My policy might best be described as that of "a silent resolve to obtain Peace." It was utterly wrong to publish our readiness for Peace broadcast. We should have presented a strong front to the outside world, and we should have increased the powers of resistance which we actually possessed by emphasizing our strength both to our people at home and to other States. According to my view, we ought, after the first battle of the Marne, to have recognized in our heart of hearts that victory was out of the question, and consequently we should have striven to conclude a Peace, the relatively unfavorable terms of which might perhaps have temporarily staggered public opinion in Germany and created some indignation. It was not right, however, to allow deference to public opinion to outweigh other considerations, as it did in our case. The political leaders of the Empire ought to have kept the High Military Command, which from its point of view naturally demanded firmer "assurances" than the general situation warranted, more thoroughly within bounds, just as Bismarck did. Presumably the High Military Command would have been able to perform its duties quite as efficiently if it had been prevented from exercising too much influence on the policy which aimed at a conclusion of peace. As a politician I consider that the ultimate cause of our misfortune was our lack of a uniform policy both before and during the war. If, at the time of Bismarck's retirement, we had made a timely and resolute decision either in favor of the Western Policy that he advocated, or in favor of the Eastern Policy, we should have prevented the development of a situation in the politics of the world which ultimately led to our own undoing. If, during the war, however, we had completely abandoned the U-boat campaign, and had made every possible effort to come to an understanding with America, we should, in my opinion, have been able to extricate ourselves from it satisfactorily. Be this as it may, it is also possible that if the U-boat campaign had been prosecuted resolutely, and without any shilly-shallying--a thing I never wished--we should not have suffered so complete a collapse from the military, economic, political and moral point of view, as we must otherwise have done. According to my view it is the hesitating zigzag course that we pursued which is chiefly to blame for the fact that of all possible results of the epoch of German world-politics, the unhappiest for ourselves has come to pass. The Wilhelminian Age perished owing to the fact that no definite objects were either selected or pursued in good time, and, above all, because both before and during the war, two systems in the Government of the country were constantly at variance with each other and mutually corroding. CHAPTER I GERMANY AND THE UNITED STATES BEFORE THE WAR