the Entente were not in a position to make terms such as could only be
laid down by the victor to the vanquished, as we were anything but
beaten, but, in spite of that, we did not cling so firmly to the
frontier posts in the Monarchy.

It might be thought, therefore, that, the Entente being willing, a
settlement of the various interests would be possible; but proposals
such as the giving up of Trieste, Bozen, and Meran were impossible, as
was also the suggestion to make peace behind Germany's back. I
referred to the military situation and the impossibility of anyone
accepting these views of the Entente. I was full of confidence in the
future, and even if that were not the case I could not conclude a
peace in the present situation which the Entente could not dictate in
other terms, even if we were beaten. To lose Trieste and access to the
Adriatic was a totally unacceptable condition, just as much as the
unconditional surrender of Alsace-Lorraine.

Neutral statesmen agreed with my views that the Entente demands were
not couched in the terms of a peace of understanding, but of victory.
Opinion in neutral countries was quite clear on the subject. But in
England especially there were various currents of thought; not
everyone shared Lloyd George's views. The main point was, however, to
lead up to a debate which would tend to clear up many matters, and I
seized the idea eagerly. The greatest difficulty, I was assured by
some, lay in the Entente's assertion that Germany had shown remarkable
military strength, but yet had not been adequately prepared for war;
she had not had sufficient stores either of raw materials or
provisions, and had not built sufficient U-boats. The Entente's idea
was that if peace were made now, Germany might perhaps accept even
unfavourable conditions, but it would only be to gain time and make
use of the peace to draw breath before beginning a fresh war. She
would make up for loss of time and "hit out again." The Entente,
therefore, considered the preliminary condition of any peace, or even
of a discussion of terms, to be the certainty of the abolition of
German militarism. I replied that nobody wished for more war, and that
I agreed with the Entente that a guarantee in that connection must be
secured, but that a one-sided disarmament and disbanding of men by
Austria-Hungary and Germany was an impossibility. It might be imagined
what it would be like if one fine day an army, far advanced in the
ene