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1870, a figure of 3 or 4000 millions Sterling is not so extravagant, for the damage done to property by the Germans and Austrians far exceeds anything known in History. Even the destruction wrought by the hordes of Jinghiz Khan in the i3th Century in Asia and in Russia and Hungary cannot have been on anything like the present scale, except, perhaps, in Khorassan and some other parts of Central Asia which have never recovered; we are reminded of the sad fate of those countries by the statement recently published, regarding some parts of northern France, said to be so completely ruined as to be uninhabitable, and likely to be avoided for many years to come.

It will be necessary to call all Powers together, and not the belligerents only, because, in the first place, this would ensure the adhesion of them all to the Union of Europe, sothat none of them could, later on, shirk its duty, which would be active intervention whenever a State breaks the peace of the world. Secondly, the Neutrals would be able to plead whatever extenuating circumstances may be put forward on behalf of the aggressors, especially because it may be taken for granted that the Teutonic nations will in the long run have to adopt some other form of Government, with which negotiations could be opened.

We may, afier the repeated statements made by the leading politicians of the Great Powers, take it for granted, that there will not be much cession of territory, except in so far, as the principle that nationality