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The speech has produced a much greater effect in Berlin

than in Paris. Indeed, some writers in Germany seek to interpret the speech as indicating the long- sought-for British " intervention." Lord Curzon did not mean this—indeed, he meant simply and solely what he said—that is, that it is now time that an offer from Germany should be made. And according to news from Berlin there is a strong feeling amongst informed persons there that a proposal will be made, in the form of a simultaneous Note to the Allies. German opinion is perceptibly more optimistic as to the possibility of a settlement than it has been for some months.

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