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In the circumstances it might have turned out to be

a very much more inconvenient instrument than it is. In the main we would say that, in view of the circumstances that then existed, it was not only a necessary but a perfectly just agree- ment. We cannot indeed disguise our fundamental sympathy with Italy, even though we see that as things are to-day she will have to accommodate herself to the needs of the world if there is to be a good settlement.

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