It was the Kaiser's chance--he had been trying it already at other points--to slide into a foothold over here under the camouflage of collecting from Venezuela her just debt to him.

So with warships he and his allies established what he called a pacific blockade on Venezuelan ports.
I must skip the comedy that now went on in Washington (you will find it on pages 287-288 of Mr.Thayer's John Hay, Volume II) and come at once to Mr.Roosevelt's final word to the Kaiser, that if there was not an offer to arbitrate within forty-eight hours, Admiral Dewey would sail for Venezuela.

In thirty-six hours arbitration was agreed to.

England withdrew from her share in the secret pact.

Had she wanted war with us, her fleet and the Kaiser's could have outmatched our own.