“It is because I believe that it is in the power of such nations to lead the world back into the paths of peace that I propose to devote myself to explaining what, in my opinion, can and should be done to banish the fear of war that hangs so heavily over the world.”
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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.
It has become impossible to give up the enterprise of disarmament without abandoning the whole great adventure of building up a collective peace system.
The question is, what are we to do in order to consolidate peace on a universal and durable foundation, and what are the essential elements of such a peace?
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.
