[FOM] induction and reducibility

[A J Franco de Oliveira]

Dear FOMs
In section 4 (dedicated to the axiom of reducibility) of his last paper "La logique de l'infini" ("The logic of infinity"), published in Scientia 12 (1912) 1-16 and reprinted in the book Dernieres Pensees (Flammarion, 1913, translated as Last Essays, Dover 1963) Henri Poincare says that he suspects that Russell's axiom of reducibility is just another form of the principle of mathematical induction.
Any thoughts on this question?
P.S. I have prepared a Portuguese
translation (in pdf format) which will be sent on 
request to anyone who so desires.
 From sunny Lisbon
AJFO