particular circumstance of the present time? The answer is clear. The great monopolistic powers should im• mediately summon a conference at which the unsatisfied powers, great and small, should be invited to state their grievance and claims. When this has been done it would be possible, given intelligence and good will, to work out a scheme of territorial, economic and monetary readjustments for the benefit of all. That certain immediate sacrifices would ha~e to be made by the monopolistic powers is inevitable. These sacrifices would be in part sacrifices of economic advantages, in part, perhaps mainly, of prestige--which is the polite and diplomatic word for pride and vanity. It is un• necessary to go into details here. Suffice it to say that there would have to be agreement as to the supply of tropical raw materials; an agreement on monetary policy; an agreement with regard to industrial production and markets; an agreement on tariffs; an agreement on migration. The calling of such a conference as has been described above constitutes the only practical solution of the difficult problem of sanctions against Italy. People of good will are painfully perplexed because it seems to them that sanctionist countries are on the horns of a dilemma. Either sanctions must be intensified, in which case it is probable that Italy will, in desperation, precipitate a European war; or else Abyssinia must be sacrificed, in which case a wanton act of aggression will have been rewarded at the expense of the victim. In fact, there is a third and better alternative, a more excellent way between the home of the dilemma. A world conference can be called immediately for the permanent settling of the justifiable claims, not only of Italy, but of all the other dissatisfied powers. The immediate application of pacifist principles offers the hope of the solution of problems which, if they are left to complicate themselves, may become almost insoluble. To reach any kind of international agreement is difficult, for the simple reason that nations are regarded by their representatives as wholly immoral beings, insanely proud, touchy, fierce and rapacious. In spite, however, of this monstrous conception of sovereignty, 27 Bib 1oteca Gino Bianco
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