THE new states which in Central Europe have taken the place of the Hapsburg monarchy owe their creation to the living will of the peoples who for centuries had been oppressed in Austro-Hungary, and who had in vain endeavored to secure within that state the necessary conditions for a free and full development of their economic and cultural life. The revolutionary activities of these peoples--whether of a military or diplomatic character, whether undertaken abroad, side by side with the Allies, or at home--were the clear expression of this will, which could only be acted upon successfully because the European War created the pre-conditions for a new adjustment of Europe and because the substitution of new independent states for the Austro-Hungarian monarchy was not only an act of historic justice but at the same time in the interests of Europe generally. The Danubian monarchy was the aider, abettor and tool of Hohenzollern imperialism. It was, moreover, by its very constitution, the outward expression of a German-Magyar system of violence and the living negation of those ideals which brought half Europe and America into the conflict. Its removal became a manifest necessity as an insurance against future dangers and in order to secure the triumph of the principles for which the war was fought.
The changes which have thus been made in Central Europe are, of course, greater than any which have taken place in other parts of the continent. An entire great state has been obliterated from the map of Europe, an ancient and mighty dynasty deprived of its power and dominion; frontiers of new states have been delimited, and with their creation there have been severed political ties and, above all, economic ties of no mean importance.
It is not surprising that there are people who regard with scepticism the capacity of the new states for independent existence and who have doubts regarding their future destiny. The question arises whether Europe has gained by this new adjustment of conditions at her
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