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THE ECONOMICS OF THE CASE

was done, thanks to a fog, efficient espionage, the bursting of the English war balloon, and the success of the German one in dropping shells at the correct tactical moment on to the British ships in the North Sea:

This war, which was decided by a naval battle lasting a single hour, was of only three weeks' duration—hunger forced England into peace. In her conditions Germany showed a wise moderation. In addition to a war indemnity in accordance with the wealth of the two conquered States, she contented herself with the acquisition of the African Colonies, with the exception of the southern States, which had proclaimed their independence, and these possessions were divided with the other two powers of the Triple Alliance. Nevertheless, this war was the end of England. A lost battle had sufficed to manifest to the world at large the feet of clay on which the dreaded Colossus had stood. In a night the British Empire had crumbled altogether; the pillars which English diplomacy had erected after years of labour had failed at the first test.

A glance at any average Pan-Germanist organ will reveal immediately how very nearly the foregoing corresponds

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