Assuming, as we are bound to assume, that within the
next day or two war will have become general in the Balkans, the question which must absorb the attention of Europe is whether the war can be prevented from involving the Great Powers. We hope and believe that it can, but at the same time it would be foolish to ignore the terrible risks to which the peace of the world is exposed. The essential danger is the conflicting interests and aspirations of Austria-Hungary and Russia. In this context we must note the exceedingly grave character of the speech of Count Berchtold, the Chancellor of Austria-Hungary, made by him to the Hungarian Foreign Affairs Committee on Thursday. The speech concluded with the following words : "Our Balkan policy is no policy of conquest, but this does not mean that we are not interested in the events that occur in the Balkans, where we have weighty and vital interests which we are determined to protect in all circumstances." One has only to consider what these words mean, when applied to the present situation, to appreciate the menace which they contain.
