The day is coming when we may have to give up orthodox free trade as we inherited it from our fathers. - Ramsay MacDonald

The substance of Germany's general case has a background of reason and human nature. I cannot be accused of ever having approached it in the "mind of Versailles," nor in the spirit of one who assumed that a powerful and a proud people could be kept subordinate by force (even by what seems to be an overwhelming force), nor have I ever seen anything but disaster issuing from and to the League of Nations if it is used by victors to perpetuate the position and mind they were in on the day of their victory... But, be that as it may, Germany has acted in such a way as to destroy the feeling of mutual confidence in Europe. It has broken up the road to peace and has beset it with terrors. It claims a measure of armed power which puts most of the nations of Europe at its mercy. Every reflecting and reasonable German must see the force of the point I am making. He must know in his heart that Berlin is not enough—that, in fact, it has upset very much more than it has pacified.

We do not believe that military alliances are going to bring security. We believe that a military alliance in an agreement for security is like a grain of mustard seed—small to begin with. That is the essential seed of the agreement, and that seed with the years will grow and grow and grow, until at last the tree that has been produced from it will overshadow the heavens, and we shall be back exactly in the military position in which we found ourselves in 1914.

The end we have to strive for is complete democratic liberty in politics and complete freedom in industry from the tyranny of monopoly and the vagaries of capitalism. Or, employing words appropriate to the spirit of Socialism, we should say that the task of the practical democratic reformer is now to show how the work of democratic liberty, begun so well by the early Radicals but dropped by their modern representatives, is to be completed; how the golden bridge of palliatives between political and social democracy is to be built; and how the foundations of social democracy are to be laid.