Mr. Lloyd George confessed that he had hoped for a
decision this year, but the temporary collapse of Russia had postponed his hopes. Nevertheless time, once " a doubtful and dangerous neutral," was now on our side. America, with her immense resources, had come into the war. Moreover, the German submarine campaign was a failure. Our average monthly loss in tonnage was not much over a third of what it was last April. We had in the ten months of this year disposed of twice as many German submarines as the enemy lost in the whole of last year. Much of the credit for this success was, said Mr. Lloyd George, due to the insight, the courage, and the persistency of Sir Edward Carson. Germany had reason also to fear the economic pressure whioh our new Allies in America and the East could bring to bear by refusing to sell her their raw produce. Victory was certain, the Prime Minister concluded, if we remained firm and united. We must beware of people who tried to sow dissension. Taking a hint from France, we must " look out for Boloism in all its shapes and forms," for it was the latest and most formidable weapon in the German armoury. Fortunately the Allied Governments, on the eve of the Paris Conference, were working in the greatest harmony.
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