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Rh —must have Trieste back. Alsace and Lorraine will naturally go back to their old friends and parents—France. The Fleet of Germany, if still intact, I once thought might conveniently be added to our own, but, lest that should cause any jealousy among the Allies, would not it be a good idea to make it a nucleus of an International Fleet, manned and commanded by international officers, for the purpose of policing the seas of the world, and helping to keep the ports and commerce of the nations free from molestation? Think over the idea. One of the great things of the war may be an international compact by which the seas shall be kept free and open; and if this German fleet does not rot in the Canal let it earn its living at last by doing something useful. [Cheers.]

There will, of course, be the indemnity, which will have to recoup the Allies, not only the expenditure on the War, but all the cost of compensation and of pensions which will follow the War. We will follow the example of Germany in 1870; we will follow its example whenever it gets hold of a Belgian city and say to her, as the man said who went to the bank manager for an overdraft. "How much do you want?" he was asked and his reply was, "How much have you got?" So, we'll say to Germany when all other matters are settled, "How much have you got, and how much can you raise in the next twenty or thirty years?" And we'll divide that up fairly among the Allies. Of course, the Kaiser and his promising son will have to be dealt with. [Laughter.] They must not be allowed to remain in Germany a day after peace is declared. They can be put up for auction so far as I am concerned, and knocked down to the lowest bidder. [Laughter.] And then, ladies and gentlemen, comes the question: What are you going to do with Belgium? On this, I speak in all seriousness, and I throw out a suggestion for the consideration of what are called responsible statesmen. All Europe and the whole civilized world are indebted to little Belgium to-day. [Cheers.] Politicians tell us we have to restore her integrity, and to renew her shattered treasures and cathedrals. That is only the beginning of it. That is no adequate compensation for us to make in recognition of the enormous debt we owe that little brave people, who stood between chaos and civilization, and whose stand saved France, and, perhaps, saved us, from catastrophes too terrible to contemplate. And I am going to make a suggestion to you that, in addition to compensating Belgium for all