The news from Germany during the week has been of
a remarkable character. In the first place, the Reichstag has voted the very large Naval Estimates unanimously, and without debate or protest of any kind, though the Socialists have indicated that they may demand explanations at a later stage. A section of the Press declares that the voting of the Naval Estimates without discussion was meant as a warning to foreign countries of German inflexibility. Close on this proof that there will be no serious opposition to the pressing on of Germany's determined effort to obtain the command of the sea come positive rumours that Prince Billow's Parliamentary position has become critical, and that his resignation is a possibility. The threat that he will vacate the post of Chan- cellor is due to the opposition which his proposals for raising some 025,000,000 of extra taxation are encountering. No party or group, of course, denies the necessity of raising that sum. The difficulty rests in the form in which it is to be raised, whether it shall be by direct taxes, including Legacy. duties, as the Government propose, or by indirect methods.