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278 and volume. Of course, any one will have to agree, however, that a claim held by the Kaiser is another matter. For, obviously, there exists no living human, not to mention Venezuelan being, capable of doubting the Kaiser's decision upon any subject, much less a claim. Since Venezuela had the audacity to delay and dispute payment a great opportunity had arrived. Out went the demand, and hard upon it came the invincible Armada.

John Hay, Secretary of State, taking note of this affair, pointed out that the United States had an ancient rule, by which they set great store, to the effect that no excuse would do for invading American soil. The Kaiser politely replied that if he found it necessary to take Venezuelan territory it would only be for "temporary" occupation.

In an appendix to Mr. William Roscoe Thayer's Life of John Hay, Mr. Roosevelt describes what happened then as follows:

"I also became convinced that Germany intended to seize some Venezuelan harbour and