My right hon. Friend says she [Germany] is in such a condition that she cannot possibly pay [reparations]. No, she cannot pay us. She is to pay Franc… - David Lloyd George

Take Article 12 of this Covenant: "The Members of the League"—which means the nations of the earth—"agree that if there should arise between them any dispute likely to lead to a rupture, they will submit the matter either to arbitration or to inquiry." ... Supposing that had been in existence in 1914, it would have been difficult for Germany and Austria to have gone to War. They could not have done it, and, if they had, America would have been in on the first day, not three years afterwards, which would have...made all the difference. You could not have had the War in 1914 had the League of Nations been in existence. With this machinery I am not going to say you will never have war. Man is a savage animal. ... If it avert one war, the League of Nations will have justified itself. If you let one generation pass without the blood of millions being spilt, and without the agony which fills so many homes, the League of Nations will have been justified. I beg no one to sneer at the League of Nations. Let us try it. I believe it will succeed in stopping something. It may not stop everything. The world has gone from war to war, until at last we have despaired of stopping it. But society with all its organisations has not stopped every crime. What it does is that it makes crime difficult or unsuccessful, and that is what the League of Nations will do. Therefore I look to it with hope and with confidence.

It is an incredibly bad Bill. It is really an incredible Bill at all for the Labour Government to have introduced. It contains, in my judgment, the worst features of Socialism and individualism without the redeeming features of either. It is State interference without State protection. It has all the greed of individualism without any of the stimulus of competition... The Bill is a complete surrender to one interest—a complete surrender—without regard to the general interest of the community.

British Liberalism is not going to repeat the errors of Continental Liberalism. The fate of Continental Liberalism should warn them of that danger. It has been swept on one side before it had well begun its work, because it refused to adapt itself to new conditions. The Liberalism of the Continent concerned itself exclusively with mending and perfecting the machinery which was to grind corn for the people. It forgot that the people had to live whilst the process was going on, and people saw their lives pass away without anything being accomplished. But British Liberalism has been better advised. It has not abandoned the traditional ambition of the Liberal party to establish freedom and equality; but side by side with this effort it promotes measures for ameliorating the conditions of life for the multitude.