THE HUMAN NATURE AND MORALS OF THE CASE

Spanish national securities have doubled in value. (At the outbreak of the Hispano-American War Spanish Fours were at 45; they have since touched par.) If Spain has shown in the last decade a social renaissance, not shown perhaps for a hundred and fifty years, it is because a nation still less military than Germany, and still more purely industrial, has compelled Spain once and for all to surrender all dreams