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fuse self-gratulation was the order of the day. But it is now possible to take a calmer view of the situation and to make a more judicial estimate of the importance of the alliance.

In the first place, it is well to remember that this formal alliance is only the natural outcome of a community of interests in the Far East, and is the natural result of practical coöperation for some time past. As Count Ōkuma put it, they (Great Britain and Japan) have been allies in effect for some years; they are now allies in name. Indeed, for several years past this alliance has existed in spirit, and it has now merely become a public acknowledgment of sympathy and similar aims in policy in the Far East. This alliance, then, is not artificial or compulsory, but natural, spontaneous, and voluntary.

The second point to notice is that the Anglo-Japanese Alliance includes the greatest power each of the Occident and of the Orient. This alliance is also the combination of two of the greatest naval powers, as well as two great military powers of the world. It would seem likely, therefore, as a prominent Japanese expressed it, "that there is no power or combination of powers that could make head against this union in the Far East; the attempt would be like spitting at a tiger." The Anglo-Japanese Alliance is, therefore, a guarantee, of the very first quality, of peace in the Orient, and of just dealings with China and Korea.

Another important point in connection with this