The Privy Council acts as a Court of Appeal in certain causes, and Colonial Governments borrow money in the London market.

These communities widely seperated in geography and in temperament, have no common fiscal policy, no common foreign policy, no common scheme of defence, no common Council to discuss and decide Imperial affairs.

Now this may be a very wise arrangement, but you must not call it an Empire.
From the point of view of unity, if from no other, it presents an unfavourable contrast to French Imperialism, under which all the oversea colonies are represented in the Chamber of Deputies in Paris.

In the English plan the oversea colonies are unrelated atoms.

You may say that they afford all the materials for a grandiose federation; but if you have flour in one bag, and raisins in another, and candied peel in another, and suet in another you must not call them a Christmas pudding until they have been mixed together and cooked.