The most recent news from Italy shows that the military
and naval preparations of the Government go on with increased intensity. At the same time, the negotiations for the buying off by Austria of Italian hostility seem to have broken down, partly owing to the unwillingness of the Austrians to make the necessary sacrifices, and still more owing to the impossibility of discovering conditions which will satisfy the two Powers, neither of which is able to trust the other. Indeed, the problem, from this point of view, is hopeless. The Austrians will not give up territory at once because they feel that to do so would place their southern frontier at the mercy of the Italians. On the other hand, the Italians feel that if they rely upon the promises of the Austrians, the Austrians at the end of the war, granted that they and the Germans win, would be sure to say that promises extorted under threats were no promises and need not be kept. Indeed, the Austrians would ho only too likely in that case to say that punishment ought to be awarded to a faithless ally.
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