I have now outlined the two possible dispositions of Ireland that up to this British opinion admits as conceivable in die improbable event of a British defeat by Germany. Only these two contingencies are ever admitted. First that Ireland, sharing the common disaster, must endure with her defeated partner all the evils that a great overthrow must inflict upon the United Kingdom. Second, that Ireland, if Great Britain should be completely defeated, might conceivably be "taken" or annexed by the victor and held as a conquered territory, and in this guise would bitterly regret the days of her union with Great Britain. I have sought to show, in answer to the latter argument, that were annexation by the victor indeed to follow a British defeat Ireland might very conceivably find the changed circumstances greatly to her advantage. But there is a third contingency I have nowhere seen discussed or hinted at, and yet it is at least as likely as No. 1, and far more probable than No. 2--for I do not think that the annexation of Ireland by a European power is internationally possible, however decisive might be the overthrow of England. It is admitted (and it is upon this hypothesis that the discussion is proceeding) that Great Britain might be defeated by Germany, and that the British fleet might be broken and an enemy's sword might transfix England. Such an overthrow would be of enormous import to Europe and to the whole world. The trident would have changed hands, for the defeat of England could only be brought about by the destruction of her sea supremacy. Unless help came from without, a blockaded Britain would be more at the mercy of the victor than France was after Sedan and Paris. It would lie with the victor to see that the conditions of peace he imposed were such as, while ensuring to him the objects for which he had fought, would be the least likely conditions to provoke external intervention or a combination of alarmed world interests. Now, putting aside lesser consideration, the chief end Germany would have in a war with England would be to ensure her own free future on the seas. For with that assured and guaranteed by a victory over England, all else that she seeks must in the end be hers. To annex resisting British colonies would be in itself an impossible task--physically a much more impossible task than to annex Ireland.