"Should Your Excellency, however, regard the delivery of the memorandum as indiscreet, I request that it may be deferred.
"For Your Excellency's information (strictly confidential):
"1. The memorandum is written personally by His Majesty.
"2. Unrestricted submarine warfare is for the present deferred.
"Memorandum
"Your Excellency hinted to His Majesty in your last conversation at Charleville in April that President Wilson possibly would try towards the end of summer to offer his good services to the belligerents for the promotion of peace. The German Government has no information as to whether the President adheres to this idea, and as to the eventual date at which his step would take place. Meanwhile the constellation of war has taken such a form, that the German Government foresees the time at which it will be forced to regain the freedom of action that it has reserved to itself in the Note of May 4th last, and thus the President's steps may be jeopardized."
Mr. Gerard arrived in New York a few days after I had received the Emperor's memorandum. He was accompanied by the American journalist, Herbert Swope, a correspondent of The World, who had spent a considerable time in Berlin. This gentleman professed to be Mr. Gerard's confidant, and even from the ship sent wireless messages to his paper in which he reported that the unrestricted submarine campaign was imminent. The Ambassador also, after landing in New York, expressed himself, as I at once learned, to the same effect, and Mr. Swope continued his open Press-campaign in this direction.
Under these circumstances I considered it inopportune to give Mr. Gerard the Emperor's memorandum, as I assumed that he would read into it merely a confirmation of his view, and would discuss it in that light. If, however, the idea spread abroad that we were about to begin the unrestricted submarine campaign all prospect of success for peace mediation was lost. It was indeed clear that the Entente would not accept American mediation if they could hope for the submarine campaign and consequent declaration of war by the United States. It must continually be repeated that mediation could only succeed if the Entente had already abandoned all hope of American assistance. On these considerations I handed the memorandum to Colonel House, of whose discretion I had two years' experience. In this way it came into the hands of the equally unusually discreet President, without anyone else learning anything about it. The memorandum at once produced a great effect, as now the American authorities had no further doubt that the Imperial Government would accept the intended mediation. This could, however, not be speeded up because Mr. Wilson did not want to undertake a great political movement so shortly before the election.
At this time I sent the following report to the Chancellor:
Telegram in Cipher