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own empire, in the common interest of Europe and mankind. If he is silent about questions which touch the interest and purpose of his allies more nearly than they touch those of Austria only, it must of course be because he feels constrained, I suppose, to defer to Germany and Turkey in the circumstances. Seeing and conceding, as he does, the essential principles involved and the necessity of candidly applying them, he naturally feels that Austria can respond to the purpose of peace as expressed by the United States with less embarrassment than could Germany. He probably would have gone much further had it not been for the embarrassments of Austria's alliances and of her dependence upon Germany. After all, the test of whether it is possible for either government to go any further in this comparison of views is simple and obvious. The principles to be applied are these: First—That each part of the final settlement must be based upon the essential justice of that particular cause and upon such adjustments as are most likely to bring a peace that will be permanent. Second—That peoples and provinces are not to be bartered about from sovereignty to sovereignty as if they were mere chattels and pawns in a game, even the great game, now forever discredited, of the balance of power; but that, Third–Every territorial settlement involved in this war must be made in the interest and for the benefit of the populations concerned, and not as a part

of any mere adjustment or compromise of claims among rival states; and, Fourth—That all well defined national aspirations shall be accorded the utmost satisfaction that can be accorded them without introducing new or perpetuating old elements of discord and antagonism that would be likely in time to break the peace of Europe and consequently of the world. A general peace erected on such foundations can be discussed. Until such a peace can be secured we have no choice but to go on. So far as we can judge, these principles that we regard as fundamental are already everywhere accepted as imperative, except among the spokesmen of the military and annexationist party in Germany. If they have anywhere else been rejected the objectors have not been sufficiently numerous or influential to make their voices audible. The tragical circumstance is that this one party in Germany is apparently willing and able to send millions of men to their death to prevent what all the world now sees to be just. I would not be a true spokesman of the people of the United States if I did not say once more that we entered this war upon no small occasion and that we never can turn back from a course chosen upon principle. Our resources are in part mobilized now and we shall not pause until they are mobilized in their entirety. Our armies are rapidly going to the fighting front and will go more and more rapidly. Our whole strength will be put into this war of emancipation— emancipation from the threat and attempted mastery of selfish groups of autocratic rulers—whatever the difficulties and present partial delays. We are indomitable in our power of independent action and can in no circumstances consent to live in a world governed by intrigue and force. We believe that our own desire for a new international order under which reason and justice and the common interests of mankind shall prevail is the desire of enlightened men everywhere. Without that new order the world will be without peace, and human life will lack tolerable conditions of existence and development. Having set our hand to the task of achieving it we shall not turn back. I hope that it is not necessary for me to add that no word of what I have said is intended as a threat. That is not the temper of our people. I have spoken thus only that the whole world may know the true spirit of America—that men everywhere may know that our passion for justice and for self-government is no mere passion of words, but a passion which, once set in action, must be satisfied. The power of the United States is a menace to no nation or people. It will never be used in aggression or for the aggrandizement of any selfish interest of our own. It springs out of freedom and is for the service of freedom.


This is the anniversary of our acceptance of Germany's challenge to fight for our right to live and be free, and for the sacred rights of freemen everywhere." The nation is awake. There is no need to call to it. We know what the war must cost, our utmost sacrifice, the lives of our fittest men and, if need be, all that we possess.

The loan” we are met to discuss is one of the least parts of what we are called upon to give and to do, though in itself imperative. The people of the whole country are alive to the necessity of it, and are ready to lend to the utmost, even where it involves a sharp skimping and daily sacrifice to lend out of meager earnings. They will look with reprobation and contempt upon those who can and will not, upon those who demand a higher rate of interest, upon those who think of it as a mere commercial transaction. I have not come, therefore, to urge the loan. I have come only to give you, if I can, a more vivid conception of what it is for.

The reason for this great war, the reason why it had to come, the need to fight it through, and the issues that hang upon its outcome, are more clearly disclosed now than ever before. It is easy to see just what this particular loan means, because the cause we are fighting for stands more sharply revealed than at any previous crisis of the momentous struggle. The man who knows least can new see plainly how the cause of justice stands, and what the imperishable thing he is asked to invest in is. Men in America may be more sure than they ever were before that the cause is their own, and that, if it should be lost, their own great nation’s place and mission in the world would be lost with it. I call you to witness, my fellow-countrymen, that at no stage of this terrible business have I judged the purposes of Germany intemperately. I would be ashamed in the presence of affairs so grave, so fraught with the destinies of mankind throughout all the world, to speak with truculence, to use the weak language of hatred or windictive purpose. We must judge as we would be judged. I have sought to learn the objects Germany has in this war from the mouths of her own spokesmen, and to deal frankly with them as I wished them to deal with me. I have laid bare our own ideals, our own purposes, without reserve or doubtful phrase, and have asked them to say as plainly what it is that they seek. We have ourselves proposed no injustice, no aggression. We are ready, whenever the final reckoning is made, to be just to the German people, deal fairly with the German power, as with all others. There can be no difference between the peoples in the final judgment, if it is indeed to be a righteous judgment. To propose anything but justice, even-handed and dispassionate justice, to Germany at any time, whatever the outcome of the war, would be to renounce and dishonor our cause, for we ask nothing that we are not willing to accord. It has been with this thought that I have sought to learn from those who spoke for Germany whether it was

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