Austria-Hungary recently annexed Bosnia and Herzegovina to her territory. It seemed for a time that war with Servia would be the result, but Servia has now consented to the annexation. Austria’s triumph seems to be complete, and has almost changed the balance of power in Europe. On the other hand, however, by coercing Italy, she has virtually broken up the triple alliance. She has also cooled her relations with England and France, has made Servia and Russia bitterly hostile, has antagonized all the Slav peoples of the world, thus making possible trouble in her own parliament. She has put herself under obligations to Germany, has been compelled to pay a large sum of money for the two provinces, at the same time undergoing tremendous expense to maintain the military in those regions and suffering a very serious loss from Turkish boycott of the goods of her merchants. Incidentally also the fact that Russia failed to back Servia in her demands on Austria-Hungary proves “beyond a doubt that Russia is as yet not much more than a negligible quantity in European councils.”