tion.

The situation of German-Austria is now such that she can say with
Andromache: "Let it please God that I have still something more to
fear!" Austria has lost everything, and her great capital, which was
the most joyous in Europe, shelters now a population whose resources
are reduced to the minimum. The slump in her production, which is
carried on amidst all the difficulties, the fall in her credit, the
absolute lack of foreign exchanges, the difficulty of trading with the
hostile populations which surround her, put Austria in an extremely
difficult position and in progressive and continuous decadence. The
population, especially in the cities, is compelled to the hardest
privations; the increase of tuberculosis is continuous and
threatening.

Bulgaria has had rather less loss, and although large tracts of
Bulgarian territory have been given without any justifiable motive to
Greece and Jugo-Slavia, and although all outlet on the Aegean has been
taken from her by assigning to Greece lands which she cannot maintain,
on the whole Bulgaria, after the Treaty of Neuilly, has less sharp
sufferings than the other conquered countries. Bulgaria had a
territorial extension of 113,809 square kilometres; she has now lost
about 9,000 square kilometres. She had a population of 4,800,000, and
has lost about 400,000.

As for Turkey, if the treaties should continue to exist, she can be
considered as disappearing from Europe and on the road to disappear
from Asia. The Turkish population has been distributed haphazard,
especially to Greece, or divided up under the form of mandates to
countries of the Entente. According to the Treaty of Sevres of August
10, 1920, Turkey abandons all her territory in Europe, withdrawing her
frontier to the Ciatalgia lines.

Turkey in Europe is limited, therefore, to the surroundings of
Constantinople, with little more than 2,000 square kilometres, and a
population which is rather hard to estimate, but which is that only of
the city and the surroundings--perhaps a million and a half men. In
Asia Minor Turkey loses the territory of the Sanjak of Smyrna,
over which, however, she retains a purely nominal sovereignty; the
territory still undefined of the Armenian Republic: Syria, Cilicia,
Palestine and Mesopotamia, which become independent under mandatory
powers; in Arabia the territory of the Hedjaz, whilst the remainder
of the peninsula will enjoy almost complete independence. Besides,
Constantinople