"The efforts of King Charles have been principally devoted towards internal improvement. Railways have increased and improved since the State purchased them in 1886, at an outlay of 237,500,000 francs. Then there were 1,407 kilometres; in 1903 these had increased to 3,177. In the Dobrudja, given to Roumania after the war with Turkey, the King has created a great commercial port at Constantza, whence the grain and petroleum of Roumania can flood the market. From here will radiate a Roumanian merchant marine, which will bear the Roumanian flag to all parts of the world. Agriculture has been carefully cherished, and to-day the country is one of the principal grain-exporting countries of the world, and the lot of the peasant, formerly so low, has been improved. An educational system has sprung into being, owing much to the direct support and inspiration of the Royal family. The finances have been put on a stable footing, and although the nation has already acquired a sufficiency of debt, the future is not at all dangerously beset. Thanks to the discovery of extensive petroleum fields, Roumania has been strengthened and raised from the position of a country relying solely on the rain and sun for its prosperity; while thanks to the King’s indefatigable efforts and unceasing watchfulness, the petroleum industry has been protected from becoming the monopoly either of the ruthless Standard Oil Trust or of the politically guided and government-supported German Bank. Had King Charles done nothing else for Roumania, his determined and wise action in this question would have earned him all praise. But whether it be in the question of the Danube, with its international Commission, or of the transformation of the twelve enormous Crown lands, dispersed over the kingdom, into national and social models, to see and follow—a work due principally to M. Kalindero—the King’s interest in all things which directly or indirectly touch Roumania is unabated.