(3) Any semblance of the weakening of our allied relations must be avoided.

(4) No concession of Hungarian territory may take place without the knowledge of the Prime Minister.

(5) Should the Austrian Ministry agree with the Foreign Minister respecting a cession of Austrian territory, the Hungarian Prime Minister will naturally acquiesce.

When the conference in London and the destruction of the Monarchy came into question, Tisza was entirely in the right, and that he otherwise to the end adhered to his standpoint is proved on the occasion of his last visit to the Southern Slavs, which he undertook at the request of the Emperor immediately before the collapse, and when in the most marked manner he showed himself to be opposed to the aspirations of the Southern Slavs.

Whoever attempts to judge in objective fashion must not, when looking back from to-day, relegate all that has since happened to former discernible facts, but should consider that, in spite of all pessimism and all fears, the hopes of a reasonable peace of understanding, even though involving sacrifices, still existed, and that it was impossible to plunge the Monarchy into a catastrophe at once for fear of its coming later.

If the situation is described to-day as though the inhabitants of the Monarchy, and especially the Social Democrats, were favourably disposed for any eventuality, even for a separate peace, I must again most emphatically repudiate it. I bear in mind that Social Democracy without doubt was the party most strongly in favour of peace, and also that Social Democracy in Germany, as with us, repeatedly stated that there were certain limits to its desire for peace. The German Social Democrats never agreed that Alsace-Lorraine ought to be given up, and never have our Social Democrats voted for ceding Trieste, Bozen and Meran. This would in any case have been the price of peace—and also the price of a separate peace—for, as I have already pointed out, at the conference in London, which dates back to 1915, binding obligations had been entered into for the partition of the Monarchy, while all that had been promised to Italy.

The fall of the Monarchy was quite inevitable, whether through the separation from Germany or through the vacillation in the Entente ranks—for the claims of the Italians, the Roumanians, the Serbians, and the Czechs had all been granted. In any case the Monarchy would have fallen and German-Austria have arisen as she has done now; and I doubt whether the part played by that country during the proceedings would have recommended it to the special protection of the Entente. It is a very great mistake, whether conscious or unconscious, to believe and to maintain that the population of German-Austria, and especially the present leaders of Social Democracy, are devoid of any strong national feeling. I refer to the part played by the Austrian Social Democracy in the question of union. It was the motive power in the union with Germany, and the papers repeated daily that no material advantages which the Entente could offer to Austria could alter the decision. How, therefore, can this same Social Democracy, whose entire political views and aims are subordinate to the desire for a union with Germany—how can this Social Democracy demand a policy which, without doubt, must lead not only to a separation from Germany, but to a fratricidal war with the German nation? And why condemn the upholding of allied relations when Andrassy was abused for doing the opposite?

But what was the situation in March, 1918, shortly before my resignation? Germany stood at the height of her success. I do not pretend to say that her success was real. In this connection that is of no moment; but the Germans were persuaded that they were quite near a victorious end, that after leaving the Eastern front they would throw themselves on to the Western front, and that the war would end before America had time to come in. Their reckoning was at fault, as we all know to-day. But for the German generals the will to victory was the leading spirit, and all decisions arrived at by Germany against the defection of Austria-Hungary proceeded from that dominant influence.

As already mentioned, I stated in my speech of December 11, on foreign policy, that neither the Entente nor Germany would conclude a peace of renunciation. Since then I have had opportunity to speak with several men of the Entente, and consequent on the views that I obtained, I feel I must formulate my previous opinion in still stronger terms. I came to the firm conclusion that the Entente—England above all—from the summer of 1917 at any rate, had formed an unbending resolve to shatter Germany.

From that time onwards England, with the obstinacy which is her chief characteristic, appears to have been determined not to treat further with Germany, nor to sheathe her sword until Germany lay crushed to earth. It makes no difference in the matter that the German military party—though for other reasons—from a total misconception of their chances of victory, steadily refused a peace involving sacrifice at a time when it might have been possible. This is an historical fact, but as an upholder of truth I must distinctly state that I doubt whether concessions would have changed the fate of Germany. We could have gone over to the enemy—in 1917 and also in 1918; we could have fought against Germany with the Entente on Austro-Hungarian soil, and would doubtless have hastened Germany's collapse; but the wounds which Austria-Hungary would have received in the fray would not have been less serious than those from which she is now suffering: she would have perished in the fight against Germany, as she has as good as perished in her fight allied with Germany.