nise the nature of these facts with which
the inquiry is concerned; and any plain characterisation of the facts
will unavoidably carry a fringe of suggestions of this character,
because current speech is adapted for their reprobation. The point aimed
at is not this inflection of approval or disapproval. The facts are to
be taken impersonally for what they are worth in their causal bearing on
the chance of peace or war; not at their sentimental value as traits of
conduct to be appraised in point of their goodness or expediency.

So seen without prejudice, then, if that may be, this Imperial
enterprise of these two Powers is to be rated as the chief circumstance
bearing on the chances of peace and conditioning the terms on which any
peace plan must be drawn. Evidently, in the presence of these two
Imperial Powers any peace compact will be in a precarious case; equally
so whether either or both of them are parties to such compact or not. No
engagement binds a dynastic statesman in case it turns out not to
further the dynastic enterprise. The question then recurs: How may peace
be maintained within the horizon of German or Japanese ambitions? There
are two obvious alternatives, neither of which promises an easy way out
of the quandary in which the world's peace is placed by their presence:
Submission to their dominion, or Elimination of these two Powers. Either
alternative would offer a sufficiently deterrent outlook, and yet any
project for devising some middle course of conciliation and amicable
settlement, which shall be practicable and yet serve the turn, scarcely
has anything better to promise. The several nations now engaged on a war
with the greater of these Imperial Powers hold to a design of
elimination, as being the only measure that merits hopeful
consideration. The Imperial Power in distress bespeaks peace and
good-will.

Those advocates, whatever their nationality, who speak for negotiation
with a view to a peace compact which is to embrace these States intact,
are aiming, in effect, to put things in train for ultimate submission to
the mastery of these Imperial Powers. In these premises an amicable
settlement and a compact of perpetual peace will necessarily be
equivalent to arranging a period of recuperation and recruiting for a
new onset of dynastic enterprise. For, in the nature of the case, no
compact binds the dynastic statesman, and no consideration other than
the pursuit of Imperial dominion commands h