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mous in their verdict that any delay in the arrangement of peace and the resumption of trade, ashore and afloat, could mean only revolution. Whole streets of shops had been sacked and looted already by hungry mobs, who gave no thought to the invasion or to any other matter than the question of food supply. A great, lowering crowd of hungry men and women occupied Westminster Bridge and the southern embankment (no German soldiers had been seen south of the Thames) waiting for the news of the promised conclusion of peace terms. There is not wanting evidence that certain members of the Government had already bitterly repented of their suicidal retrenchment and anti-defensive attitude in the past. But repentance had come too late. The Government stood between a hungry, terrified populace demanding peace and food, and a mighty and victorious army whose commander, acting upon the orders of his Government, offered peace at a terrible price, or the absolute destruction of London. For General von Fuechter's brief memorandum of terms alluded threateningly to the fact that his heavy artillery was so placed that he could blow the House of Commons into the river in an hour. At six o'clock the German terms were accepted, a provisional declaration of peace was signed, and public proclamations to that effect, embodying reference to the deadly perils which would be incurred by those taking part in any kind of street disorder, were issued to the public. As to the nature of the German terms, it must be admitted that they were as pitiless as the German tactics throughout the invasion, and as surely designed to accomplish their end and object. Berlin had not forgotten the wonderful recuperative powers which enabled France to rise so swiftly from out of the ashes of 1870. Britain was to be far more effectually crippled. The money indemnity demanded by General von Fuechter was the largest ever known: one thousand million pounds sterling. But it must be remembered that the enemy already held the Bank of England. One hundred millions, or securities representing that amount, were to be handed over within twenty-four hours. The remaining nine hundred millions were to be paid in nine annual instalments of one hundred millions each, the first of which must be paid within three months. Until the last payment was made, German troops were to occupy Glasgow, Cardiff, Portsmouth, Devonport, Chatham, Yarmouth, Harwich, Hull, and Newcastle. The Trans
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