[W]hat really determines the Foreign Policy of this country is the question of sea power. It is the Naval question which underlies the whole of our E… - Edward Grey, 1st Viscount Grey of Fallodon

The situation has developed so rapidly that technically, as regards the condition of the war, it is most difficult to describe what has actually happened. I wanted to bring out the underlying issues which would affect our own conduct and our own policy, and to put them clearly. I have now put the vital facts before the House, and if, as seems not improbable, we are forced, and rapidly forced, to take our stand upon these issues, then I believe, when the country realizes what is at stake, what the real issues are, the magnitude of the impending dangers in the west of Europe, which I have endeavored to describe to the House, we shall be supported throughout, not only by the House of Commons, but by the determination, the resolution, the courage, and endurance of the whole country.

We are in the presence of a European conflagration; can anybody set limits to the consequences that may arise out of it? Let us assume today we stand aside in an attitude of neutrality, saying ‘No, we cannot undertake and engage to help either party in this conflict.’ Let us suppose the French fleet is withdrawn from the Mediterranean; and let us assume that the consequences—which are already tremendous in what has happened in Europe even to countries which are at peace—in fact, equally whether countries are at peace or at war—let us assume that out of that come consequences unforeseen, which make it necessary at a sudden moment that, in defense of vital British interests, we shall go to war; and let us assume which is quite possible—that Italy, who is no neutral—because, as I understand, she considers that this war is an aggressive war, and that the Triple Alliance being a defensive alliance her obligation did not arise—let us assume that consequences which are not yet foreseen and which, perfectly legitimately consulting her own interests, make Italy depart from her attitude of neutrality at a time when we are forced in defense of vital British interest ourselves to fight—what then will be the position of the Mediterranean? It might be that at some crucial moment those consequences would be forced upon us because our trade routes in the Mediterranean might be vital to this country.

[A]nd to this the German Minister of Finance adds that the heavy burden of thousands of millions must be borne through decades, not by Germany, but by those whom she is pleased to call the instigators of the war. In other words, for decades to come Germany claims that whole nations who have resisted her should labour to pay her tribute in the form of war indemnities. Not on such terms can peace be concluded or the life of other nations than Germany be free, or even tolerable. The speeches of the German Chancellor and Finance Minister make it appear that Germany is fighting for supremacy and tribute. If that is so, and as long as it is so, our allies and we are fighting, and must fight, for the right to live, not under German supremacy, but in real freedom and safety.