[E] M. Edmond Théry, journalist, on the staff of _Le Figaro_. Has been entrusted by the French Government with several politico-economic missions; author of several works in this connection. [F] Dr. Charles Richet, a noted physician, who has written plays, and is the author of several works on physiology and sociology. “At the present moment, the Russians are paying the penalty, in the waters of Japan and in the gorges of Manchuria, not only of their grasping and brutal policy in the East, but of the colonial policy of all Europe. They are now expiating, not merely their own crimes, but those of the whole of military and commercial Christianity. When saying this, I do not mean to say that there is a justice in the world. But we witness a strange whirligig of things, and brute force, up to now the sole judge of human actions, indulges occasionally in unexpected pranks. Its sudden starts aside destroy an equilibrium thought to be stable. And its pranks, which are ever the work of some hidden rule, bring about interesting results. The Japanese cross the Yalu and defeat the Russians in good form. Their sailors annihilate artistically a European fleet. Immediately do we discern that a danger threatens us. If it indeed exists, who created it? It was not the Japanese who sought out the Russians. It was not the yellow men who hunted up the whites. We there and then make the discovery of a Yellow Peril. For many long years have Asiatics been familiar with the White Peril. The looting of the Summer Palace, the massacres of Pekin, the drownings of Blagovestchenk, the dismemberment of China, were these not enough to alarm the Chinese? As to the Japanese, could they feel secure under the guns of Port Arthur? We created the White Peril. The White Peril has engendered the Yellow Peril. We have here concatenations giving to the ancient Necessity which rules the world an appearance of divine Justice, and must perforce admire the astonishing behaviour of that blind queen of men and gods, when seeing Japan, formerly so cruel to the Chinese and Koreans, and the unpaid accessory to the crimes of Europeans in China, become the avenger of China, and the hope of the yellow race.