2 JANUARY 1904, Page 9

tained, were the more necessary because of the great masses

of power in which Europe was now distributed. Germany had felt the necessity immediately after her great victories, and the Triple Alliance produced and justified the Dual Alliance as a counterpoise. Of all Powers, Russia and France had the fewest hostile interests, and made, therefore, the best allies. Now that France had recovered her strength, mis- understandings between her and other nations tended to disappear, as the world saw in the case of Italy, and, indeed, also in that of Great Britain, for though France and England had nowhere in the world any "hostile capital interests," that rapprochement had been rendered possible " by the happy evolution in people's minds on both sides of the Channel." Nevertheless, it was not for France to neglect that increase of military and naval resources upon which she saw other nations bent. Peace, in fact, is M. Delcasse's ideal; but he seeks it, like the rest of the world, through armaments which absorb all the economic gains that ought to arise from peace.