But in Germany, through the medium of the schools, the Press and the comic papers, an idea of the Englishman was gradually formed which was bound eventually to lead to the worst kind of self-deception. This absurdity slowly but persistently spread into every quarter of German life. The result was an undervaluation for which we have had to pay a heavy penalty. The delusion was so profound that the Englishman was looked upon as a shrewd business man, but personally a coward even to an incredible degree. Unfortunately our lofty teachers of professorial history did not bring home to the minds of their pupils the truth that it is not possible to build up such a mighty organization as the British Empire by mere swindle and fraud. The few who called attention to that truth were either ignored or silenced. I can vividly recall to mind the