The Council of Ministers is now drawing up their reply to the Austrian note. I am informed by the Under Secretary of State for Foreign Affairs that it will be most conciliatory and will meet the Austrian demands in as large a measure as is possible.... The Servian Government consider that, unless the Austrian Government want war at any cost, they cannot but be content with the full satisfaction offered in the Servian reply.[23] [Footnote 23: English _White Paper_, No. 21.] These pacific suggestions to Servia met with complete success, and as a result that country on July 25th, and before the expiration of the ultimatum, made a reply to Austria which astonished the world with its spirit of conciliation and for a short time gave rise to optimistic hopes of peace. At some sacrifice of its self-respect as a sovereign State, it accepted substantially the demands of Austria, with a few minor reservations, which it expressed its willingness to refer either to arbitration at The Hague Tribunal or to a conference of the Powers.[24] [Footnote 24: English _White Paper_, No. 39.] Neither Germany nor Austria seriously contended that the reply was not on its face a substantial acquiescence in the extreme Austrian demands. They contented themselves with impeaching the sincerity of the assurances, calling the concessions "shams." Unless Austria, in asking assurances from Servia, were content to accept them as made in good faith and allow their sincerity to be determined by future deeds, why should the ultimatum, calling for such assurances, have been made? If Germany and Austria had accepted Servia's reply as sufficient, and Servia had subsequently failed to fulfill its promises in the utmost good faith, there would have been little sympathy for Servia, and no general war. Russia and England pledged their influence to compel Servia, if necessary, to meet fully any reasonable demand of Austria. The principal outstanding question, which Servia agreed to arbitrate or leave to the Powers, was the participation of Austrian officials in the Servian courts. This did not present a difficult problem. Austria's professed desire for an impartial investigation could have been easily attained by having the Powers appoint a commission of neutral jurists to make such investigation. In any event, Austria could have accepted the very substantial concessions of Servia and without prejudice to its rights proceeded to The Hague Tribunal or to a concert of the Powers as to the few and comparatively simple open points. When one recalls the infinite treasure of property and life, which would thus have been saved the world, had Germany and Austria accepted this reasonable and pacific course, one can only exclaim, "_But oh, the pity of it!_"