- tamia was a blessed word. They all felt it was impossible
for this country to oppose the introduction of a railway through Mesopotamia. The only wonder was that the railway was not constructed forty or fifty years ago." At the same time, he felt, it would be well for Britain to be assured that her participation in the enterprise would not lead to another "Venezuela agreement"; Germany must be given to understand that Britain, by control of the Persian Gulf, held the "trump card" of the deck.
The Prime Minister made it plain, nevertheless, that he favored coöperation with the German concessionaires provided British capital were permitted to participate on a basis of equality with any other power. He believed, also, that an obstructionist policy would be futile. "I have no doubt that whatever course English financiers may take and whatever course the British Government may pursue, sooner or later this great undertaking will be carried out," said Mr. Balfour. "It is undoubtedly in the power of the British Government to hamper and impede and inconvenience any project of the kind; but that the project will ultimately be carried out, with or without our having a share in it, there is no question whatsoever."
"There are three points," continued Mr. Balfour, "which ought not to be lost sight of by the House when trying to make up their minds upon this problem in its incomplete state. They have to consider whether it is or is not desirable that what will undoubtedly be the shortest route to India should be entirely in the hands of French and German capitalists. Another question is whether they do or do not think it desirable that if there is a trade opening in the Persian Gulf, it should be within the territories of the Sheik whom we have under our special protection and with whom we have special treaties [i.e., the Sheik of Koweit], or whether it should be in some other port of the Persian Gulf where we have no such prefer-
