The German Emperor has practically carried his Navy Bill, or,
rather, a compromise which secures his main object, —viz., a great fighting Fleet. The Catholic Centre has refused to give him cruisers for foreign service, but has consented to the construction of "a new double squadron of seventeen battleships with the necessary complement of cruisers," and is willing to provide the money partly through increased Protective duties. As they hold the balance of power further resistance would be useless, and the Emperor will in 1906 be master of a really powerful Fleet expressly intended for war. His success will be observed at the British Admiralty, and will probably end all discus- sion in America about the increase of the Navy. It is Washington that is menaced far more than London, though even we shall feel the expenditure necessitated by such powerful squadrons in the North Sea always ready for action at the bidding, it may be, of men more rash than the present German Emperor.
