C0NCLUSI0NS

The following conclusions are respectfully submitted:

1. No government save a socialist government can be set up in Russia to-day except by foreign bayonets, and any governments so set up will fall the moment such support is withdrawn. The Lenin wing of the communist party is to-day as moderate as any socialist government which can control Russia.

2. No real peace can be established in Europe or the world until peace is made with the revolution. This proposal of the Soviet Government presents an opportunity to make peace with the revolution on a just and reasonable basis--perhaps a unique opportunity.