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Rh coal bunkers in her High Seas Fleet, and the small number of her cruisers, prove besides that her Fleet is not intended for use at any distance from the coast.

I thought it all the less necessary to mention this interview to you because it was published in all the papers, and I did not expect that it would meet with any greater success than the numerous other attempts at a reconciliation that have preceded it.

The real cause of the English hatred of Germany is the jealousy aroused by the astonishing development of Germany's merchant navy and of her commerce and manufactures. This hatred will last until the English have thoroughly learnt to understand that the world's trade is not by rights an exclusively English monopoly. Moreover, it is studiously fostered by the Times and a whole string of other daily papers and periodicals, that do not atop short at calumny in order to pander to the tastes of their readers.

King Edward VII. is said to be a whole-hearted lover of pence ; but a King of England has only a very limited influence in shaping the course of his country's politics. The English Government to some extent shares the popular feeling; at least, it cannot go against the stream, seeing that it is entirely dependent upon the House of Commons, which is gaining ever-increasing control over the executive power.

No doubt one of the chief reasons for the recent agreement between France and England (an agreement of which the explanations given have been, in my opinion, inadequate) was England's desire to have her hands free in the direction of Germany.

But whatever may have been at the back of their minds, English Ministers had always duly observed the proper forms. It was obvious that the new disposition of the English Navy was aimed at Germany. If its centre has now been shifted to the North Sea, it certainly is not because of Russia, whose material stock is to a great extent destroyed, and whose Navy has just given striking proof of incompetence; but there was no need to proclaim the fact. Mr. Lee's speech made all the more painful an impression because he, as Civil Lord of the Admiralty, said that the enemy would hear the guns of the English Fleet before they had even time to learn from the papers that war was declared. He must have in mind, then, some act of aggression on the part of England.