The lead we had given in post-War years by the successive reductions in the size of our Air Force had not been followed, nor had it really helped us … - Anthony Eden

It is with the great democracies of Europe and America that our natural affinities must lie. We must stand by our conception of international order without which there can be no lasting peace. Nor must we for one instant weaken in our own faith in Parliamentary government and individual liberty. These are the things that count. They are the fundamental articles of our faith and our contribution to what survives of civilisation today. However anxious the future, the need for unity and forbearance becomes not less but greater. In that spirit let us approach the future.

Wolfe has said: "War is an option of difficulties."

[W]e cannot ignore that, while increasing anxiety in Europe and elsewhere has resulted in many countries increasing their armaments, our own armaments have shown no comparable increase. On the contrary, when compared either with the immediate post-War period or with the period before the War, it will be found, I am confident, that whereas the trend of the armaments of the nations as a whole shows a definite increase, our own armaments show a reduction. I will give you one example. The tonnage of our Navy in 1914 was 2,160,000. This month it is 1,180,000. The personnel in our Navy in August, 1914, was 152,000, whereas today it is 92,338. At the close of the War there was no air force in the world superior to ours. Today we are only fifth among the air Powers. Our Army, as the world knows, is little more than a police force. Those facts do not justify any suggestion that we as a nation have rearmed, or are rearming, excessively; still less do they afford the flimsiest basis for the fantastic charge that we are leading an armaments race. On the contrary, the truth is that we have for long delayed the most elementary measures of national defence in the hope that international agreement would eventually make them unnecessary.