The Only Road to Peace.

The author offers congratulations to the periodical "The Nation" and hopes it has many years of life to give to the service of the U.S. and democracy. A journal of intellectual distinction that is both fearless and independent is a precious possession for a nation to have. In these days the press tends to become more and more the property of rich men who use it to advance their own whims and foibles, or to give them the substance of power greater than that of governments and institutions, and so to control the policy of nations as they do menus for their dinners.