares several speeches of Monsieur Caillaux made at different dates, and comments on them in these words: “Monsieur Caillaux modifies his declarations and his financial programme according to whether he is a Minister in power or anxious to become one, according to whether he is speaking so as to remain in office or speaking against the Ministry so as to overthrow it.” On February 25 Monsieur Gaston Calmette returns to “the secret combinations of Monsieur Caillaux,” and the big fine of £325,000, “which was imposed but never collected,” and ends his article by the accusation that Monsieur Caillaux, for private reasons, authorized a loan issued by a South American bank after the authorization had been refused three times by his predecessor Monsieur Pichon. On Thursday, February 26, the Figaro returns to the attack on the same subject. On March 2, 1914, Monsieur Calmette published a letter written on December 19, 1908, by Monsieur Caillaux, who was then Minister of Finance, to Monsieur Clemenceau, who was then Prime Minister and Minister of the Interior. In this letter Monsieur Caillaux protests against the publication in the Journal Officiel of advertisements of foreign lottery bonds. “Six months after the date of this letter,” says Monsieur Calmette, “the Clemenceau Cabinet fell, and Monsieur Caillaux in the following autumn became President of the board of the CrÉdit Foncier Egyptien. He remained President of that board till January 1914, even while he was a member of the Cabinet again from March 2, 1911, till January 10, 1912. In December 1908 while Monsieur Caillaux was Minister of Finance and was not yet on the board of the CrÉdit Foncier Egyptien he had refused the introduction on the Paris market of 800,000 lottery bonds. In 1912 he authorized their introduction.” “Our plutocratic demagogue,” writes Monsieur Calmette, “had found in the interval between 1908 and 1912, 100,000 good reasons for suppressing his refusal of 1908 to give these bonds a market.”

This article is of course a deliberate accusation of financial and political dishonesty. On March 3, Monsieur Calmette returns to the question of the South Atlantic Shipping Company. On the 4th, Monsieur Calmette warns the public against a loan which is to be issued by this company, and suggests that Monsieur Caillaux’s reasons for encouraging it are reasons of party policy, and anything but straightforward. On March 5 the Figaro, over the signature of Monsieur Gaston Calmette, accuses Monsieur Caillaux publicly of facilitating a Stock Exchange coup by enabling his friends to gamble, with a certainty of success, in the price of French Rentes on the Paris Bourse.

This accusation needs a few words of explanation. The budget proposals contained one item of supreme interest to French investors. This was the taxation of stocks. On March 4 at five o’clock it became “known” in the lobbies of the Chamber and in the newspaper offices of Paris that Monsieur Caillaux intended to omit French Rentes from his scheme of taxation. Naturally this expected immunity of French Rentes from taxation was the reason of a rise of French Rentes. On the Thursday, March 5, Monsieur Caillaux contradicted the rumour of the afternoon before, and declared that he intended to propose the taxation of French Rentes. At twenty minutes to twelve on that morning, when the sworn brokers of the Paris Bourse fixed the opening price, the official contradiction had not reached them. At twelve o’clock, when the opening price was published on the Bourse, Rentes were up to 88.80, the highest price which had been reached since the declaration of war in the Balkans. A large amount of stock changed hands at this high price. Seven minutes later Monsieur Caillaux’s communiquÉ was generally known, and Rentes fell forty centimes in a few minutes, entailing heavy losses.

Monsieur Barthou made a cynical and characteristic comment on this Bourse operation. “The money was not lost to everybody,” he said. On March 8 Monsieur Gaston Calmette stigmatizes Monsieur Caillaux’s behaviour with reference to the immunity and taxation of French Rentes as “a double pirouette, a looping-the-loop act which allowed certain friends of the Minister of Finance, of whom he was very fond and whom he kept very well informed, to execute a most audacious Stock Exchange coup.”

Monsieur Calmette follows this up by a personal attack on Monsieur Caillaux, who, he declared, stated through the Agence Havas on December 28 that he had resigned his position on the board of the CrÉdit Foncier Egyptien and the CrÉdit Foncier Argentin, that Monsieur Caillaux had mis-stated the truth, and that he was still a member of these boards and drawing a large sum for his services. On March 10 Monsieur Calmette attacked Monsieur Caillaux in an article which occupied nearly three columns of the front page of the Figaro, on his behaviour in the Rochette case.

This article was of course written with the knowledge that the letter of Monsieur Victor Fabre, the Procureur GÉnÉral, which appears earlier in this volume, would, if published, support the charges made by Monsieur Gaston Calmette against Monsieur Caillaux, and Monsieur Monis. It marks the last stage of this long series of personal attacks in the Figaro, far too many of which attacks appear to be only too well deserved.

“For Rochette to escape from legal punishment for his crime against the investing public it was necessary that his case should not come on for trial on April 27, 1911,” wrote Monsieur Calmette in the Figaro on March 10, 1914. The meaning of this is that by French law a prosecution which has not been followed by execution within three years falls to the ground and becomes null and void. Rochette would be a free man if he remained unsentenced three years after his first prosecution in 1908. On March 2, 1911, wrote Monsieur Calmette, “Monsieur Caillaux became Minister of Finance in the Cabinet of which Monsieur Monis was Prime Minister, and Monsieur Perrier Minister of Justice. Rochette had been arrested on March 20, 1908. On May 8 he was released provisionally. He was tried on July 27, 1910, sentenced to prison, appealed, and was able to continue his inroads on the private fortunes of France in all tranquillity. Rochette in 1908 continued to speculate and continued to empty France’s woollen stocking. He got seventy-two million francs of small investors’ money before his arrest, he got sixty-eight million francs more out of it afterwards. If his case did not come on before the three years were up he would be a free man.”

Monsieur Calmette then tells the story of the pressure which was brought to bear by Monsieur Monis and Monsieur Caillaux on Monsieur Fabre and on Judge Bidault de L’Isle, which story we know in all its details now, and he comments on it in these words: “Rochette was saved. All he had to do was to wait for the previous procedure to be proclaimed null and void, and this was done on February 2, 1912. When, to his amazement, a new suit was commenced under the Cabinet of which Monsieur PoincarÉ was Prime Minister, Rochette took flight. He is a free man to-day, freer and better protected than all of us. He will smile as he reads this indiscreet account of his troubles which are over, and in his gratitude he will send from overseas a gracious greeting to the Minister of Finance, his saviour and his friend. Monsieur Caillaux it was who demanded, who obtained, who insisted on, the various postponements which allowed Rochette to thieve with impunity. Monsieur Caillaux it was who allowed Rochette to proceed during the long legal procedure with the systematic spoliation of the public purse for which he had been arrested, tried, and sentenced once. The protector, the accomplice, of this shady financier is Monsieur Caillaux. Monsieur Caillaux it was who in exchange for subventions of money to the newspapers which supported him and his policy facilitated, prolonged, and increased the strength of the influence of this Stock Exchange adventurer on the public whom he was ruining.

“There you have the plutocratic demagogue! There you have the man of the Congo, the man who nearly made us quarrel with England and with Spain, the man of the CrÉdit Foncier Egyptien lottery bonds, the man who drew money for serving on financial boards and for services rendered, the man who indulged in secret machinations and criminal intervention, the Finance Minister of the Doumergue Cabinet! Neither the Commission of Inquiry nor Monsieur JaurÈs ever really understood the Rochette affair. They guessed something about it, they felt what it meant, instinctively, and they stopped their inquiry, frightened by so much illegality, disgusted at so many crimes. Now you know the truth of it all. Here it stands revealed in all its nakedness to the public whose savings have been stolen. It can be resumed in one word—infamy! It can be resumed in one name—Caillaux!”

On March 11, Monsieur Calmette pointed out that Monsieur Caillaux had issued no official contradiction to the terrible accusations in the Figaro of the day before. On Thursday, March 12, he called public attention again to Monsieur Caillaux’s silence, and in heavy black type in the very centre of the front page of his paper appeared these three lines, which were, so soon, to be fraught with tragic consequence.

“WE SHALL PUBLISH TO-MORROW A CURIOUS
AUTOGRAPH DEDICATED BY MONSIEUR
JOSEPH CAILLAUX TO HIS ELECTORS.”

On Friday, March 13, 1914—those of my readers who are superstitious will take note that it was a Friday and a thirteenth of the month—the “Ton Jo” letter appeared on the front page of the Figaro.