For the other countries of Europe, with the possible exception of Germany, the past twelve months do not stand out with any special degree of prominence. In the German Empire the year opened with the domestic toation depressed, owing mainly to the problem presented by financial reform. A great struggle over the question of finance ensued in the ichsteg, where after a wonderful spell of success Prince Billow's: attempt to hold together by merely anti-clerical cement the incon-Eimous Bloc was finally and com-nous elements composing the
pletely wrecked. The Government: to meet its deficit held the view that extended death duties were indispensable, while it was opposed to taxes on current business; the Centre would have none of this and it was supported by the Conservative wing. In the end after eight and a half years of office the Imperial (chancellor once more pressed his resignation upon the Emperor and was succeeded by Herr von Bethmann - Hollweg. The change in Chancellors, however, implied no change in policy; and the Empire secured the £25,000,000 of additional revenue that had proved the undoing of Prince Bilow. At the same time the retiring Chancellor was able to pride himself on the fact that he
Text read from the printed page and cleaned; old type leaves the occasional error.