There were reasons to believe that, if she failed to become one of the Principal Powers at the outset, another opportunity might never be given her to obtain so high a place in the concert of the nations.

The seats that her delegates had in the Council of Ten had caused criticism and dissatisfaction in certain quarters, and the elimination of a Japanese from the Council of the Heads of States showed that the Japanese position as an equal of the other Great Powers was by no means secure.

These indications of Japan's place in the international oligarchy must have been evident to her plenipotentiaries at Paris, who in all probability reported the situation to Tokio.

From the point of view of policy the execution of the threat of withdrawal presented dangers to Japan's prestige which the diplomats who represented her would never have incurred if they were as cautious and shrewd as they appeared to be.

The President did not hold this opinion.