[T]hree of the most important resolutions, namely, those relating to the Most-Favoured-Nation treatment, protection against dumping or unfair competi… - H. H. Asquith

Some of the great results of the war, if they are adequately realized, are in complete harmony with what for ages past have been Liberal aims and ideals. I mean, for instance, the abolition of militarism; I mean the progressive disarmament of the civilized peoples of the world; I mean the recognition for small states as well as for great States of the principle of self-determination. ... And it means, above all, or ought to mean...a conversion of the old State system with its precarious equipoise of power, with its shifting alliances and combinations, with its infinite opportunities for the achievements of selfish ambition and territorial aggrandizement, it means the conversion of that into a true international democratic polity, a system of Government under which there will be equal rights and equal power to all States whatever their size.

So far from enjoying the undisputed hegemony which was so confidently predicted for British trade 50 years ago, there was not now an inch of ground in any one of the international markets for which we were not fighting with all our available strength. We had long ceased to enjoy that relative superiority in natural advantages with which we started upon the race.

The military domination of Prussia, with all that it involved to the fortunes of the secular struggle between force upon the one side and right upon the other, that domination has been once and for all and for ever overthrown.