Because of the great and conflicting interests involved, the question of Poland may prove of similar importance and difficulty at the congress which will conclude the present war. Hence, it seems desirable to consider it carefully and in good time. It is true that the study of the Polish problem does not seem to be very urgent at the present moment. In view of the slow progress of the Allies in the east and west, it appears that the war will be long drawn out. Still, it is quite possible that it will come to an early and sudden end. Austria-Hungary is visibly tiring of the hopeless struggle into which she was plunged by Germany, and which hitherto has brought her nothing but loss, disgrace, and disaster. After all, the war is bound to end earlier or later in an Austro-German defeat, and if it should be fought to the bitter end Austria-Hungary will obviously suffer far more severely than will Germany. A protracted war, which would lead merely to the lasting impoverishment of Germany, would bring about the economic annihilation of impecunious Austria. Besides, while a complete defeat would cause to Germany only the loss of territories in the east, west, and north which are largely inhabited by disaffected Poles, Frenchmen, and Danes, and would not very greatly reduce the purely German population of Germany, it would probably result in the dissolution of the Dual Monarchy, which lacks a homogeneous population, and it might lead to Austria's disappearance as a great State. If complete disaster should overwhelm the empire of Francis Joseph, Hungary would undoubtedly make herself independent. The Dual Monarchy would become a heap of wreckage, and in the end the German parts of Austria would probably become a German province, Vienna a provincial Prussian town, the proud Hapsburgs subordinate German princelings. If, on the other hand, Austria-Hungary should make quickly a separate peace with her opponents, she would presumably lose only the Polish parts of Galicia to the new kingdom of Poland, and Bosnia and Herzegovina to Serbia; and she might receive most satisfactory compensation for these losses by the acquisition of the German parts of Silesia and by the adherence of the largely Roman Catholic South German States, which have far more in common with Austria than with Protestant Prussia. As a result of the war, Austria-Hungary might be greatly strengthened at Germany's cost, provided the monarchy makes peace without delay. In any case, only by an early peace can the bulk of the lands of the Hapsburgs be preserved for the ruling house, and can national bankruptcy be avoided. There is an excellent and most valuable precedent for such action on Austria's part. Bismarck laid down the essence of statesmanship in the maxim "Salus Publica Suprema Lex," and defined in his memoirs the binding power of treaties of alliance by the phrase "Ultra posse nemo obligatur." Referring particularly to the