ool of our far-seeing and intelligent President. We have desired
delay, and we have had it, and we are now practically masters of
Africa from the Zambezi to the Cape. All the Afrikanders in Cape
Colony have been working for years for this end, for they and we
know the facts.

"1. The actual value of gold in the Transvaal is at least 200,000
millions of pounds, and this fact is as well known to the Emperors
of Germany and Russia as it is to us. You estimate the value of gold
at only 700 millions of pounds, or at least that is what you pretend
to estimate it at. But Germany, Russia, and France do not desire you
to get possession of this vast mass of gold, and so, after
encouraging you to believe that they will not interfere in South
Africa, they will certainly do so, and very easily find a _casus
belli_, and they will assist us, directly and indirectly, to drive
you out of Africa.

"2. We know that you dare not take any precautions in advance to
prevent the onslaught of the Great Powers, as the Opposition, the
great peace party, will raise the question of expense, and this will
win over your lazy, dirty, drunken working classes, who will never
again permit themselves to be taxed to support your Empire, or even
to preserve your existence as a nation.

"3. We know from all the military authorities of the European and
American continents that you exist as an independent Power merely on
sufferance, and that at any moment the great Emperor William can
arrange with France or Russia to wipe you off the face of the earth.
They can at any time starve you into surrender. You must yield in
all things to the United States also, or your supply of corn will be
so reduced by the Americans that your working classes would be
compelled to pay high prices for their food, and rather than do that
they would have civil war, and invite any foreign Power to assist
them by invasion, for there is no patriotism in the working classes
of England, Wales, or Ireland.

"4. We know that your country has been more prosperous than any
other country during the last fifty years (you have had no civil war
like the Americans and French to tone up your nerves and strengthen
your manliness), and consequently your able-bodied men will not
enlist in your so-called voluntary army. Therefore you have to hire
the dregs of your population to do your fighting, and they are
deficient in physique, in moral and mental ability, and in all the
qualities that make goo