[T]here is no comparison between the importance of the German Navy to Germany, and the importance of our Navy to us. Our Navy to us is what their Arm… - Edward Grey, 1st Viscount Grey of Fallodon

The British, French, and Russian Governments mutually engage not to conclude peace separately during the present war. The three Governments agree that when terms of peace come to be discussed no one of the Allies will demand terms of peace without the previous agreement of each of the other Allies.

We worked for peace up to the last moment, and beyond the last moment. How hard, how persistently, and how earnestly we strove for peace last week the House will see from the papers that will be before it. But that is over, as far as the peace of Europe is concerned. We are now face to face with a situation and all the consequences which it may yet have to unfold.

[O]ne or two others, and certainly the Australians, require a good deal of education. They must realise that, if we denounce the Japanese Alliance, we can no longer rely on the assistance of the Japanese Fleet, and we must prepare for the possibility that Japan may enter into arrangements which may bring her into hostility with us. This would mean maintaining on the China Station a Fleet superior not only to the Japanese Fleet, but also to any probable combination of the Japanese Fleet with any other Fleet in those waters. This would, of course, be in addition to maintaining the two-Power standard in European waters, both in home waters and in the Mediterranean. The logical conclusion of denouncing the Japanese Alliance would be that Australia and New Zealand should undertake the burden of naval supremacy in China seas. This they are neither willing nor able to do.