e League of Nations has proved its capacity to preserve the
peace and liberty of the world.

III

If, however, the Peace Conference is really to secure peace and prove
to the world a complete plan of settlement which all reasonable men
will recognize as an alternative preferable to anarchy, it must deal
with the Russian situation. Bolshevik imperialism does not merely
menace the States on Russia's borders. It threatens the whole of Asia,
and is as near to America as it is to France. It is idle to think that
the Peace Conference can separate, however sound a peace it may have
arranged with Germany, if it leaves Russia as it is to-day. I do not
propose, however, to complicate the question of the peace with Germany
by introducing a discussion of the Russian problem. I mention it
simply in order to remind ourselves of the importance of dealing with
it as soon as possible.

The memorandum is followed by some proposals entitled "General Lines
of the Peace Conditions," which would tend to make the peace less
severe. It is hardly worth while reproducing them. As in many points
the decisions taken were in the opposite sense it is better not to go
beyond the general considerations.

Mr. Lloyd George's memorandum is a secret document. But as the English
and American Press have already printed long passages from it, it
is practically possible to give it in its entirety without adding
anything to what has already been printed.

M. Tardieu has published M. Clemenceau's reply, drawn up by M. Tardieu
himself and representing the French point of view:

I

The French Government is in complete agreement with the general
purpose of Mr. Lloyd George's Note: to make a lasting peace, and for
that reason a just peace.

But, on the other hand, it does not think that this principle, which
is its own, really leads to the conclusions arrived at in the Note in
question.

II

The Note suggests that the territorial conditions laid down for
Germany in Europe shall be moderate in order that she may not feel
deeply embittered after peace.

The method would be sound if the recent War had been nothing but a
European war for Germany; but that is not the case.

Previous to the War Germany was a great world Power whose _future
was on the sea_. This was the power of which she was so inordinately
proud. For the loss of this world power she will never be consoled.

The Allies have taken from her--or are going to take from her--without
being d