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 reasonable frame of mind, and, it may be added, more in consonance with her own interests as a great European Power, and with those of her continental ally. There must be many Russians even now who realize with scarcely less consternation than it is already realized in France how disastrously the Asiatic adventures into which Russia has wantonly plunged have weakened her power in Europe. It is surely not unreasonable to hope that, the hour of recueillement having come in St. Petersburg, there may be statesmen there who will recognise that there is and always will be room for an understanding with both England and Japan in regard to Asiatic affairs as conducive to the higher interests of all parties as the understandings which have recently taken place between France and England, and between France and Italy. This is, however, a digression. Great Britain and Japan had to look in the first place to the protection of their own interests, and there could be no doubt as to the direction in which it pointed. The chief weakness of the British position in Asia is due to the fact that, whereas our strength resides mainly in our naval power, we can no longer rely mainly on naval power for the defence of our Asiatic interests; and, on the other hand, the experience of the present war shows that, even against Russia alone, the naval power of Japan had to be strained to the uttermost, and would scarcely have proved adequate against a coalition of Powers. In combination, however. Great Britain and Japan will each contribute what the other lacks, to the common benefit of both.

To conclude. It is doubtful whether our position in India itself could be permanently safeguarded by trusting merely to some given line of strategic frontiers, and sacrificing the great interests which generations of Englishmen have built up beyond them in both nearer and further Asia. Prestige is a word which may be easily