Karpova: Dr. Emanuel Lasker criticizes Black's passive play. 12...Nxd4 is inaccurate, according to Lasker Black wanted to preserve the ♗e6, but the trade develops the White ♕ and indirectly the ♖s.
Lasker compliments White's good timing of the attack with 14.b4, as waiting would only help Black. But he notes that <14...Qxb4 15.Bxf6 gxf6 16.Qxb4 Bxb4 17.Nxd5 Bxd5 18.Bxd5 Rad8> would not be enough for White to force the win. Black's actual continuation is more risky, leaving control of the centre to White.
Not annotated, but 18...d4 seems to be a msitake. Black could have possibly even equalized with 18...Ng4. But White misses the chance 19.Bxf6.
Instead of 20...Qxa4, Lasker suggests <20...Ne3 21.Nxe3 dxe3 22.Qd1> as the lesser evil.
Black ends the game with a blunder, in a better but still winning for White continuation is given by Lasker: <25...Bxf5 26.Rxf5 Qxd1+ 27.Kg2 Kh7 28.Rh5 Qc1 29.Bg5 Qxg5 30.Qxg5 gxh5 31.Be4+ f5>.
Source: 'Pester Lloyd', 1913.08.03, p. 9