the principal and exclusive theatre of war, a theory which prevented the intervention by way of Salonika, at a time when it might still have been easily effected, between May and July, 1915. Nevertheless, that apparent inactivity has been used by the Germans to excite discontent in Russia against the French, and their efforts have not been unsuccessful, for during a long time many Russians were much annoyed with the French for an inactivity which seemed to them inexplicable. This instance may help us to understand what a disastrous effect would be produced in Russia by the news that in the West the newspapers or influential circles contemplate as possible a separate peace with Turkey at the very moment when the Russian arms are more and more successful in Armenia, and when these successes not only console the soldiers of the Tsar for their former reverses, but also render the Allies a substantial service by draining the Balkan peninsula of Turkish troops, and thus facilitating the Allied offensive from Salonika Northward. Such are the various results aimed at by the astute new dodge of a separate peace with the Ottoman empire. Surely it is only necessary to recognize them to prevent the Allies from being caught in the new Turko-German trap. III. Contemporaneously with the rumour of a separate peace with Turkey, in February, 1916, a suggestion was mysteriously made to the Western Allies that the Bulgarians also wished to treat with them. The two manœuvres, as we shall see, are in fact closely connected. If the Bulgarians were to come and say to the Allies: “We have been deceived, deluded by Berlin, we have pursued an odious policy. As a proof of our good faith we will evacuate immediately the Serbian territories which we have invaded, and we will do all in our power to undo the mischief we have done. Grant us peace on these terms”; in that case, clearly enough, there would be some reason for listening to Sofia. But it would be entirely to mistake the character of the Bulgarians and of their government to imagine that they could even dream of such a proposal. What the Bulgarians would like well enough would be a peace with the Allies, which should allow them to retain their territorial acquisitions, the permanent character of which was proclaimed by M. Radoslavoff on March 1st, 1916. Such a settlement, moreover, as we shall see, would square exactly with the interests of Sofia and Berlin.