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 the very counterpart of the English note—just as dignified, just as independent. This, therefore, already looked serious. But when a second note from us, not only firm but categorical, was responded to in the like firm and categorical way, it was seen at once that war was meant—had doubtless been so from the first, and had now, in fact, become inevitable.

Consternation at once overspread the country, and markets everywhere collapsed. Within a few days the two-and-a-half Consols had fallen from ninetynine to seventy-nine, fifty thousand mercantile houses had suspended payment, a million working-men been thrown out of employment, and countless families reduced from plenty and comfort to deprivation and distress. But no help for it now; the country must face its fortunes; and after the first outburst of astonishment and despair, it did so with a good heart, proceeding to set its house in order, buckling to its new duties, and even taking comfort in the fact that the multitude of the unemployed was favourable to the prompt organization of an adequate defensive force.

The plans and projects of our powerful enemies were consistent with all the promptitude and war resources of those times. Word duly reached us that the combined Franco-German navy was to keep the English fleet engaged until at least half a million of well-disciplined soldiers were landed upon our thus unprotected shores, by help of the countless shipping and other appliances which the two great continental Governments were able to summon to their aid for just the brief interval needed. If victorious upon