Second, that Ireland, if Great Britain should be completely defeated, might conceivably be "taken" or annexed by the victor and held as a conquered territory, and in this guise would bitterly regret the days of her union with Great Britain.
I have sought to show, in answer to the latter argument, that were annexation by the victor indeed to follow a British defeat Ireland might very conceivably find the changed circumstances greatly to her advantage.
But there is a third contingency I have nowhere seen discussed or hinted at, and yet it is at least as likely as No.

1, and far more probable than No.

2--for I do not think that the annexation of Ireland by a European power is internationally possible, however decisive might be the overthrow of England.

It is admitted (and it is upon this hypothesis that the discussion is proceeding) that Great Britain might be defeated by Germany, and that the British fleet might be broken and an enemy's sword might transfix England.

Such an overthrow would be of enormous import to Europe and to the whole world.