d free trade
susceptibilities; it is to impose on what remains of our opponents at
the conclusion of this war free trade for a term of years. It remains to
be seen whether we shall be powerful enough to insist on this measure,
or to persuade our allies that it is one likely to fulfill the proposed
end. It is, so far as I see, the only other alternative.

Those who are thoroughly convinced of the benefits of free trade should
welcome this suggestion, unless, indeed, they think that such a blessing
is not deserved by Germany. On the other hand, they may comfort
themselves with the certain knowledge that no possible punishment
inflicted on the Germans could possibly be more galling and repulsive to
them. Doubtless, too, it would suit the books of our allies very well,
who could impose on German goods any duty they thought fit, and deposit
their surplus and inferior goods in Germany at a price which would defy
competition. But these are questions which I must leave to those more
conversant with the merits and demerits of free trade and protection
than I am.

Whatever view you take, you cannot but acknowledge that the situation
calls for early and anxious deliberation, and well-thought-out and firm
action; and it must be action taken as a nation--through our
Government--whatever the political complexion of the Government may be
at the close of the war. It is for you, as members of the Employers'
Parliamentary Association, to make up your minds what you wish to do;
above all, to agree, and to take steps to force the Government in power
to carry out your wishes.

BELGIUM.

By EDITH WHARTON.

[From King Albert's Book.]

_La Belgique regrette rien._

Not with her ruined silver spires,
Not with her cities shamed and rent,
Perish the imperishable fires
That shape the homestead from the tent.

Wherever men are stanch and free,
There shall she keep her fearless state,
And, homeless, to great nations be
The home of all that makes them great.

Desired Peace Terms for Europe

Outlined by Proponents for the Allies and for Germany

_The following forecast of the terms of peace which the Allies could
enforce upon Germany and Austria is made for The New York Times Current
History by a former Minister of France, one of the leading publicists of
the French Republic:_

The Allies will decline to treat with any member of the Hohenzollern or
Hapsburg family or any de