We live under an elective dictatorship, absolute in theory if hitherto thought tolerable in practice. How far it is still tolerable is the question I… - Quintin Hogg, Baron Hailsham of St Marylebone

It is an excellent thing that Mr Powell has joined the Ulster Unionists. They have found a new leader to desert, and he a fresh cause to betray.

The fact is that the 1935 election was fought very largely on the subject of armaments. The Government wanted to rearm "too little and too late", but still on a considerable—if not a "huge"—scale. The Socialists and Liberals condemned this policy as wrong, as false to "collective security", and as leading to a war that could otherwise be avoided... [T]his was the issue which the Labour Party chose to fight, late in 1935—the Government arms policy versus the Socialist policy of disarmament by agreement and an international air police force. Looking back on this issue in 1945, who can possibly doubt to-day that the Conservatives were right and that the Left was pitifully wrong?

The period immediately after the war came to an end with the French occupation of the Ruhr. Only Lord Rothermere ran a series of articles entitled "Hats off to France". The Left was furious. Even the moderate Right would not co-operate.
Yet if one thing is certain, it is clear that the occupation of the Ruhr was justified by the event. Germany had defaulted in her payments, claimed inability to pay. The French occupied the Ruhr, took over the coal mines, and worked them as a security for the debt. The Germans retaliated with their first inflation and with an attempt at a general strike. They tried to pretend that the inflation was involuntary. We now know better than that. When it was decided to reverse the policy Dr. Schacht put an end to the inflation in a matter of forty-eight hours. The general strike failed. The French occupied the Ruhr for a period of nine months. At the end of this time Germany capitulated, and the French had won. The six years succeeding this decisive event (1923–9) were the only peaceful years the Continent really knew between the wars. Whatever might be said by the friends of Germany the occupation of the Ruhr was a success.