London, March 4.
It is universally agreed that yesterday's sitting of the Reparations Conference at St. James's Palace was an event of historic importance and that it vied in solemnity with the first appearance of the German delegation at Versailles after the armistice.
no exaggeration to say that the Prime Minister's brilliant and forcible speech made an impression that was equally as deep as that made by M. Clemenceau on that occasion. The Allied statesmen in London, particularly the French, are enthusiastic over the strength, tact and political acumen in Mr. Lloyd George's address, while the papers of all shades of opinion shower praise on the speech. and describe it as inspired by the deep moral earnestness which marked his war eloquence at its best.
The situation is now one of great gravity, but it is confidently believed that the German Government is alive to the seriousness of the position, and will advance more sensible proposals on Monday. "These proposals are expected to afford a basis of cussion. and avert the putting into execution of the Allied threats.
Text read from the printed page and cleaned; old type leaves the occasional error.