The Prime Minister was the principal speaker at a great
meeting held in the Queen's Hall last Saturday to celebrate the annivennary of Belgian independence. After recalling the services rendered by Belgium, the gatekeeper of European liberty, to international right, her answer to the -German ultimatum, the sufferings and fortitude- of her people, and the heroism of her King, Mr. Lloyd George turned to the speech of Dr:Michaelis.- It was, he -declared, a facing. all-ways speech, vrithmany phrases to conciliate both- democratic sentiment and Junkerdom. There were possibilities in it of excel. knot, and we must all help to-make it a good speech, but for the moment it meant that the military party had-won, and the German rulers were still for war. He had read the speech thrice, and saw in- it a sham independence for Belgium, a sham democracy for Germany, and a sham peace for Europe. The German Chancellor had declared. that we could not hold out much- longer against the submarines, but the Prime-Minister was compelled to disillusion him. Gradually- but surely we were giving more protection-to our-shipping and diminishing our losses at sea, and the losees for the first threeweeks. of -July.wcre only half those for the conesponding weeks of April.