The conclusion of the Ausgleich, or Austro-Hungarian com- promise, was
announced by M. Szell, the Hungarian Premier, at Buda Pest on New Year's Day. "I come," he said, "fresh from the fray with the dust of battle still clinging to me. The great struggle was brought to a close only a few 'hours ago. In this conflict, however, there is neither victory nor defeat." What was really victorious was "the idea that two States united like Austria and Hungary by a common ruler and by other indissolubleties, are acting correctly in striving also to maintain a community of economic interests by coming town understanding with due regard for their mutual interests, and by seeking an equitable adjustment of these interests.", Details of the agreement are yet wanting, but a general sense of relief is inspired by an announcement which, in view of the
difficulties to be overcome and the vehemence with which the conflicting claims were pressed, was anything but a foregone conclusion.
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