It is for America a choice between a policy of extravagant armament and aggressive diplomacy, with a doubtful issue, on the one side, and such abatement of national pretensions as would obviate bootless contention, on the other side.
Yet, it must be admitted, the patriotic temper of the American people is of such a susceptible kind as to leave the issue in doubt.

Not that the Americans will not endeavor to initiate some form of compact for the keeping of the peace, when hostilities are concluded; barring unforeseen contingencies, it is virtually a foregone conclusion that the attempt will be made, and that the Americans will take an active part in its promotion.

But the doubt is as to their taking such a course as will lead to a compact of the kind needed to safeguard the peace of the country.

The business interests have much to say in the counsels of the Americans, and these business interests look to short-term gains--American business interests particularly--to be derived from the country's necessities.

It is likely to appear that the business interests, through representatives in Congress and elsewhere, will disapprove of any peace compact that does not involve an increase of the national armament and a prospective demand for munitions and an increased expenditure of the national funds.
With or without the adherence of America, the pacific nations of Europe will doubtless endeavour to form a league or alliance designed to keep the peace.