The contents of the telegram are as follows: "The Alliance with Austria-Hungary compels us to take action should Austria-Hungary be attacked by Russia.

In that case France would also be involved, and in those circumstances England would not long remain quiescent.

The present prevailing questions of dispute cannot be compared with that danger.

It cannot be the intention of the Alliance that we, the life interest of our ally not being endangered, should enter upon a life-and-death conflict for a caprice of that ally.

Should it become evident that the other side intend to attack, the danger must then be faced." This calm and decided standpoint which alone could maintain peace was also the German policy observed in further developments.