powers, such as the Turks, and negotiations are now being carried on for the establishment of an American university modeled on Robert College at Constantinople. But the chief attention of the Albanian government is turned toward the development of the large resources of the country, especially its mineral resources, including iron, copper, oil, asphalt, coal, together with the splendid water power the country is provided with. However, in order to make possible this development, the first essential is the construction of roads, railroads, tramways, and the government is already out in quest of capital, which the Albanian people want to have come from America. Unfortunately, the fact that Albania has not been recognized by the United States acts as a bar to the employment of American capital in that country."-C. A. Chekrezi, How Albania won independence (N. Y. Times Current History, Dec., 1920, pp. 534-536).

BULGARIA. "It is a well-established fact that Bulgaria concluded an armistice with the Allies on September 30, 1918, because the people and army refused to go on with the war. As early as July of that year the soldiers, who in the absence of any military caste in Bulgaria really form a part of the people, declared in writing and orally to their officers that they would not fight beyond the middle of September. This decision was reached, as the soldiers themselves declared, after the famous Fourteen Points of President Wilson became known to them. 'Why,' they said, 'should we go on fighting, if these points are to be the basis of the future settlement of questions affecting Europe in general and the Balkan Peninsula in particular?' . . . The forced abdication of King Ferdinand was accomplished without any trouble, and the accession of his eldest son, Boris, to the throne was hailed with universal approval. In the general political and social perturbation of Europe, Bulgaria also was threatened with a revolution by the extreme radical elements; but the firmness and courage displayed by the present Premier of Bulgaria, Mr. Stambolisky, the leader of the Farmers' party, in coping with the Bolshevist agitation, saved the country from Bolshevism and assured the reign of law and order. . . . He has refused to be drawn into any wild political schemes, has frankly accepted the situation created by the Treaty of .Neuilly, and, while protesting against its injustice, has promised to carry out loyally its terms."T. Vladimiroff, Bulgaria's novel methods of reconstruction (N. Y. Times Current History, Nov., 1920, PP. 217-218).-Bulgaria, by the treaty of Neuilly, November 27, 1919, lost to Serbia on the western frontier three small pieces of territory, besides the Strumnitza projection on the southwest about fifty miles north of Saloniki. More important still, Bulgaria was not to possess any portion of the Egean littoral which she had naturally coveted with its Greek and Turk population, though she was allowed commercial access to Dedeagatch, a small roadstead where goods may be transferred by lighters."That the Treaty of Neuilly has not settled the Balkan question justly and satisfactorily is indisputable. On the contrary, it has aggravated the mistakes made forty-two years ago by the Berlin Congress, and if these mistakes are not corrected in the near future by the League of Nations or by an international court the Balkan peninsula will enjoy a temporary truce and not a lasting peace. . . . It is too early yet to predict what the relations of Bulgaria to her neighbors will be. She has been despoiled by them of territory that rightly belongs to her; she has

been practically debarred from free and unrestricted access to the Egean sea. A progressive and enterprising people, as the Bulgarians have proved themselves to be during the forty years of their political existence, cannot allow their future commercial and economic development to be hampered by making it dependent upon the mercy or good-will of those who have invariably been their enemies. . . . So long as Serbia and Rumania maintain their possession of Macedonia and Dobrudja [respectively] as a matter of conquest, so long as they treat the large Bulgarian majority in these provinces as aliens whom by violent means and oppressive measures they seek to terrorize and denationalize, no real friendship can exist between them and Bulgaria."-Ibid., pp. 220-221.-"With Bulgaria a treaty was made which imposed upon her an indemnity, and took from her the territories which she had seized from Servia, Rumania, and Greece, during the war, while the disposition of the territory giving her access to the Egean was to be decided by plebiscite of the local population. Bulgaria was left, therefore, the least important of the Balkan states, in the midst of rivals who had grown great by the war."-E. R. Turner, Europe, p. 590.-"The financial burdens laid upon Bulgaria by the Treaty of Neuilly are undoubtedly very heavy. She is required to pay an indemnity of 2,250,000,000 francs in gold or $450,000,000 at the normal rate of exchange. external pre-war debt [and debt] incurred during the war, the current state expenses, and the payment of interest on the debts make it very doubtful whether a small country containing about 35,000 square miles and 4,500,000 people can successfully meet its financial obligations. The low rate of exchange of the Bulgarian currency aggravates the situation. Probably this will not be remedied easily or soon, owing to the fact that Bulgaria is not an industrial country, and that her imports have always been in excess of her exports."-Ibid., pp. 222-223.

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GREECE.-By the treaty of Sèvres, 1920, the great Western powers severed from Turkey the larger part of its European territory west of the famous Chatalja defense lines in favor of Greece, and further gave to the latter the Ægean littoral south of Bulgaria, at least Western Thrace which had been transferred to the Allies by the treaty of Neuilly,-thus extending peninsular Greece continuously to the Black sea; also Italy yielded to Greece the Dodecanese Islands in the Ægean; and in Asia Minor the Greek government received Smyrna and adjacent territory (under Turkish suzerainty) for administration as mandatory of the League of Nations, and for decision by the League at the end of five years of the question of definitive incorporation in the kingdom of Greece. Mr. Venizelos, the Greek representative, engaged that Greek forces would undertake in coöperation with the Allies in Constantinople to drive back and suppress the Kemalists or Turkish Nationalists in Anatolia. This left the question of the disposal of Eastern Thrace undecided and when King Alexandros died October, 1920, and the Greeks recalled Constantine to the throne, the Allies being opposed to the latter, it even jeopardized apparently some of the settlements of the Sèvres treaty, which was already in process of revision. The new Greek administration and both Turkish factions were summoned to send representatives to the London conference to arrange their differences among themselves and suppress hostilities in Asia Minor. The delegates convened in St. James's Palace on February 21, 1921, and sat until March 12.