oncessions
of Germany in North Persia.

It is quite obvious that this policy of marking time, which Russia is
adopting for the moment, can only be transitory. The requirements of the
mighty Empire irresistibly compel an expansion towards the sea, whether
in the Far East, where it hopes to gain ice-free harbours, or in the
direction of the Mediterranean, where the Crescent still glitters on the
dome of St. Sophia. After a successful war, Russia would hardly hesitate
to seize the mouth of the Vistula, at the possession of which she has
long aimed, and thus to strengthen appreciably her position in the
Baltic.

Supremacy in the Balkan Peninsula, free entrance into the Mediterranean,
and a strong position on the Baltic, are the goals to which the European
policy of Russia has naturally long been directed. She feels herself,
also, the leading power of the Slavonic races, and has for many years
been busy in encouraging and extending the spread of this element into
Central Europe.

Pan-Slavism is still hard at work.

It is hard to foresee how soon Russia will come out from her retirement
and again tread the natural paths of her international policy. Her
present political attitude depends considerably on the person of the
present Emperor, who believes in the need of leaning upon a strong
monarchical State, such as Germany is, and also on the character of the
internal development of the mighty Empire. The whole body of the nation
is so tainted with revolutionary and moral infection, and the peasantry
is plunged in such economic disorder, that it is difficult to see from
what elements a vivifying force may spring up capable of restoring a
healthy condition. Even the agrarian policy of the present Government
has not produced any favourable results, and has so far disappointed
expectations. The possibility thus has always existed that, under the
stress of internal affairs, the foreign policy may be reversed and an
attempt made to surmount the difficulties at home by successes abroad.
Time and events will decide whether these successes will be sought in
the Far East or in the West. On the one side Japan, and possibly China,
must be encountered; on the other, Germany, Austria, and, possibly,
Turkey.

Doubtless these conditions must exercise a decisive influence on the
Franco-Russian Alliance. The interests of the two allies are not
identical. While France aims solely at crushing Germany by an aggressive
war, Russia from the fi