For a long time past the Emperor has delighted in the society of agreeable dilettante, poets, and musicians—for he adores music and poetry—the companions of the famous “Round Table.” The scandalous Eulenburg case brought these intimacies to an abrupt close. Evil has been whispered, quite without justification, of his friendship with that attractive but unhappy figure, Prince Philip von Eulenburg. It would be more to the point to note his weakness for rich men, for the founders of vast fortunes. In this respect he has shown, like some other crowned heads, that he has a sense for present-day realities—that he appreciates the services rendered to modern society by wealth. Americans visiting Berlin are assured of a warm welcome at the Imperial Court, provided they bear names to conjure with in the money-market of the United States. It is only fair to add that, in paying these flattering attentions to opulent Yankees, William II. is partly actuated by what has been called his “American policy”—that is to say, his desire for a close understanding with the Great Republic. His admiration for the power conferred by money has been similarly displayed in his method of bestowing honours on his loyal nobility. In creating an exalted aristocracy of princes and dukes, who before his time were very few and far between in Prussia, he has sometimes shown less regard for ancient lineage and services claiming the gratitude of the State than for the territorial possessions of those concerned. Nobles who have remained poor have not been much favoured, even when they inherit the most honoured names in the military history of the kingdom.