And now let us watch this policy in action in recent events. In 1897 Germany demanded reparation from China for the recent murder of two German missionaries. Troops were landed at Kiao-chau Bay, a large pecuniary indemnity of about L35,000 was refused, and Kiao-chau itself with the adjacent territory was ceded to Germany. That was a significant demonstration of the Emperor's determination to make his country a world-power, so that, as was stated afterwards, nothing should occur in the whole world in which Germany would not have her say. Meanwhile, in Europe itself event after event occurred to prove the persistent character of German aggressiveness. On March 31, 1905, the German Emperor landed at Tangier, in order to aid the Sultan of Morocco in his demand for a Conference of the Powers to check the military dispositions of France. M. Delcasse, France's Foreign Minister, demurred to this proposal, asserting that a Conference was wholly unnecessary. Thereupon Prince Buelow used menacing language, and Delcasse resigned in June 1905. The Conference of Algeciras was held in January 1906, in which Austria proved herself "a brilliant second" to Germany. Two years afterwards, in 1908, came still further proofs of Germany's ambition. Austria annexed Bosnia and Herzegovina. Russia immediately protested; so did most of the other Great Powers. But Germany at once took up the Austrian cause, and stood "in shining armour" side by side with her ally. Inasmuch as Russia was, in 1908, only just recovering from the effects of her disastrous war with Japan, and was therefore in no condition to take the offensive, the Triple Alliance gained a distinct victory. Three years later occurred another striking event. In July 1911 the world was startled by the news that the German gunboat _Panther_, joined shortly afterwards by the cruiser _Berlin_, had been sent to Agadir. Clearly Berlin intended to reopen the whole Moroccan question, and the tension between the Powers was for some time acute. Nor did Mr. Lloyd George make it much better by a fiery speech at the Mansion House on July 21, which considerably fluttered the Continental dovecots. The immediate problem, however, was solved by the cession of about one hundred thousand square miles of territory in the Congo basin by France to Germany in compensation for German acquiescence in the French protectorate over Morocco. I need not, perhaps, refer to other more recent events. One point, however, must not be omitted. The issue of the Balkan wars in 1912 caused a distinct disappointment to both Germany and Austria. Turkey's defeat lessened the importance of the Ottoman Empire as an ally. Austria had to curb her desires in the direction of Salonica. And the enemies who had prevented the realisation of wide Teutonic schemes were Servia and her protector, Russia. From this time onwards Austria waited for an opportunity to avenge herself on Servia, while Germany, in close union with her ally, began to study the