This is only partly due, however, to the innate sobriety and habits of work of the Bulgarian people. They have enjoyed the advantage of not having a large industrial population, herded together in cities, and dependent for prosperity upon ability to compete on equal terms in world markets. And no sooner was the ink dry on the Treaty of Neuilly than the Entente Powers began once more secretly at Sofia to win a favorite position, as they had done in the past. All wanted to do business with the Bulgarians. Great Britain and France were anxious to keep Sofia from a _rapprochement_ with Moscow. This meant everything to Rumania, also. France thought Bulgaria might some day be useful against Greece, and Italy needed a revived Bulgaria with which to threaten Greece and Serbia. If only Greece and Serbia can be properly “managed” by their supporters of 1919, it is within the possibility of Entente diplomacy to expect to see the Treaty of Neuilly modified, in its political as well as its economic clauses, within the near future. Greece has already had that experience in regard to Turkey. If the Entente Powers feel that it is to their interest to do so, they will not hesitate to offer Bulgaria, at the expense of Greece and Serbia, what they took away from her in 1919, to the profit of Greece and Serbia. There is already talk of Rumania modifying her southern frontier in the Dobrudja in favor of Bulgaria. An offer of this sort Rumania will certainly make if she is threatened with invasion by Russia. The dominant rôle in post-bellum Bulgaria has been played by Premier Stambulisky, who owed his position to the confidence he won several years ago and has maintained up to the Revolution in the Agrarian party. His remarkable hold upon the Bulgarian peasantry was due to his cleverness in saving this largest element in the country from feeling the financial consequences of losing the war. He has deliberately catered to the peasants, frankly basing his power upon their support and as frankly shaping his attitude toward problems as they arose by the desire to keep the favor of the peasants. In defiance of the Nationalists, Stambulisky came to an agreement with the Reparations Commission to give them powers over Bulgarian revenues in return for low taxation of the peasants. This hastened his downfall.