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 financial groups. He wanted indemnities to recuperate France, loans, gifts, and tributes to France, glory and homage to France. France had suffered, and France had to be rewarded. Belgium, Russia, Serbia, Poland, Armenia, Britain, Germany, and Austria had all suffered too, all mankind had suffered, but what would you? that was not his affair. These were the supers of a drama in which France was for him the star.... In much the same spirit Signor Orlando seems to have sought the welfare of Italy.

Mr. Lloyd George brought to the Council of Four the subtlety of a Welshman, the intricacy of a European, and an urgent necessity for respecting the nationalist egotism of the British imperialists and capitalists who had returned him to power. Into the secrecy of that council went President Wilson (leaving Point I at the door) with the very noblest aims for his newly discovered American world policy, his rather hastily compiled Fourteen (now reduced to Thirteen) Points, and a project rather than a scheme for a League of Nations.

The Second Point was presently observed to be missing. It may have fallen into the Atlantic on the way over. It may have been thrown into the sea as an offering to the British Admiralty.

"There can seldom have been a statesman of the first rank more incompetent than the President in the agilities of the Council Chamber." From the whispering darknesses and fireside disputes of that council, and after various comings and goings we cannot here describe, he emerged at last with his Fourteen Points pitifully torn and dishevelled, but with a little puling infant of a League of Nations, which might die or which might live and grow—no one could tell. This history cannot tell. We are at the end of our term. But that much, at least, he had saved....

Let us now consider briefly this Covenant of the League of Nations, and recapitulate the terms of the quasi-settlement of the world's affairs of 1919-20; and let us indicate here and there where the latter departs from the promised standard of the Fourteen Points, and where it is most dangerous to the future peace and most manifestly contrary to the welfare of mankind. Because just as the history of Europe in the nineteenth century was largely the undoing of the Treaty of Vienna, and as the Great War was