building, equipping, arming, manning, and succoring a navy for the South, which operated none the less effectively because its action was officially repudiated. And in this secret warfare England prevailed, since when the legislation of the United States has made American competition with England on the sea impossible. Wherefore we have had peace with England. We have supplied Great Britain with food and raw materials, abandoning to England the carrying trade and an undisputed naval supremacy. Consequently Great Britain feels secure and responds to the full force of that economic attraction which makes America naturally, a component part of the British economic system. But let American pretensions once again revive to the point of causing her to attempt seriously to develop her sea power as of yore, and the same friction would also revive which could hardly, were it pushed to its legitimate end, eventuate otherwise than in the ultimate form of all economic competition. If such a supposition seems now to be fanciful, it is only necessary to reflect a moment on the rapidity with which national relations vary under competition, to be assured that it is real. As Washington said, the only force which binds one nation to another is interest. The rise of Germany, which first created jealousy in England, began with the attack on Denmark in 1864. Then Russia was the power which the British most feared and with whom they were on the worst of terms. About that period nothing would have seemed more improbable than that these relations would be reversed, and that Russia and England would jointly, within a generation, wage fierce war on Germany. We are very close to England now, but we may be certain that, were we to press, as Germany pressed, on British maritime and industrial supremacy, we should be hated too. It is vain to disguise the fact that British fortunes in the past have hinged on American competition, and that the wisest and most sagacious Englishmen have been those who have been most alive to the fact. Richard Cobden, for example, was one of the most liberal as he was one of the most eminent of British economists and statesmen of the middle of the nineteenth century. He was a democrat by birth and education, and a Quaker by religion. In 1835, just before he entered public life, Cobden visited the United States and thus recorded his impressions on his return: