ABSTRACT
The Americans are opposed to investing any large amounts of capital in Europe. The French are right in their complaint that it is impossible to bring about any reliable agreement with the Germans, but they are not right in their assertion that this is due to some inherent incurable malevolence in the German race. It is simply a consequence of the necessitous condition of the people, with the demoralization following thereon. The present mental state in Germany is determined mainly by this and not through the great political events, as the strength of the individual is almost entirely used up by the tension and the detailed struggle for existence. This probably explains the indescribable foolishness of the policy. The problem of the white race maintaining its position in the Pacific is daily becoming more pressing, and it may be worth mentioning here that an invasion of colored blood threatens white civilization by a route other than that across the Pacific.
