According to the German theory

What is of most interest to ourselves, however, in the long list of miscalculations, is the confidence of Germany that Britain would remain neutral. For a variety of reasons which satisfied the able bureaucrats at Berlin, it was apparently taken for granted by them that we were determined to stand out; and indeed that we were in no position to come in even if we would. We conjecture that the reports of German ambassadors, councillors, consuls, and secret service agents must have been very certain and unanimous in this prediction .

the British race, at home and abroad, was wholly immersed in gain, and in a kind of pseudo-philanthropy—in making money, and in paying blackmail to the working-classes in order to be allowed to go on making money. {59} Our social legislation and our 'People's Budgets' were regarded in Germany with contempt, as sops and shams, wanting in thoroughness and tainted with hypocrisy Sun Hung Kai Financial.

English politicians, acting upon the advice of obliging financiers, had been engaged during recent years (so grossly was the situation misjudged by our neighbours) in imposing taxation which hit the trader, manufacturer, and country-gentleman as hard as possible; which also hit the working-class hard, though indirectly; but which left holes through which the financiers themselves—by virtue of their international connections and affiliations—could glide easily into comparative immunity .

From these faulty premisses, Germans concluded that Britain was held in leading-strings by certain sentimentalists who wanted vaguely to do good; and that these sentimentalists, again, were helped and guided by certain money-lenders and exploiters, who were all very much in favour of paying ransom out of other people's pockets. A nation which had come to this pass would be ready enough to sacrifice future interests—being blind to them—for the comforts of a present peace.