Up to that point Germany had played a waiting game so
patiently that France fell into the trap, and gave her all she wanted.
It is inconceivable how the astute politicians of the Quai d'Orsay
committed such a blunder, save on the assumption that they were so
carried away by the ease with which they had settled with Great
Britain, that they forgot all other precautions--unless it was that
they feared to jeopardize the conclusion of the main bargain by delay
in discussing any subsidiary point.

When the Agreement was made known, the writer pointed out in the
_Westminster Review_, that, "Portugal, Italy and Austria have but to
acquiesce and rest assured of the 'most favoured nation' treatment, as
will all the other Powers save one. That one, of course, is Germany,
_whose sole interest in Morocco is the possibility of placing a
drag on France_. She will have to be dealt with. Having disposed of
England, which had real interests at stake, in the command of the
straits and the maintenance of Gibraltar, France should be able to
accomplish this as well. Five and twenty years ago Germany had not
even a commercial interest in Morocco. Great Britain did three-fourths
of the trade, or more, France about a tenth, Spain and others dividing
the crumbs between them. But an active commercial policy--by the
encouragement and support of young firms in a way that made Britishers
envious, and abusive of their own Foreign Office--has secured for
Germany a growing share of the trade, till now she stands next to
Great Britain, whose share is reduced to one-half."[24]

[24: It is curious, indeed, how little the German Empire or its
component States figure in the history of diplomatic relations
with Morocco. One has to go back to the time of Rudolf II., in
1604, to find an active policy in force with regard to Moroccan
affairs, when that remarkable adventurer or international
diplomatist, Sir Anthony Sherley, was accredited to Abd el Aziz
III., the last of the Moorish rulers to bear the same name as
the present one. This intrepid soldier, a man after the Kaiser's
own heart, had been accredited to Germany by the great Shah of
Persia, Abbas, whose confidence he had won to a marvellous
degree, and he appears to have made as great an impression on
Rudolf, who sent him as his envoy to Morocco. Arrived there,
he astonished the natives by coolly riding into the cour