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88 of what were the German colonies, beyond a very strong conviction that they must never again be allowed to fall, for any military or naval purpose, under German control. But, broadly, my feeling is this: The whole situation of the Allies in regard to Germany is governed by the fact that Germany is responsible for the war. The Allies are, therefore, entitled to demand from her restitution, reparation, and guarantees as preliminary conditions of any peace settlement. The territories which the Allies have taken from Germany in the course of their legitimate self-defence do not come into the same category as the territories seized by Germany, and the allies of Germany, in the course of their predatory aggression. To contemplate barter or exchange between one set of territories and the other would be to assimilate, by implication, the moral situation of the Allies to that of Germany. Therefore, however closely we may study the question, or rather the questions—for there are several—of the German colonies, we ought to make it clear that the ultimate settlement of those questions will be reserved for treatment by the Allies as a fighting league of free nations, or by the general League of Nations should the behaviour of Germany entitle her to