Besides, _Deterding knows more about the affairs of the_ Standard _than the_ Standard _itself_. This statement was made by a director of the American company. Deterding has no difficulty in following its movements. On one of his visits to New York, he installed himself in the Board-room of the _Standard_, in order to tell the directors that he was not satisfied with the way in which the Chinese agreement was respected, that they owed him a rebate on oil sold in his preserves, and that they must not sell any more there--or it would be war. He spoke for ten or fifteen minutes, and that was time enough to say a great deal. Without a note, he quoted many details, and even figures; for example, the exact number of gallons sold by the _Standard_ in various places. And when one of his hearers inquired, after his departure, whether it was all accurate, another of Mr. Deterding's interrogators replied: "Last time he came, we took down all his statements in shorthand and verified them afterwards. We saw that he had an incredible knowledge of our affairs in every country in which our interests conflict with his own." Will there soon be a renewed conflict between the _Royal Dutch_ and the _Standard Oil_? Deterding wanted it quite recently. If we are to believe the authorities on the matter, we have narrowly escaped the greatest oil war in history. For once, Deterding gave way to the moderate counsels of the more conservative members of his company, and war was not declared. Mr. Colijn was sent from The Hague to the office in Great St. Helen's, in the city of London, and it was announced that Mr. Deterding was taking a much-needed rest. These personal struggles with the _Standard_ are probably at an end. Agreement is actively sought, at present, between the _Standard_ and the _Anglo-Persian_, especially owing to the influence of Sir John Cadman. Since 1922, Elliot Alves and the _British Controlled Oil-fields_ have followed the same policy. Perhaps before long there will be an "oil peace," concluded between the directors of the great Trusts. Was it not even outlined at The Hague Conference? Time will show how long it will last. My information, drawn from an authoritative source, tends to prove that a great re-grouping of oil interests will not long be delayed. A true saying, but perhaps a strange one--"Oil will be poured on the troubled waters of Europe." For economics is more powerful than politics. We are at the dawn of the great "Age of Oil." FOOTNOTES: [Footnote 13: Only for the American portion of its production are the costs of the _Royal Dutch_ as high as those of the _Standard_.] PART III THE STRUGGLE BETWEEN THE POWERS CHAPTER VII THE _EUROPEANISCHE PETROLEUM UNION_: A German Trust for the Control of European Oil, which Foundered in the Great World Conflict