Tired of a spectacle that had grown somewhat monotonous, the world was clamorous for peace. The belligerents, hitherto deaf to every suggestion of the kind, now accepted an invitation from President Roosevelt and appointed commissioners to arrange the terms of a treaty. They met in August, 1905, at Portsmouth, New Hampshire, and after a good deal of diplomatic fencing the sword was sheathed. In the treaty, since ratified, Russia acknowledges Japan's exceptional position in Korea, transfers to Japan her rights in Port Arthur and Liao-tung, and hands over to Japan her railways in Manchuria. Both parties agree to evacuate Manchuria within eighteen months. Japan was obliged to waive her claim to a war indemnity and to allow Russia to retain half the island of Saghalien. Neither nation was satisfied with the terms, but both perceived that peace was preferable to the renewal of the struggle with all its horrors and uncertainties. For tendering the olive branch [Page 193] and smoothing the way for its acceptance, President Roosevelt merits the thanks of mankind.[*] Besides other advantages Japan has assured her position as the leading power of the Orient; but the greatest gainer will be Russia, if her defeat in the field should lead her to the adoption of a liberal government at home. [Footnote *: Since this was written a Nobel Peace Prize has justly been awarded to the President.] "Peace hath her victories, No less renowned than war." The Czar signified his satisfaction by making Witte the head of a reconstruction ministry and by conferring upon him the title of Count; and the Mikado showed his entire confidence in Baron Komura, notwithstanding some expressions of disappointment among the people, by assigning him the delicate task of negotiating a treaty with China. Though the attitude of China had been as unheroic as would have been Menelaus' had the latter declared neutrality in the Trojan war, the issue has done much to rouse the spirit of the Chinese people. Other wars made them feel their weakness: this one begot a belief in their latent strength. When they witnessed a series of victories on land and sea gained by the Japanese over one of the most formidable powers of the West, they exclaimed, "If our neighbour can do this, why may we not do the same? We certainly can if, like them, we break with the effete systems of the past. Let us take these island heroes for our schoolmasters." [Page 194] That war was one of the most momentous in the annals of history. It unsettled the balance of power, and opened a vista of untold possibilities for the yellow race.