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4 between several nations through conflicting claims to territory based on racial, strategical, or economic grounds. Where there is a conflict of claims, a settlement should as a rule be effected on the principle that the weaker claim must give way to the stronger. This should, of course, not mean that the smaller Power should be sacrificed to the greater, for the settlement should be based not on might, but on justice. Differences may, for instance, arise in arranging the claims of Italy and Serbia to certain portions of the Adriatic, the future of Macedonia may become a matter of contention, &c. Most of these questions are not of first-rate importance, and they should easily be settled, although they may call for unlimited patience on the part of the assembled statesmen.

Among the greatest and most difficult problems of the Peace Congress are the problem of Constantinople, the problem of Asia Minor, the problem of Austria-Hungary, the problem of Poland, and the position of the German Empire and its Emperor. All these have been considered in the present volume.

Shortly after the revolution the representatives of the Russian democracy have waived Russia's historic claim to the possession of Constantinople on the principle of 'No Annexation and No Indemnities.' A young democracy is guided rather by the heart than by the head. It follows easily the generous impulses of the moment. By the time the Peace Congress assembles, the Russian people may have changed their representatives, and may have changed their mind as to Constantinople. It seems doubtful whether the desire of acquiring Constantinople was merely based upon the ambition of Russia's rulers. Russia's most valuable territories lie in the south, for the bleak north produces little. The Black Sea and the mighty rivers leading to it constitute Russia's principal outlet. The most precious part of Russia's foreign trade is the Black Sea trade. It is bound to increase indefinitely in value. Rather for economic than for strategical reasons Russia requires free access from