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language of the United States, our copyright in America would be void and the protection both of ourselves and our writers would be forfeited. Germanic Peace Terms [From the Budapest Correspondent of The London Morning Post.] To the Revue de Hongrie, the only French paper in Budapest, Count Andrassy contributes an article for July entitled "Les garanties d'une paix durable," and discusses the peace terms the Central Empires are to put forward in the event of final victory. He objects to the idea of annexation or anything more than "boundary corrections," and says: Our war is a defensive war, which will achieve its aim when our enemies have been expelled from our territory and their ring has been broken. This aim could be best served by making peace with one or other of our enemies and winning him over to our cause. This would be of immense advantage to the future of civilization and ensure us against the horrors of a prolonged war. A separate peace would be the best chance for certain Powers to change their international policy. To my mind the issues of this war will greatly change the attitude of some hostile States toward us, and will bring about more intimate relations between them and ourselves, besides widening the foundations of the alliance between Hungary and her allies. And this is to be the rock upon which the European balance of power is to rest in the future. Our war is not a war of conquest, and the boundary changes of which some people speak are not the _sine qua non_ of a good peace. Therefore I do not even wish to speak about certain territorial alterations, which, nevertheless, might be necessary. Regarding the question of England and nationality, Count Andrassy says: Victory no doubt affords us the right to demand the alteration of the map of Europe, yet, this not being our aim and not to our interest, we can be satisfied with certain compensations, as no doubt our enemies would not spare us if they were victorious. Lloyd George said that the States are to be shaped in the future according to nationalities, which means that the Monarchy is to be disrupted. An English scholar not long ago expressed the same view, and, in fact, in England this idea is being impressed upon the people. This policy is sounded in a country which dominates
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