Moreover, to my certain knowledge, within a month, a leading socialist in France has boasted to one of the members of this conference that it would end in failure; that the monarchs and governments of Europe do not wish to diminish bloodshed; that they would refuse to yield to the desire of the peoples for peace, and that by the resentment thus aroused a new path to victory would be open to socialism. Grant, too, that this is overstated, still such a declaration is significant. I know it has been said that arbitration is derogatory to sovereignty. I really fail to see how this can be said in Germany. Germany has already submitted a great political question between herself and Spain to arbitration, and the Emperor William I was himself the arbiter between the United States and Great Britain in the matter of our northwestern boundary. Bear in mind again that it is only VOLUNTARY arbitration that is proposed, and that it will always rest with the German Emperor to decide what questions he will submit to the tribunal and what he will not. It has also been said that arbitration proceedings would give the enemies of Germany time to put themselves in readiness for war; but if this be feared in any emergency, the Emperor and his government are always free to mobilize the German army at once. As you are aware, what is seriously proposed here now, in the way of arbitration, is not a tribunal constantly in session, but a system under which each of the signatory powers shall be free to choose, for a limited time, from an international court, say two or more judges who can go to The Hague if their services are required, but to be paid only while actually in session here; such payment to be made by the litigating parties. As to the machinery, the plan is that there shall be a dignified body composed of the diplomatic representatives of the various signatory powers, to sit at The Hague, presided over by the Netherlands minister of foreign affairs, and to select and to control such secretaries and officers as may be necessary for the ordinary conduct of affairs. Such council would receive notice from powers having differences with each other which are willing to submit the questions between them to a court, and would then give notice to the judges selected by the parties. The whole of the present plan, except some subordinate features of little account, which can easily be stricken out, is voluntary. There is nothing whatever obligatory about it. Every signatory power is free to resort to such a tribunal or not, as it may think best. Surely a concession like this may well be made to the deep and wide sentiment throughout the world in favor of some possible means of settling controversies between nations other than by bloodshed.