The terms of the treaty of peace are moderate; but it should be understood that what Austria loses is very inadequately expressed by these terms, and what Prussia gains not at all; and what Prussia gains at the expense of Austria, important as it is, is less important than what she has gained from France. From Austria she has taken the first place in Germany; from France, the first place in Europe, which is the same thing as the first place in Christendom, or the world,--meaning by the world that portion of mankind which has power and influence and leadership, because of its knowledge, culture, and wealth. The moral blow falls with greater severity on France than on Austria. Austria had no right whatever to the first place in Germany. There was something monstrous, something highly offensive, in the Germanic primacy of an empire made up of Magyars, Poles, Bohemians, Italians, Slavonians, Croats, Illyrians, and other races, and not above a fourth of whose inhabitants were Germans. Prussia had in June last twice as many Germans as Austria, though her entire population was not much more than half as large as that of her rival;[48] and when she turned Austria out of Germany at the point of the needle-gun, she simply asserted her own right to the leadership of Germany. But no one will say that there can be anything offensive in a French primacy of Christendom. Objection may be made to any primacy; but if primacy there must be, as mostly there has been, France has the best claim to it of any country. England might dispute the post with her, and England alone; for they are the two nations of modern times to which the world is most indebted. But England has, all but in direct terms, resigned all pretensions to it. Prussia, therefore, by conquering for herself the first place in the estimation of mankind, who always respect the longest and sharpest sword, unhorsed France. Napoleon III. lost more at Sadowa than was lost by Francis Joseph; and we cannot see how he will be able to recover his loss, should Prussia succeed in her purpose to create a powerful Germanic empire,--and all things point to her success. A new force would be introduced into the European system, of which we can only say, that, if its mere anticipation has been sufficient to curb France on the side of the Rhine, its realization ought to be sufficient to prevent France from extending her dominion in any direction--say over Belgium--which such extension is inclined to take.