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110 up its own title-deeds. From that of a first-rate maritime, it descends at once to the position of a fourth-rate military Power, with the capacity of putting in the field an army of about the size of that of Servia, and with all the obligations of Empire still incumbent upon it. It is a fact, which the English War Office will scarcely venture to contradict, that, at the crisis of the Franco-German War, when it was a matter of importance to ascertain the exact amount of our available military force, the English Government ascertained that there were no means of putting 20,000 men into the field.

Next, let us look at the principle on which this theory rests. War, being the "ultima ratio" of nations, must be prosecuted until one or the other of the combatants gives in; this means, the principle of war on commerce being surrendered, until a sufficient number of men are killed, maimed, and wounded, so as to render resistance on one side or the other hopeless.