See your Emperor! He fears these arrows and spears no more than would an anvil!
My guess is that this means: "an anvil does not fear arrows and spears, because anvil is so strong that beating arrows and spears on an anvil does not hurt the anvil in any way, your emperor also does not fear this arrows and spears, because he is so strong too (in the same way)".
Is that right? Please explain the structure of the sentence a bit.