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, then, it seems, that our interests, even down to the root of domestic finance, are becoming more and more exposed to the play of European influences. It appears, too, that, in Europe itself, the virulence of the war fever tends to be more manageable than formerly, to the extent that it is assuming an intermittent rather than a chronic form. These two propositions in combination indicate that, in the future, we shall find it expedient, and not wildly hazardous, to take a more active part than formerly in the continental blind-man's buff. But what part? Look again across the Narrow Seas.

The guiding idea of Bismarck, from 1870 up to his fall in 1890, may be described as one of insurance against war. His first expedient was to organise a league, or understanding, between the three emperors of Germany, Austria, and Russia. "I have thrown a bridge across to Vienna," he said, "without breaking down that older one to St. Petersburg." But presently, owing to her diverging views on the Eastern question, Russia parted company; so that the Chancellor was left