" Self-determination," the President continued, was not a mere phrase
but an imperative principle of action. We could not have a general peace for the asking or by piecing individual bargains together. " All the parties to the war must join in the settlement of every issue anywhere involved in it, because what we are seeking is a peace that we can all unite to guarantee and maintain." Count Hertling wanted the essential bases of commercial life to be safe- guarded by common agreement and guarantee, but he could not expect that unless the political settlement was handled in the same way. In other words, if Germany insisted on annexing small peoples against their will, she would find her supplies of raw materials cut off and her exporters boycotted. Against this economic weapon in the hands of Great Britain, France, and America, Germany would be powerless, as she frankly admits.
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