The Morocco incident, as it is often too lightly called, should rather be regarded as a phase in the world's economic history and an occurrence of moment for the future peace of all nations than the mere game on the diplomatic chess-board many writers appear to consider it. According to French critics, and they may be taken as representative of the feeling everywhere prevalent during the seven years the incident lasted, its origin was a matter of alliances and the balance of power. Germany, according to these writers, wanted to preserve the position of hegemony in Europe she had obtained under Bismarck, and consequently felt annoyed by the Triple Entente, which robbed her of her traditional friend Russia and set up an effective counterpoise to the Triple Alliance of which Germany was the leading Power, and on which she could, or believed she could, rely for support in case of war with France. In going, therefore, to Tangier, at the moment when her defeat by Japan rendered Russia for the time being of little or no account in the considerations of diplomacy, the Emperor, according to these writers, in reality was making a determined attempt to break the Entente combination and protect his Empire from political isolation or inferiority. It is quite possible that such were the motives of the Emperor's action, but if so he was building better than he knew. The vicissitudes of the Moroccan episode are described briefly below, yet some remarks of a general nature as to the whole episode considered in its historical perspective may be permitted in advance. But first, what is historical perspective? It may perhaps be defined as that view of history which shows in its true proportions the relative importance of an event to other events which strongly and permanently leave their mark on the character and development of the period or generation in which they occur. Regarded from this standpoint the Morocco incident can claim an exceptional position, for it was the first occasion in modern diplomatic history on which a Great Power officially proclaimed _urbi et orbi_ the doctrine of the "open door," the doctrine of equal economic treatment for all nations for the benefit of all nations, and was willing to go to war in support of it.