German domination over Southern Russia would offer as advantageous, if not a more advantageous, route to the Persian Gulf than through the turbulent Balkans and unreliable Turkey.

If both routes, north and south of the Black Sea, could be controlled, the Pan-Germans would have gained more than they dreamed of obtaining.

I believe, however, that Bulgaria fears the Germans and will be disposed to resist German domination possibly to the extent of making a separate peace with the Allies.

Nevertheless, if the Germans could obtain the route north of the Black Sea, they would with reason consider the war a successful venture because it would give them the opportunity to rebuild the imperial power and to carry out the Prussian ambition of world-mastery.
"The treaty of peace must not leave Germany in possession directly or indirectly of either of these routes to the Orient.

There must be territorial barriers erected to prevent that Empire from ever being able by political or economic penetration to become dominant in those regions.
"With this in view I would state the essentials for a stable peace as follows, though I do so in the most tentative way because conditions may change materially.