Constantinople is not a national city; it is now, and it has always been, an artificial cosmopolis, and Constantinople and the Dardanelles are essentially the gate of the Black Sea. It is to Russia that the waterway is of supreme importance. Any other Power upon it can strangle Russia; Russia, possessing it, is capable of very little harm to any other country. Roumania is the next most interested country. But Roumania can reach up the Danube and through Bulgaria, Serbia or Hungary to the outer world. Her greatest trade will always be with Central Europe. For generations the Turks held Thrace and Anatolia before they secured Constantinople. The Turk can exist without Constantinople; he is at his best outside Constantinople; the fall of Constantinople was the beginning of his decay. He sat down there and corrupted. His career was at an end. I confess that I find a bias in my mind for a Russian ownership of Constantinople. I think that if she does not get it now her gravitation towards it in the future will be so great as to cause fresh wars. Somewhere she must get to open sea, and if it is not through Constantinople then her line must lie either through a dependent Armenia thrust down to the coast of the Levant or, least probable and least desirable of all, through the Persian Gulf. The Constantinople route is the most natural and least controversial of these. With the dwindling of the Turkish power, the Turks at Constantinople become more and more like robber knights levying toll at the pass. I can imagine Russia making enormous concessions in Poland, for example, accepting retrocessions, and conceding autonomy, rather than foregoing her ancient destiny upon the Bosphorus. I believe she will fight on along the Black Sea coast until she gets there. This, I think, is Russia's fundamental end, without which no peace is worth having, as the liberation of Belgium and the satisfaction of France is the fundamental end of Great Britain, and Trieste-Fiume is the fundamental end of Italy. But for all the lands that lie between Constantinople and West Prussia there are no absolutely fundamental ends; that is the land of _quid pro quo_; that is where the dealing will be done. Serbia must be restored and the Croats liberated; sooner or later the south Slav state will insist upon itself; but, except for that, I see no impossibility in the German dream of three kingdoms to take the place of Austro-Hungary, nor even in a southward extension of the Hohenzollern Empire to embrace the German one of the three. If the Austrians have a passion for Prussian "kultur," it is not for us to restrain it. Austrian, Saxon, Bavarian, Hanoverian and Prussian must adjust their own differences. Hungary would be naturally Habsburg; is, in fact, now essentially Habsburg, more Habsburg than Austria, and essentially anti-Slav. Her gravitation to the Central Powers seems inevitable.