I will not emulate, therefore, the fame of Zadkiel. I shall not prophesy because I do not know; but it scarcely needs a prophet to perceive that much in the coming year, if not everything, turns upon the course of events in the Empire of the Czar. It is easy to see how pregnant with possibilities is the situation if one takes into account that big dominating factor, and rules out all the rest as of minor account or of no account at all; and it is equally easy to perceive that we are at the mercy of a chapter of accidents. None will undertake to say what the outcome will be, least of all a Russian himself who knows his people and the subtle influences by which they are or may be moved. I have had the advantage during the past few weeks of coming into contact with several recent arrivals from that unhappy country, and the accounts they give are so confused and so contradictory as to leave one in a more impenetrable fog than if one had never taken any pains to learn the truth at all. On some things, however, they are all agreed. Russian news in the newspapers, so they say, must be taken with a liberal quantum of salt. The Jews, not without reason, hate Russia, or rather the established order in Russia; they control, directly or indirectly, the bulk of the leading journals of all countries, and the news agencies as well; their mission is to set down things in malice, to paint everything in the blackest colours, to ruin Russian credit abroad, and to bring down upon the Russian people the execration of the civilised world. The fires of revolution are alight, it is true, but the conflagration is not so widespread nor so all-consuming as the enemies of Russia would have the world believe, and a free and purified Russia will emerge. What will happen then is the problem; and all my Russian friends are at one in saying that any representative Government that may be established will set before itself two objects of policy—a better understanding with England, based upon a solemn renunciation of any designs against India, and development of the resources of the Empire by the aid of foreign capital.
So far as the former of these objects is concerned, it goes almost without saying that any English Government in power would go more than half-way to meet amicable and sincere advances; and as to the latter—with another _entente cordiale_ once established—the chances are that British capital will flow into Russia as it has flowed in turn into America, North and South, into Africa, into Australasia, into India, and into every quarter of the globe in which capital can be freely and safely employed. It is premature, perhaps, to say that Russian ventures will be the outstanding feature of 1906; but the event is on the cards, and the pioneer enterprises are already on the stocks. The world has not been standing still while the nations have been at war and the heathen have been raging furiously. During the past year or two, no end of little expeditions have been poking their noses into the recesses of the Ural region and the vast areas of the Siberian provinces, sending back reports of riches, mineral and agricultural, beyond the dreams of avarice. It is difficult to believe that resources of this description still exist in their virgin state so near comparatively to the Western capitals; but the evidence, coming as it does from so many capable and unimpeachable sources, is quite irresistible, and the inference appears to be inevitable that the exploitation of Russia is the next big task to which the world of finance and industry will direct its attention. The exploitation of China may wait, or be relegated to our friends and allies, the Japanese.