Peace prospects, according to popular theory, are somewhat brightened by the fact that Great Britain's great battle-ship, Dreadnaught, works successfully. It is the greatest engine of war, in size and power, now afloat, and so well pleased is the admiralty that two or three others of the same class are to be built. But the governments of both the United States and Japan are moved to emulation in this direction, and each have expressed an intention to build vessels to rank with, or even to excel, in size and armament the great Dreadnaught. The very name of the big English battle-ship seems to be deemed a kind of challenge to the world which the proud American republic and the ambitious oriental empire feel bound to accept. This new step forward in naval armament, however, is to have another effect—it is already conceded that it puts other war vessels, such as won the victory over Spain, in the background, and sounds the universal demand for new navies. Thus the leading nations are to be kept investing the people's resources in great war implements, while the masses are being regaled with the siren song of universal peace.