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 would be able to occupy Zagreb (Agram). Even now the Allies could make use of the Balkans by marching against Hungary-Austria, the Russians proceeding from the East; in that case the Roumanians would join—but for this we need soldiers, soldiers, soldiers!

The Russians were expected to occupy the North of Hungary, Moravia and Bohemia; that will be their task again, for the occupation of these countries is of great political significance. The occupation of Vienna or Berlin is more of a demonstrative character, whereas the occupation of Alsace-Lorraine, Poznan (Posen) and Prussian Silesia, Galicia, Moravia, Bohemia and of Croatia in the South has a great significance as a first step towards the organisation of Central Europe on anti-German lines.

The occupation of the Slav countries of Germany and Austria-Hungary is the end of Pan-German imperialism; Austria-Hungary is the weakest point of Germany, every weakening of Austria is a blow to Germanism.

Often the expectation is expressed that Germany will rapidly collapse after the first defeat. I can only re-affirm my scepticism in that respect. But it is probable that Austria would not stand a serious blow very well.

A decisive victory of the Allies, especially of the Russians, would soon induce Roumania to join the Allies, and perhaps Greece as well. It will depend on the intensity of the Allies’ victory whether Denmark would not march against Germany to recover the lost Danish territory; Holland’s help could be expected to assist in the recovery of Belgium. The diplomatists will have an opportunity of atoning for their shortcomings in the past.

The strategic and political defeat of Pan-German imperialism and the liberation of Central Europe must be intensified by an economic defence.

Britain, Austria-Hungary, Russia, France, and the United States; then Belgium and Holland, Australia and Denmark had the largest trade with Germany. The Allies could, therefore, by special treaties prepare the economic boycott of Germany.

The dismemberment of Austria-Hungary, and the creation of the new States of Poland, Bohemia and Greater Serbia will affect the international market; the industry of Poland and Bohemia would be open to Russia and the Balkans; Dantzig as a Polish port would be of great significance for Russia, Denmark, Sweden and for Britain. Not merely Salonika and Constantinople, but also Trieste, Fiume and Spalato on the Adriatic would increase in importance as commercial centres.

The economic and financial exhaustion of belligerents and neutrals alike will give to the United States an opportunity of interfering in Europe; the financial policy of the United States will be able to promote new political schemes. Once more the diplomatists will have a new field of activity.

But the first demand is, and must be, to form a plan as clear as possible for the political and economic re-shaping of Europe in the future. Bismarck condemned every war in which the possible fruits of victory have not been considered before the war is in progress. Bismarck