For the sacrifice demanded of Greece in Epirus the Great Powers permitted her by way of compensation to retain all the Aegean Islands occupied by her during the war, except Imbros, Tenedos, and the Rabbit Islands at the mouth of the Dardanelles. These islands, however, Greece is never to fortify or convert into naval bases. This allotment of the Asiatic Islands (which includes all but Rhodes and the Dodecanese, temporarily held by Italy as a pledge of the evacuation of Libya by the Turkish officers and troops) has given great dissatisfaction in Turkey, where it is declared it would be better to have a war with Greece than cede certain islands especially Chios and Mitylene. The question of the disposition of the islands had, however, been committed by Turkey to the Great Powers in the Treaty of London. And Turkish unofficial condemnation of the action of the Powers now creates a dangerous situation. Mr. Venizelos declared not long ago, with the enthusiastic approval of the chamber, that the security of Greece lay alone in the possession of a strong navy. For Mr. Venizelos personally nothing in all these great events can have been more gratifying than the achievement of the union of Crete with Greece. This was consummated on December 14, when the Greek flag was hoisted on Canea Fort in the presence of King Constantine, the prime minister, and the consuls of the Great Powers, and saluted with 101 guns by the Greek fleet. KING CONSTANTINE Fortune in an extraordinary degree has favored the King of the Hellenes--Fortune and his own wise head and valiant arm and the loyal support of his people. When before has a Prince taken supreme command of a nation's army and in the few months preceding and succeeding his accession to the throne by successful generalship doubled the area and population of his country? [Map: map3.png Caption: The Balkan Peninsula after the Wars of 1912-1913.] COST OF THE WAR The Balkan wars have been bloody and costly. We shall never know of the thousands of men, women, and children who died from privation, disease, and massacre. But the losses of the dead and wounded in the armies were for Montenegro 11,200, for Greece 68,000, for Servia 71,000, for Bulgaria 156,000, and for Turkey about the same as for Bulgaria. The losses in treasure were as colossal as in blood. Only rough computations are possible. But the direct military expenditures are estimated at figures varying from a billion and a quarter to a billion and a half of dollars. This of course takes no account of the paralysis of productive industry, trade, and commerce or of the destruction of existing economic values.