For look at the Condition of Europe. One State after
another totters over into the embraces of Bolshevism. This process is not likely to cease while men are hungry and have not the wherewithal for reviving their industries. A Treaty of Peace could be signed quickly if statesmen would be content Co make the principle of the League of Nations implicit in the Treaty. There is no need to make the signing of Peace wait, for what is likely to be the tardy process of ratifying the League Covenant in the United States. Time is an essential element in the problem. We do not think that Lord Curzon meant his words in the House of Lords about the threat of a fresh war to be token too tragically ; but while day is being added to day with nothing definitely done, we undoubtedly see the world gradually re- forming itself, very much against our wishes, into the winners of the war on one side, and into the losers of the war plus disin- tegrated Russia on the other. All those on the other side have either actually acknowledged Bolshevism, or are in instant terror that they will have to succumb to it.
