Colonel House, President Wilson’s personal representative, who spent some time in the principal capitals of Europe in the endeavor to ascertain whether there was any tangible peace sentiment which could be utilized by the United States as a basis of mediation, has apparently convinced the President that any movement in that direction would be useless at present. Col. House came in touch with the leading soldiers and statesmen of the various belligerent nations, and he found that no nation was ready to accept any peace terms that the enemy would be likely to offer. One important phase of public sentiment in Germany, as stated by Col. House is the idea that Germany’s most important interests lie in colonial expansion and the incidental development of over-seas commerce, rather than in territorial expansion in Europe itself. To this end Germany, it is believed, will demand as a condition of peace the freedom of the seas—that is, the recognition of the principle that the property, except contraband, of all private owners shall be exempt from seizure on the high seas in time of war. This is a principle for which the United States has always contended. There is no reason why private property on the seas should not be exempt from seizure the same as is private property on the land. Germany’s ambition for colonial expansion may be of vital interest to the United States if that ambition takes the direction of colonial expansion on any part of the American continents. It may be that when peace comes to be arranged our Monroe Doctrine will be subject to closer examination than it ever has been before, and if any disposition is shown by the contracting powers to contravene it, it will be up to the people and government of this country to decide whether they will let down the bars or firmly maintain it. And if we are to maintain it, the question of our physical power to do so will have to be considered. PIRATICAL PERSECUTION OF BIG BUSINESS HALTED