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Karl Helfferich's account in Weltkrieg gives the impression that the question of American mediation was mentioned for the first time on the 1st May. The two journeys of Colonel House, which were of far greater importance than Mr. Gerard's visit to G.H.Q., are not mentioned in the Helfferich account.

After analyzing Doctor Helfferich's report published six years ago, the article concluded, "Germany must pay; she disposes of the means because she is rich; if she refuses we must compel her without hesitation and without ruth."

According to Karl Helfferich's account the question was discussed at the time between himself, the Imperial Chancellor and Herr von Jagow.

Karl Helfferich's account confirms the view I held at that time, that our concessions in respect of the submarine campaign were essentially prompted by the hope of mediation by Mr. Wilson. The following words of the Emperor make this plain: "In politics it is necessary, before all things, to know the other party's point of view; for politics are a question of give and take.

In Helfferich's account of these events, the author says: "If Count Bernstorff was, and apparently is still, of the opinion, that Wilson was actually engaged in trying to bring about a peace which would have been acceptable and tolerable to us, and with a promise of success, this can only be explained as the result of the enduring effect of suggestion, which, acting upon him for two years, had had no really adequate knowledge of home opinion to counteract it.

"These are American principles, American policies. We could stand for no others. And they are also the principles and policies of forward looking men and women everywhere, of every modern nation, of every enlightened community. They are the principles of mankind and must prevail." In Helfferich's account of these matters, the author charges this appeal of Mr.

I gather from the account in Karl Helfferich's "World War," Vol. II., p. 322, that the Secretary of the Treasury in Berlin was in favor of this policy, which I held to be the only possible one. When he stated, as before mentioned, that his proposal had found no support from the Foreign Office, I was much astonished. I was instructed to commence negotiations verbally and confidentially with Mr.