Thus we have shown to the world that an organized democracy can serve by its vigorous action the ideal of liberty and equality which constitute its greatness. Thus we have shown to the world, to use the words of our Commander in Chief, who is both a great soldier and a noble citizen, that "the republic may well be proud of the army that she has prepared." And thus, this impious war has brought out all the virtues of our race, both those with which we were credited--of initiative, elan, bravery, and fearlessness--and those which we were not supposed to possess--endurance, patience, and stoicism. Let us do honor to all these heroes. Glory to those who have fallen before the victory, and to those also who through it will avenge them tomorrow! A nation which can arouse such enthusiasm can never perish. 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.