4 DECEMBER 1909, Page 18

On Tuesday the German Reichstag was reopened, and khe Emperor

delivered his Speech from the Throne. The omission from the Speech of all reference to the German Navy is particularly curious. There was probably a precise reason for it, as the German Press has been silent on the subject for some time. It may be that the Emperor had the laudable desire to leave out from his Speech all occasions of inter- national offence ; but however that may be, we need hardly; say that work has not stopped in the GerMan *yards's, but is being hurried on as much as ever. It cannot have been easy to omit allmention of the N because the omission

Navy, .

involved a very cursory treatment of the financial situation. The huge Navy Vote is, of course, largely responsible for the financial embarrassment of Germany.