On the other hand, when we think of what would have happened to us, to France or to Belgium if the Germans had won; when we think of the terms which they exacted from Rumania, or of the terms of the Treaty of Brest-Litovsk; when we remember that up to a few months of the end of the War German authorities refused to consider that Belgium could ever be liberated, but said that she should be kept in thrall for military purposes for ever, I do not think that we need break our hearts in deploring the treatment that Germany is receiving now. Germany is not satisfied; but...no concession which has been made has produced any very marked appearance of gratitude. Once it has been conceded it has seemed less valuable than when it was demanded.