The first condition of success for the League of Nations is, therefore, a firm understanding between the British Empire and the United States of America and France and Italy that there will be no competitive building up of fleets or armies between them.

Four years of world war, at a cost in human suffering which our minds are mercifully too limited to imagine, led to the very clear realization that international anarchy must be abandoned if civilization was to survive.

He would see civilization in danger of perishing under the oppression of a gigantic paradox: he would see multitudes of people starving in the midst of plenty, and nations preparing for war although pledged to peace.

In almost every country there are elements of opinion which would welcome such a conclusion because they wish to return to the politics of the balance of power, unrestricted and unregulated armaments, international anarchy, and preparation for war.

In our modern world of interdependent nations, hardly any state can wage war successfully without raising loans and buying war materials of every kind in the markets of other nations.