While the war was going on, a separate peace on our side that would have delivered up Germany would have been treachery. But had attempts at peace failed owing to the claims put forward by Germany, we should have been morally justified in breaking away from them, as we were united together in a war of defence and not in a war of conquest. Although the German military party both dreamed and talked incessantly of conquest, which doubtless gave rise to a misunderstanding of the situation, that was by no means the exclusive reason why peace could not be attained. It simply was because on no consideration could the Entente be induced to pardon Germany. I have already mentioned this in my speech of December 11, 1918,[2] in which I discoursed on politics in the world war: "Ludendorff is exactly like the statesmen of France and England. None of them wishes to compromise, they only look for victory: in that respect there is no difference between them." As long as I was in office the Entente would never come to an agreement with Germany _inter pares_, thereby directly forcing us to assume the part of a war of defence. Had we succeeded in what we so often attempted to do, namely to make the Entente pronounce the saving word; and had we ever been able to make the Entente state that they were ready to conclude a _status quo_ peace with Germany, we would have been relieved of our moral obligations. Against this may be quoted: "_Salus rei publicas supreme lex_"--in order to save the Monarchy Germany would have to be given up, and therefore the other question must be inquired into as to whether the "physical possibility" of a separate peace really did exist. I also mentioned this matter in the aforesaid speech, and expressly stated then, and withdraw nothing, that after the entry of England, then of Italy, Roumania, and finally of America into the war, I considered a victory peace on our side to be a Utopian idea. But up to the last moment of my official activities, I cherished the hope of a _peace of understanding_ from month to month, from week to week, even from day to day, and believed that the possibility would arise of obtaining such a peace of understanding, however great the sacrifices. Just as little as anyone else could I foresee the end which practically has arrived, nor yet the present state of affairs. A catastrophe of such magnitude and such dimensions was never what I feared. This is confirmed in the published report of my aforesaid speech, where I say: "A victory peace was out of the question; we are therefore compelled to effect a peace with sacrifice." The Imperial offer to cede Galicia to Poland, and, indirectly, to Germany, arose out of this train of thought, as did all the peace proposals to the Entente, which always clearly intimated that we were ready for _endurable_ sacrifices.