England was ready to carry on the war for another ten years and, in any case, would crush Germany.

Not the German people, for whom no hatred was felt--always the same repetition of that deceptive argument--but German militarism.

England was in a condition of constraint.

Repeatedly it had been said that if Germany were not defeated in this war she would continue with still more extensive armaments.

That was the firm belief in London; she would then, in a few years, have not 100, but 1,000, U-boats, and then England would be lost.