What territorial concessions was the Monarchy prepared to make?
This did not proceed from the Italian Government, but was a step taken by a private individual which was communicated to me through a friendly Government.
It is extremely difficult to judge of the true value of such a step.

A Government can make use of a private individual to take the first step--it will probably do so when intercourse is desired; but it may also be that a private person, without instructions from, or the knowledge of, his Government, might do the same.

Instances of the latter occurred frequently during my term of office.
I always held the standpoint that any such tentative steps for peace, even when a ministerial source could not be proved _a priori_, should be treated with prudence, but in a friendly spirit.

In the above-mentioned case, however, the fact was that Italy neither could separate from her Allies, nor did she wish to do so.

Had that been her purpose, it would have involved her in a conflict with England, whose aim in war was the conquest of Germany and not any Italian aspirations.