certain and important profits will accrue to Greece, to say nothing of the considerable portion of the wealthy classes of the Continent, who spend some months of every year in Egypt, and who will then stop at Athens before embarking and make tours to the classical ruins, leaving behind them, as tourists do, quite appreciable sums of money, which will be a clear gain to the country. If Serbia is re-established, Greece is certain to draw all the profits from this new situation. On the contrary, were the Pangerman designs in the Balkans to succeed, it would be Great Germany that would secure for herself all the advantages to be got from the great new trunk railway through the Balkans, the control of which she covets as usual. But it is clear that if Germany triumphed, nothing could prevent her from stretching her economic tentacles over Salonika, the Piræus, and the whole of Greece, so that in this form also the independence of Greece would be doomed. Consequently, the Pangerman plan threatens all the vital interests of Greece, since its success would necessarily entail for that country an economic invasion, the ruin of Hellenism, and Bulgarian supremacy in the Balkans. On the contrary, nothing but a victory of the Entente powers can save Greece from these dangers. Greek public opinion understands this better and better. Moreover, in a letter published by _Le Temps_ of 20th February, 1916, Prince Nicolas of Greece, the able diplomat of the royal family, plainly proposed to clear up loyally the misunderstandings that exist between the government of Athens and the Entente. In this letter the following declarations are particularly memorable, because coming from the brother of the King of Greece, they have a bearing which is sufficiently obvious. “There are only two currents in Greece: the one impels Greece to throw herself into the struggle on the side of the Entente, the other favours neutrality. But nobody has ever uttered the thought that in this war we should have taken part on the side of the Central Powers. Greece has remained neutral. She has never declared that nothing could induce her to abandon her neutrality.” On March 9th, the _Patris_ of Athens published an article of General Danglis, formerly Minister of War in the Venizelos Cabinet, which concluded thus: “Greece ought without delay to proceed to the revision of all the classes of her army capable of being called up for service; for without any doubt Greece will be obliged to employ her forces during the present war” (see _Le Temps_, 10th March, 1916). III.