Thus, before the outbreak of the Five-Years War, the majority of Americans already looked upon the Germans, however unconsciously, through the optics of the English Press and English literary publications. A large number of people in the United States honestly believed, moreover, in the rumored German scheme to seize the empire of the world. Our enormous successes in the economic field provoked unbounded admiration and led, on the one hand, to an over-estimation of our power, which did not prove favorable to us politically, while, on the other hand, the Americans who frequently indulged in generalizations about Germany were prone to judge us according to the German-American Beer-Philistine, whom they disdainfully called a "Dutchman." The Americans' view of the German people wavered between these two extremes; but every year opinion tended to incline more and more in the direction of the former. The phantom of a German world-empire, extending from Hamburg to Bagdad, had already taken possession of the American mind long before the war; and in the United States it was feared that the next step would be that this world-empire would infringe the Monroe Doctrine and found colonies in South America. Professor Baumgarten, in an entertaining book, has pointed out to what extent the publications of the Pan-German party contributed towards promoting such conceptions in America. Our Press was a little too fond of making attacks on the Monroe Doctrine in particular. I was always of the opinion that we ought, openly and officially, to have recognized this American article of faith. As regards the Monroe Doctrine, the question is not one of Right, but one of Power. We certainly had not the power to infringe the Monroe Doctrine, even if we had had the intention, which was never the case. It would, therefore, have been more wise to acknowledge it, and thus to improve the political attitude, towards ourselves, of a country on which we were so very much dependent for a number of our raw-material supplies. I have often wondered whether the Imperial Government would not have regarded it as its duty to avoid war at all costs, if our economic dependence upon foreign countries had been more clearly recognized. German prosperity was based to a great extent on the Germans overseas, who had settled down in every corner of the earth, just as in former days the Greeks had settled all over the Roman Empire. The Germans overseas constituted a colonial empire, which was a far more precious source of wealth than many a foreign possession belonging to other Powers. In my opinion not sufficient allowance was made for this state of affairs.