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THE IMPORTANCE OF CHINA. possibly of any three, other Powers. Not only for this reason is the present time favourable for declaring a protectorate over Egypt. Russia for the moment has all she can digest in the Far East. She showed no sympathy with France over the Fashoda incident, and she will, for the next year or two, be sufficiently occupied with the Trans-Siberian railway and other operations in the same part of the world. The Czar's rescript was honestly enough intended on the part of its author, but considered in its general relation to Russian policy it is simply an effort to gain time. How, indeed, can any sensible man look upon it in any other light, when Russia has just decided to spend 10,000,000l., outside the ordinary estimates, on the Navy? With Germany our relations are much more amicable than they have been for several years past. With Italy and Austria, especially the former, we have nearly always been on friendly terms. No opposition need be expected from either of these Powers, and in the present internal condition of both countries they would not weigh much in the scale. There remains France, and with France, even if backed by Russia, we are competent to deal. Under all these circumstances I am of opinion that a protectorate must be declared in Egypt. The risk of war is small; the gain to the future peace of the world would be great.

Though Egypt is naturally uppermost in our minds just now, we must not allow our attention to be diverted from the Far East. The China question is of infinitely greater importance to the future of the Empire than any question affecting Egypt and the Soudan. The population of China is commonly estimated at 400 millions, or nearly one-quarter of the 241