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 The dispatch of the "Panther" gave the three Belgian observers a great surprise, and they were much puzzled to account for it. Baron Guillaume's thoughts at once turned to England. He writes 2 July:

During the month of July, while waiting for a statement from the British Foreign Office, the Belgian observers canvassed the possibility that Germany's action was a hint that she would like some territorial compensation for having been bilked out of her share in the Moroccan market. But the interesting fact, and for the purpose of this book the important fact, is that none of these diplomats shows the slightest suspicion that Germany was bent on war or that she had any thought of going to war. Baron Guillaume says, 28 July, "undoubtedly the present situation wears a serious aspect. &hellip; Nobody, however, wants war, and they will try to avoid it." He proceeds:

The French Government knows that a war would be the death-knell of the Republic. &hellip; I have very great

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