It is not too much to say that the main lines of the future treaty with Germany were settled by the verdict of the British election. Mr. Lloyd George and his associates, against their own better judgment and convictions, appealed to the passions and prejudices of the masses to secure a parliamentary majority. Since both Mr. Lloyd George and Mr. Bonar Law have repeatedly repudiated by acts, speeches, and written statements their own policies and arguments advanced in December, 1918, there could be no doubt of the fairness and accuracy of this assertion. On December 10 Mr. Lloyd George summed up the Coalition program in the following points of treaty policy: (1) trial of the Kaiser; (2) punishment of those responsible for atrocities; (3) fullest indemnities from Germany. Speaking at Bristol the next day Mr. Lloyd George, on the eve of the election, declared that “we propose to demand the whole cost of the war from Germany,” that this was “an absolute right,” and that a financial committee appointed by the British Cabinet believed that all the costs of the war could be extracted from Germany. After his triumphant return to power Mr. Lloyd George explained that the sole guilt and responsibility of Germany for the war was to be the basis of the peace treaty, and not Mr. Wilson’s principles. Nearly a year after the Treaty of Versailles was signed (in May, 1920) he repeated that the Treaty of Versailles was built upon the assumption of Germany’s sole guilt and had no other jurisdiction. The practicability of trying the Kaiser and of extracting from Germany the total expenses of the war was not questioned by responsible British statesmen of the Coalition party until long after the Treaty of Versailles had been made.