Though the Algeciras Conference is still at work, there seems
good reason to believe that a compromise has been arrived at, and that an agreement satisfactory to both France and Germany will be reached both as regards the police and the bank. We have dealt with the general aspects of the question elsewhere, and will only say here that, as far as the compromise arrived at in the Conference goes, there is no reason to suggest that either France or Germany has suffered defeat or humiliation. It seems to be generally admitted that this happy result is due in no small measure to the tact and good feeling shown by the American representative, Mr. Harry White. President Roosevelt has again shown that he shares with our King the right to the title of pacificator. It is gratifying to think that it is the two representatives of the Anglo-Saxon race who have earned this signal honour.
