I am convinced that his initiative was honest, cunning in general not being part of the Englishman's constitution. It would have been a great success for Mr. Churchill to secure economies for the country and to lighten the burden of armament, which was weighing heavily on the people. I maintain that it would have been difficult to support his intention. How about the workmen employed for this purpose? How about the technical personnel? Our naval program was settled, and it would be difficult to alter it. Nor, on the other hand, did we intend exceeding it. But he pointed out that the means spent on portentous armaments could equally be used for other purposes. I maintain that such expenditure would have benefited home industries. NO TRADE JEALOUSY I also succeeded, in conversation with Sir William Tyrrell, Sir Edward Grey's private secretary, in keeping away that subject without raising suspicion, although it came up in Parliament, and preventing the Government's proposal from being made. But it was Mr. Churchill's and the Government's favorite idea that by supporting his initiative in the matter of large ships we should give proof of our good-will and considerably strengthen and increase the tendency on the part of the Government to get in closer contact with us. But, as I have said, it was possible in spite of our fleet and without naval holidays to come to an understanding. In that spirit I had carried out my mission from the beginning, and had even succeeded in realizing my program when the war broke out and destroyed everything. Trade jealousy, so much talked about among us, rests on faulty judgment of circumstances. It is a fact that Germany's progress as a trading country after the war of 1870 and during the following decades threatened the interests of British trade circles, constituting a form of monopoly with its industry and export houses. But the growing interchange of merchandise with Germany, which was first on the list of all European exporting countries, a fact I always referred to in my public speeches, had allowed the desire to mature to preserve good relations with England's best client and business friend, and had gradually suppressed all other thoughts and motives. The Englishman, as a matter of fact, adapts himself to circumstances and does not tilt against windmills. In commercial circles I found the greatest good-will and desire to further our common economic interests. AMIABLY RECEIVED In other circles I had a most amiable reception, and enjoyed the cordial good-will of the Court, society, and the Government. No one there interested himself in the Russian, Italian, Austrian, or even the French representative, in spite of the imposing personality and political success of the last named. Only the German and American Ambassadors attracted public attention.