Is a General Disarmament Probable?

Late intelligence from Europe announces that an opinion is current that the commercial treaties between Russia, Germany and Austria indicate the approach of "a general disarmament, or the definite suspension of military preparations." The latter idea is not a very reassuring alternative considering the gigantic proportions which these preparations have already reached; and seeing also that the British Admiralty, according to latest advices, has almost adopted the whole defensive navy programme of Lord Charles Beresford, narrated in page 31 of this Appendix hereto.

Russia declines to be a party to consider general disarmament. She proposes to borrow three millions sterling for "railway purposes"—doubtless stratagetic lines as usual.