He was a free-trader, because he felt it was the best, with all its drawbacks. There were higher wages in protected America, but there was corrupt po… - Ramsay MacDonald

Were I a German Minister I should sign [the Treaty of Versailles<nowiki>]</nowiki> only after making it clear that my signature was obtained under compulsion and that the provisions were such that I could not guarantee they would be carried out.

We do not believe that a nation can flourish on the poverty of its masses. Empty pockets are not only poverty, but breed poverty. Our own backs and stomachs still are the most neglected and yet the most profitable of our markets. Those who believe that safeguarding or protection is any aid to the development of that market had better study protected countries, where wages are low, unemployment is habitual, and poverty even worse than it is here. Unemployment insurance is not a dole, it is a benefit which has been paid for just like life insurance. These payments must be made adequate for the purpose in order to safeguard our people against the demoralisation of charity. We have concentrated this policy into two points and they stand as representing our purpose. Work first of all, but if no work, maintenance.

The channels of world trade are so obstructed by the pursuit of nationalist economic policy that steps should be taken at once to make it possible to arrive at an international economic agreement which would revive international trade. A return to free trade pure and simple would only increase unemployment.