896 Reviews of Books contrary an argument against the economic stability of Germany and a diatribe against the " Machiavellian " and " treacherous " diplo- macy of Berlin — clear, suggestive, and entertaining, but hardly destined to escape the oblivion that overwhelms things printed. By conviction, M. Berard is against imperialism of the Chamberlain and Rhodes type, but with Mr. Hobson and Mr. Reinsch he understands the pitiless pres- sure of economic forces in the expansion of Western Nations and he wastes no time on beatific dreams of la petite France. He studies the relations of France and the Emperor in the light of the conflict of inter- ests in the world market-place. His volume falls into three parts, the first of which is devoted to an examination of French colonial and foreign policy, French economic activities so far as they are related to external politics and finally the ex- igencies of French finance. On the first of the three points, he warns his countrymen that they have an eastern frontier as well as colonies and that they must keep their powder dry. He therefore rejoices in the Anglo-French entente cordiale, which has a foundation deeper than sentiment in reciprocal economic advantages. The German monopolists, he declares, are at cross purposes with the civilized world; their com- merce and industry are in conflict with England and the United States ; and their agriculture clashes with that of Russia and Austria. On finance and diplomacy, M. Berard is more eloquent than convincing; he scorns the financiers and holders of foreign securities who sacrifice the honor and true interests of their country rather than endure a decline in stocks, but he will hardly keep them out of politics by suggesting that patriotism and poverty are more to desired than truckling diplomacy and great riches. He admits that the exigencies of high finance were responsible for the resignation of Delcasse in the recent affair with Germany over Morocco — an affair which, he believes, will mark a turning-point in the national life of France. M. Berard's second book contains an analysis of German foreign and commercial policy as exemplified in South American enterprises — especially in the development of Venezuelan resources. The conclu- sion so far as the German emperor is concerned was foregone : brutality is odious to the French — they hold with the old-fashioned English radical that force is not a remedy. The German emperor, however, is troubled with no such scruples : " alors que I'humanite entiere se met en marche vers une justice plus equitable, vers une paix fondee sur le droit, vers un bonheur democratique, le seul Guillaume H, croit son destin lie a defense des vieilles choses, des crimes hamidiens, de la barbaric marocaine, de I'autocratie tsarienne, du 'peril jaune,' de la misere chinoise, de caporalisme, de la monarchic de droit divin ". Despite this fact, however, the emperor's militarism and bravado will not avail him anything, because the competition of other nations brings ruin to Ger- man industries; the great Brazilian paradise has proved a desert and German trade with it fails to fulfil expectations: the other South .mer-
