regrettable if the honourable opinions by which our Kaiser
was moved in writing this letter should be misconstrued in
England. With satisfaction I note that the attempts at such
misconstruction have been almost unanimously rejected in
England ('Bravo!' on the Right and Left). Above all,
gentlemen, I believe that the admirable way in which the
English Parliament has exemplarily treated the question will
have the best effect in preventing a disturbance of the
friendly relations between Germany and England and in
removing all hostile intention from the discussions over the
matter (agreement, Right and Left).

"Gentlemen, one more observation of a general nature.
Deputies von Hertling and Bassermann have recommended us, in
view of the suspicions spread about us abroad, a calm and
watchful attitude of reserve, and for the treatment of the
country's foreign affairs consistency, union, and firmness.
I believe that the foreign policy we must follow cannot be
characterized better or more rightly (applause)."

A German saying has it that one is wiser coming from, than going to,
the Rathaus, the place of counsel. It is easy to see now that it would
have been better had the Emperor not written the letter, better had
the _Times_ not brought it to public notice, better, also, had the
Emperor or Lord Tweedmouth or Sir Edward Grey--for one of them must
have spoken of it to a third person--not let its existence become
known to anyone save themselves, at least not until the international
situation which prompted it had ceased. As regards the Emperor in
particular, judgment must be based on the answer to the question, Was
the letter a private letter or a public document? The _Times_ regarded
it as the latter, and many politicians took that view, but probably
nine people out of ten now regard it as the former. For such, the
reflection that it was part of a private correspondence between two
friendly statesmen, both well known to be sincere in their views that
a country's navy--that all military preparations--are based on motives
of national defence, not of high-handed aggression, must absolve the
Emperor from any suspicion of political immorality. It was unfortunate
that the letter was written, unfortunate that it was made known
publicly, but, as it is an ill wind that blows nobody good, the
episode may profit monarchs as well as meaner folk as an obj