f power go by the
board, or, in accordance with her Treaty, go to Servia's assistance under
much more disadvantageous conditions. In the second place, he argued
that the sacrifice of Cavalla was well worth making, since Greece would
eventually receive in Asia Minor compensations which would render her
greater and more powerful than the most sanguine Greek could even have
dreamt a few years before; and in Macedonia itself the loss of Cavalla
could be partially compensated for by a rectification of frontiers
involving the acquisition from Servia of the Doiran-Ghevgheli district.

In the event of Bulgaria accepting Cavalla and the Servian concessions as
the price of her alliance, M. Venizelos argued that the outcome would be
a reconstructed League of the Balkan States which would not only ensure
them against defeat, but would materially contribute to the victory of
the Entente Powers: even the ideal of a lasting Balkan Federation might
be realized by a racial readjustment through an interchange of
populations. Should Bulgarian greed prove impervious, Greece must secure
the co-operation of Rumania, without which it would be too risky for her
to move.[4]

Sacrifices of territory, in King Constantine's opinion, were out of the
question; but he thought that, if Rumania agreed to co-operate, it might
be possible for Greece to go to Servia's assistance, as in that case
Bulgaria could perhaps be held in check by Rumanian and Greek forces left
along her northern and southern frontiers. The Bucharest Government was
accordingly sounded, and returned an answer too evasive to justify
reliance on its co-operation. So M. Venizelos fell back on the scheme of
buying Bulgarian co-operation by the cession of Cavalla, and submitted a
second memorandum to the King.

If the first of these documents was remarkable for its optimism, the
second might justly be described as a {25} masterpiece of faith pure and
undefiled by any contact with sordid facts. Its theme is the magnitude
of the compensations which Greece might expect in return for her entry
into the War: "I have a feeling," says the author, "that the concessions
in Asia Minor suggested by Sir Edward Grey can, especially if we submit
to sacrifices to the Bulgars, assume such dimensions as to double the
size of Greece. I believe that if we demanded"--he specifies in detail a
vast portion of Western Asia Minor--"our demand would probably be
granted." He calculated that the surface o