f our
submarines in three months, contradict beyond any power of dispute the
euphemistic presentation of the British Admiralty. Even so, however,
the English list still shows that since the beginning of the submarine
warfare, although in that period there was little to speak of in the
way of activities of the German cruisers abroad, the damage done to
the English fleet has risen according to the confession of the
Admiralty itself. Since Feb. 18, that is to say, since scarcely more
than a quarter of a year, according to the English figures, no less
than 56 British merchant ships with a tonnage of 187,000 tons (that is
to say, more than 40 per cent. of the total number of merchant ships
designated as lost) have been sunk. But if instead of these English
figures the German compilation, which is indubitably correct, be
accepted, then the entire picture changes considerably in our favor.

In Memoriam:

REGINALD WARNEFORD

[From Truth of London]

Young gallant soul, unversed in fear,
Who swiftly flew aloft to fame,
And made yourself a world-wide name,
Ere scarce had dawned your brief career.

To glory some but slowly climb
By painful inches of ascent,
And some, hereon though sternly bent,
Ne'er reach it all their life's long time.

But you--you soared as eagles soar;
At one strong flight you flashed on high;
The sudden chance came sudden nigh;
You seized it; off its spoils you bore.

And now, while still the welkin rings
With your unmatched heroic deed,
To paean elegies succeed,
The mournful Muse your requiem sings.

A requiem, yet with triumph rife!
How not, while men their souls would give
To die your death, so they might live
Your "crowded hour of glorious life"?

Great hour, that knows not time nor tide,
Wild hour, that drinks an age's sweets,
Brave hour, that throbs with breathless feats,
Short hour, whose splendours long abide.

American Preparedness

By Theodore Roosevelt

_In an address at the Panama-Pacific Exposition in San Francisco,
delivered on July 21, Colonel Theodore Roosevelt said:_

I have a very strong feeling about the Panama Exposition. It was my
good fortune to take the action in 1903, failure to take which, in
exactly the shape I took it, would have meant that no Panama Canal
would have been built for half a century, and, therefore, that there
w