concern. True, the Council of Ministers had requested the Bourse to outlaw the Bagdad securities. But, after all, when profits are at stake, what is a mere resolution of the Cabinet among friends? A syndicate of French financiers invested heavily in the bonds and stock of the Bagdad Railway Company, the hostility of their Government notwithstanding. And it was said that one of the bankers who participated in the syndicate was none other than M. Rouvier, Minister of Finance in the Cabinet of M. Combes, and subsequently Prime Minister.[35]
Many intelligent French students of foreign affairs felt that a merely obstructionist policy on the part of France toward the Bagdad Railway would be futile and, in the end, disastrous. In spite of the many historical and sentimental attachments of France in the Near East, she really had no vital interests which were jeopardized by the Bagdad enterprise. It was urged, therefore, that she should play the rôle of conciliator of the divergent interests of Russia, Great Britain, Germany, and Turkey. A forward-looking program, it was suggested, would be to urge these nations to reach a full and equitable agreement in the promotion of "a project unquestionably valuable in the progress of the whole human race." National material interests should be merged in "the superior interests of civilization." Mere self-interest demanded this of France, because, should a war break out over the Near Eastern question, France would most certainly become involved.[36]
As regards the claims of Russia to influence French policy in the Bagdad Railway affair, there was a considerable amount of irritability exhibited by French publicists. It was pointed out, for example, that M. Witte was unwilling to accept "internationalization" of the Railway at a time when the German and French bankers were prepared to effect a satisfactory settlement on that basis.
