been going on for fifty years in a perfectly straight line, and
with a vigor which is increasing very fast and shows no sign of
change, the same general line of progress will probably keep up
for another fifty years. If we try to realize what this means, we
shall probably fail completely and become dazed by the prospect.
We cannot possibly picture accurately or even clearly to ourselves
any definite conditions of fifty years hence; but we certainly are
warranted in concluding that by the end of fifty years, practically
all of the countries of the world, including Africa, will be open
to trade from one end to the other; that the volume of trade will
be at least ten times as great as it is now; that the means of
communication over the water and through the air will be very much
better than now; and that there will be scores of appliances, methods,
and processes in general use of which we have, as yet, no inkling,
and cannot even imagine.

Now let us call to mind the accepted proverb that "Competition is
the life of trade," and this will make us see that, accompanying
this stupendous trade, extending over, and into, every corner of
the world, there will be stupendous competition, involving in a
vast and complicated net, every red-blooded nation of the earth.

We seem safe in concluding, therefore, that the importance of naval
power will increase.

A great deal is said and written nowadays about the ability of
arbitration to make wars unnecessary, and a good deal also about
the possibility of an agreement among the nations, whereby armaments
may be limited to forces adequate to insure that every nation shall
be compelled to abide by the decision of the others in any disputed