The great people of the Continent "received addresses," as usual,
on New Year's Day, and except the Emperor of Germany, they all spoke hopefully of peace. The Emperor of Austria telegraphed to his brother Kaiser that he thought peace would be maintained. The King of Italy told the Deputies who waited on him, that for this year, in his opinion, peace was assured. M. Tisza, the Premier of Hungary, was less definite, but he also told a deputation from the Liberal Party that "as no State in Europe now absolutely desires war," he hoped peace would be maintained during 1889. President Carnot, again, declared that the Paris Exhibition would be a pledge that the year would be one of prosperity and peace. All that is exceedingly nice, and stocks have risen, but it does not come to very much. All the Governments desire peace, and naturally think they can secure it; but do all the peoples and parties also desire it ; and if so, why are they spending their substance in ever-new precau- tions ? Remember, that the days are past when Sovereigns liked spending in order to have many soldiers. They already control the whole effective population, and are now ex- ceedingly anxious about their Treasuries.
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