The mistake was enshrined in the preamble to the first German Navy Bill of 1900, by which the new High Seas Fleet was to be big enough to constitute … - Correlli Barnett

There was yet another powerful element in British public opinion in 1933 which made a return to the balance of power and the line-up of 1918 wholly out of the question. Despite the failure of the League of Nations over the Japanese aggression in Manchuria, the faith of internationalists in the future of the new world order remained undiminished. That the general situation in the world had so much worsened since the happy days of 1929, with the rise of Nazism in Germany and militarism in Japan, only stimulated the internationalists into even greater activity; the more disquieting the facts, the more faith must conquer them. The rather smug optimism evinced by internationalists in the 1920s, when they thought war and aggression had been banished for ever, gave way to a somewhat hysterical eagerness to explain away the inherent impotence and fallaciousness of the League and its Covenant so brutally exposed by the Manchurian affair, and prove how the League nevertheless could and would prevail.

Britain in particular was again paying the penalty for a hundred years of Free Trade policy. This had rendered her dependent on enormous quantities of imported foodstuffs (to the ruin of British agriculture, only now being once more resuscitated in wartime by emergency measures). Free Trade had also reduced her general economic and industrial self-sufficiency by exposing her home market to massive imports of foreign technology, all of it paid for in peacetime by British exports (now reduced to only a third of the peacetime figure) or by income from foreign investments (now all liquidated). In the Victorian era this national dependence on a high volume of seaborne imports and exports had seemed the formula for unexampled prosperity. Now, in the crisis of a world war, it constituted, as in 1914–18, a strategic vulnerability that menaced the country's very survival.

It is impossible to exaggerate the long-term consequences, social and psychological, of the experiences of the new industrial workforce in the raw factory settlements of the late Georgian and early Victorian England under conditions of ferocious competition and unbridled exploitation. It was in that era, when men, women and children were flooding into these settlements from the countryside and exchanging the slow, natural rhythms of the land or self-employed crafts (however hard that life might have been) for the harsh mechanical discipline and the pace and clamour of the mill, exchanging the village for the back-to-back terrace, that the British industrial working class, with its peculiar and enduring character as a culture apart, an alienated group often embittered and hostile, was created. It happened that water power and coal and iron largely existed in the bleak, wild landscapes of northern England, South Wales and lowland Scotland – regions hitherto lacking the numerous population and rich civilisation of the south; indeed regions traditionally turbulent and remote from the government of the Crown since the middle ages. Rare it was for the new factory settlements to cluster round an established city, as later would German industries develop round Leipzig and Dresden, Düsseldorf and Cologne: instead villages like Manchester, Birmingham, Leeds, Huddersfield, Bradford, Halifax, Middlesbrough proliferated into vast brick-built industrial camps; nothing but mean dwellings, drink-shops and "works".