The policy outlined in these quotations from Mr. Wilson's proclamation won the approval of an overwhelming majority of the American people, for even among the supporters of the Entente there was only a small minority who desired an active participation in the war by the United States. Apart from the fact that the traditional American policy seemed to preclude any such intervention in European affairs, it was to the interest of the United States to play with unimpaired power the rôle of _Arbiter mundi_, when the States of ancient Europe, tired of tearing one another to pieces, at last longed for peace again. America could not but hope that neither of the two warring parties would come out of the war in a dominating position. There is, therefore, a certain modicum of truth in the view frequently expressed in Germany that the United States would in any case finally have entered the war to prevent the so-called "German Peace." But the question is whether such a peace was possible in face of the superior strength of our enemies. If we had won the first battle of the Marne and had then been prepared to restore Belgium and conclude a moderate peace, it is conceivable that we might have come to terms with England on the basis of a kind of Treaty of Amiens. After the loss of the battle of the Marne a "German Peace" was out of the question. The possibility of such a peace has never recurred. It was therefore necessary for the German policy to strive for a peace by understanding on the basis of the _status quo_. Just as Frederick the Great defended Prussia's newly won position as a great Power against overwhelming odds, so we were fighting under similar conditions for the maintenance of Germany's position in the world. Our Government had declared _urbi et orbi_ that they were waging a defensive war, and were therefore obliged to regulate their policy accordingly. If we had desired a peace like that of Hubertusburg we should have won. It is often contended in Germany to-day that it would still have been possible to attain this end. I have struggled for it in America for two and a half years and am as convinced to-day as I was then, that by acquiescing in the policy of the United States we should have obtained a peace which would have met the needs of the German people, if only those who desired the same thing at home had been in a position to carry their wishes through.