ruin.

Finally, Continental Europe is on the eve of a series of fresh and
more violent wars among peoples, threatening to submerge civilization
unless some means be found to replace the present treaties, which are
based on the principle that it is necessary to continue the War, by a
system of friendly agreements whereby winners and losers are placed
on a footing of liberty and equality, and which, while laying on the
vanquished a weight they are able to bear, will liberate Europe from
the present spectacle of a continent divided into two camps, where one
is armed to the teeth and threatening, while the other, unarmed and
inoffensive, is forced to labour in slavish conditions under the
menace of a servitude even more severe.




II

THE PEACE TREATIES AND THE CONTINUATION OF THE WAR


The various peace treaties regulating the present territorial
situation bear the names of the localities near Paris in which they
were signed: Versailles, Saint-Germain-en-Laye, Trianon and Sèvres.
The first deals with Germany, the second with Austria, the third
with Hungary, and the fourth with Turkey. The Treaty of Neuilly,
comparatively far less important, concerns Bulgaria alone. But the one
fundamental and decisive treaty is the Treaty of Versailles, inasmuch
as it not only establishes as a recognized fact the partition of