But, to come to the point. Before passing on to a consideration of the various phases of the work for peace, I should like to point out two things: firstly, that since the entry of Italy and Roumania into the war, and especially since the entry of America, a "victorious peace" on our part has been a Utopian idea, a Utopia which, unfortunately, was throughout cherished by the German military party; and, secondly, that we have never received any offer of peace from the Entente. On several occasions peace feelers were put forward between representatives of the Entente and our own; unfortunately, however, these never led to any concrete conditions. We often had the impression that we might conclude a separate peace without Germany, but we were never told the concrete conditions upon which Germany, on its part, could make peace; and, in particular, we were never informed that Germany would be allowed to retain its possessions as before the war, in consequence of which we were left in the position of having to fight a war of defence for Germany. We were compelled by our treaty to a common defence of the pre-war possessions, and since the Entente never declared its willingness to treat with a Germany which wished for no annexations, since the Entente constantly declared its intention of annihilating Germany, we were forced to defend Germany, and our position in Berlin was rendered unspeakably more difficult. We ourselves, also, were never given any assurance that we should be allowed to retain our former possessions; but in our case the desire for peace was so strong that we would have made territorial concessions if we had been able thereby to secure general peace. This, however, was not the case. Take Italy, for instance, which was primarily at war with ourselves and not with Germany. If we had offered Italy concessions however great, if we had offered all that Italy has now taken possession of, even then it could not have made peace, being bound by duty to its Allies and by circumstances not to make peace until England and France made peace with Germany. When, then, peace by sacrifice was the only peace attainable, obviously, as a matter of principle, there were two ways of reaching that end. One, a general peace, i.e. including Germany, and the other, a separate peace. Of the overwhelming difficulties attending the former course I will speak later; at present a few words on the question of separate peace.