The New York Stock Exchange began to gamble about
the date of victory. The London Stock Exchange took on a new firmness.
Not even the sinister losses at Neuve Chapelle, nor the rumors
concerning the same, could disturb our confidence. Peace, therefore, in
the general view, and certainty in the view of those who knew most, is
decidedly nearer than when I wrote last about peace.
A short while ago Mr. Asquith referred with sarcasm and reproof to those
who talk of peace. But, for once, his meaning was not clear. If he meant
that to suggest peace to the enemy at this stage is both dangerous and
ridiculous, he will be approved by the nation. But if he meant that
terms of peace must not even be mentioned among ourselves, he will find
people ready to disagree with him, and to support the weight of his
sarcasm and his reproof. I am one of those people. Bellicose by
disposition, I nevertheless like to know what I am fighting for. This is
perhaps an idiosyncrasy, but many persons share it, and they are not to
be ignored. It may be argued that Mr. Asquith has defined what we are
fighting for. He has not. He has only defined part of what we are
fighting for.
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