Arthur Henderson

The vast upheaval of the World War set in motion forces that will either destroy civilization or raise mankind to undreamed of heights of human welfare and prosperity.

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 short, it may be said that on paper the obligations to settle international disputes peacefully are now so comprehensive and far-reaching that it is almost impossible for a state to resort to war without violating one or more solemn treaty obligations.

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.