ABSTRACT
As the war goes into a third year the minds of Europe are beginning to turn towards the settlement. In Germany the desire for peace is no longer concealed. It is possible to predict with confidence that among the Allies the submerged longing for an end of the agony will burst forth as soon as the present offensive on all fronts has come to some kind of conclusion. If the settlement is made by the belligerents alone, instead of by a council of nations, a disastrous peace is almost sure to be constructed. America's action is contingent upon European policy. That is to say, the amount of responsibility America can be made to assume will depend on America's judgment of the good faith, the liberalism and the ambitions of the major belligerents. It is a tremendous task to arouse the United States from its isolation for a policy of greater promise.
