military incapacity leads to disaster. The stupendousness of its impotence and the depths of its disorganisation stand revealed. Withal, its golden reservoirs, kept filled by its rich creditors, are all but inexhaustible. On the other hand, its enemy has no other resources than onerous loans obtained with difficulty, of which victory itself may perchance deprive them. For while English and Americans are one in assisting it to weaken Russia, they do not intend that it shall become powerful and to be feared. It is hard to predict the final victory of one combatant over the other. But if Japan makes the yellow men respected by the white men, it will have greatly served the cause of humanity, and paved the way unawares and doubtless against its own wish for the pacific organisation of the world."
"What do you mean," said M. Goubin, raising his eyes from his plate filled with a savoury fritto.
"It is feared," continued Nicole Langelier, "that Japan grown to manhood will educate China, teach it to defend itself and to exploit its wealth itself, and that Japan will create a strong China. No need to look upon such a contingency with alarm; it should, on the contrary, be hoped for in the universal interest. Strong nations co-operate to the harmony and wealth of the world. Weak nations, like China and Turkey, are a perpetual cause of disturbances and perils. But we are ever in too great a haste in our fears
