The great French statesman, Talleyrand, is supposed to have said:  words are merely to conceal thoughts.  It may be that it was true respecting the diplomacy of his century, but I cannot imagine a maxim less suited to the present day.  The millions who are fighting, whether in the trenches or behind the lines, wish to know why and wherefore they are fighting.  They have a right to know why peace, which all the world is longing for, has not yet been made.

When I entered upon office I seized the first opportunity openly to state that we should commit no violence, but that we should tolerate none, and that we were ready to enter into peace negotiations as soon as our enemies accepted the point of view of a peace of understanding.  I think I have thus clearly explained, though on broad lines only, the peace idea of the Austro-Hungarian Monarchy.  Many at home and also in friendly countries abroad have reproached me for speaking so openly.  The arguments of the said critical gentlemen have only confirmed my belief in the justness of my views.  I take nothing back of what I said, convinced as I am that the great majority of people here and in Austria approve my attitude.  Following on these introductory remarks, I feel called upon to-day to tell the public how the Imperial and Royal Government will deal with the further development of the utterly distorted European conditions.

Our programme for the reconstruction of the world organisation, preferably to be called the building of a new world organisation, is given in our answer to the peace Note of the Holy Father.  It, therefore, only remains for me to-day to complete the programme and, above all, to state what were the considerations that decided us to accept the principles that overthrow the former system.  It will come as a surprise to many, and perhaps appear incomprehensible, that the Central Powers, and especially Austria-Hungary, should be willing to desist from future military armament, as it is only their military power that has protected them through these trying years against vastly superior forces.

Not only has the war created new factors and conditions, but it has also led to new conceptions which have shattered the foundations of former European policy.  Among many other political theses, the one which held that Austria-Hungary was an expiring state has vanished.  The dogma of the impending collapse of the Monarchy was what made our position in Europe more difficult and caused all the misunderstanding concerning our vital needs.  But having shown ourselves in this war to be thoroughly sound and, at any rate, of equal standing, it follows that we can reckon now on a proper understanding of our vital needs in Europe and that no hopes are left of being able to beat us down by force of arms.  Until the moment had arrived when this could be proved, we could not do without the protection of armaments nor expose ourselves to unfavourable treatment in