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the mode of carrying them out; but I do not hesitate to say that, so far as concerns the general course of things, we are borne onward by one and the same tide, and that, being equally confined within the limits of its current, we can never stray out of the general channel followed by it. With regard to the Budget, let me mention that we have the responsibility of maintaining the Constitution, the laws, and the Imperial ordinances. The Budget having now been introduced by the Government, I rely upon your thorough and candid consideration and advice. A great portion of the Budget is taken up with expenses connected with the army and navy. I wish here to draw your attention to the opinions held by the Government on this subject. The administrative and judicial institutions have now to be completed and put in an active condition, while the resources of the country have to be nourished by encouraging and promoting agricultural, industrial, and commercial undertakings. While thus internal administration cannot be neglected even for a day, it is our common object to maintain the independence and to extend the prestige of the country. The attainment of this object should not only never be lost sight of by the Government, but also all the subjects of the empire should, whatever changes may hereafter take place in the political world, work in harmony, and, uniting their different paths of progress, should advance along one and the same route, to the end that they may not fail to attain eventually their common object. The independence and self-preservation of a country depend, first, upon the defence of its ‘cordons of sovereignty,’ and, secondly, upon the defence of its ‘cordons of interest.’ I mean by ‘cordons of sovereignty’ the territories of the country, and by ‘cordons of interest’ the sphere which has the closest connection with the safety of the ‘cordons of sovereignty.’ There is not a country which does not defend its ‘cordons of sovereignty,’ neither is there a country which does not maintain its ‘cordons of interest.’ In order to maintain the independence of the country at the present time among the Powers of the world, it is not sufficient to defend the ‘cordons of sovereignty’ alone; it is also necessary to defend the ‘cordons of interest.’ Now, if we wish, as we do, to maintain the integrity of the independence of the country by defending, not only the ‘cordons of sovereignty,’ but also the ‘cordons of interest,’ we undertake a task which can be accomplished, not by speculative arguments, but only by constant and persevering efforts within the limits allowed by the resources of the land. Such being the case, it is unavoidable that large sums of money should be required for the army and the navy. I have not the least doubt that, with reference to the important points thus far stated, you will upon the whole co-operate and agree with the