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140 demanding too much of Germany to ask her to recognise that, till the affairs of the world are managed on better principles than those prevailing at the present time, we cannot have the supremacy of the sea, on which the conditions of our national existence depend, wrested from us, nor allow it to slip from our hands.

Such a recognition would do much to bring her people and ours into stable relations, and pave the way to a relaxation of the cruel pressure put upon both countries by a rivalry which, however far it may be carried, will do nothing to alter their relative naval strength.