Let us suppose that in 1904 our German foreign policy was managed astutely enough to enable us to take the part which Japan played. It is not easy to measure the greatness of the results that might have accrued to Germany from such a policy.

There would have been no world war. The blood which would have been shed in 1904 would not have been a tenth of that shed from 1914 to 1918. And what a position Germany would hold in the world to-day?

In any case the alliance with Austria was then an absurdity.