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us no substantial fact that was not known before, but

some of the piivate memoranda now published for the first time are intensely interesting. • The picture of the Liberal Cabinet shrinking from the necessity of war up to the last moment has now higher lights than ever thrown upon it. We find Sir Edward Grey talking about the injury that would be done to credit if the Government took • any aggressive action ; we find the French Ambassador in a state of despair at British hesitation ; and we find Sir Eyre Crowe warning Sir .Edward Grey that a positive declaration by Great Britain of where her sympathies lay would very likely cause Germany to draw back, and pointing out that the very financial manifestations which were giving pause to Sir Edward Grey were engineered by Germany. * * *

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