Later on, when you return to your recaptured and glorious Belgium, you will only have to say the word, Sire, and all disputes will lose their bitterness and all antagonisms fade away. After being our strength and defender, you will become our peacemaker and reconciler. With deepest respect, EMIL VERHAEREN. Foreshadowing a New Phase of War Financing the Allies and Small Nations Preparing for War By Lloyd George, British Chancellor of the Exchequer That there are "also other States preparing for war," and that financial arrangements had been made for their participation against Germany by the allied Governments of Great Britain, France, and Russia; moreover, that Russia would be enabled within a few months to export considerable quantities of her grain and do her own financing--this statement preceded the bombardment of the forts in the Dardanelles, probably to clear the way for Russia's commerce--are the outstanding features of the speech by Lloyd George presented below, foreshadowing a new phase in the war. The speech was made in the House of Commons on Feb. 15, 1915, to explain the results of the financial conference between the allied powers to unite their monetary resources, held in Paris during the week of Feb. 1. It may be regarded as one of the most momentous utterances of the war. PARLIAMENTARY REPORT. _The Chancellor of the Exchequer, (Mr. Lloyd George,)_ who was called upon by the Speaker, said: I shall do my best to conform to the announcement of the Prime Minister that the statement I have to make about the financial conference in Paris shall be a brief one, but I am afraid my right honorable friend assumed that we are all endowed with the extraordinary gift of compression which he himself possesses. [Laughter.] The arrangements that were made between the three Ministers for recommendation to their respective Governments commit us to heavy engagements, and it is, therefore, important I should report them in detail to the House, and find some reason why we should undertake such liabilities.