It is becoming evident, however, from all that Mr. Stead
publishes and his informants say, that a definite scheme underlies all the vague talk. This is to arrest the further development of fleets, and thereby to save the great expendi- ture already sanctioned or proposed in all the great countries for that purpose. This, it is argued, will leave British ascendency at sea untouched. We do not believe, as we have argued elsewhere, that the proposal will be accepted, but if it is it will need a corollary. Alliances of maritime Powers must be forbidden, for otherwise any one naval Power might at once double its sea-strength. Suppose Russia, for example, when at war with Germany about Shantung, makes a treaty with Japan. The certain refusal of America, too, would snake her arbitrese in almost any naval war. The project
seems to us impracticable, but we must give Mr. Stead the credit of having reduced a vaguely philanthropic aspiratiou to a measure which can be discussed, and accepted or rejected,
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