Proposals for disarmament stand on an entirely different footing from proposals to agree to arbitration. The State that disarms renounces to the extent of its disarmament the power to protect itself. Upon what other power is it suggested that it should rely? In the last analysis the suggestion amounts to a proposal for the abolition of the State, or its abandonment of its claim to represent the right. Those who propose agreements for disarmament imagine that the suggestion if adopted would lead to the establishment of peace. Have they considered the natural history of peace as one of the phenomena of the globe which we inhabit? The only peace of any value is that between civilised nations. It rests either upon the absence of dispute between them or upon an equilibrium of forces. During the last few centuries there has usually been at the end of a great European war a great European congress which has regulated for the time being the matters which were in dispute, and the treaty thus negotiated has remained for a long time the basis of the relations between the Powers. It is always a compromise, but a compromise more or less acceptable to all parties, in which they acquiesce until some change either by growth or decay makes the conditions irksome. Then comes a moment when one or more of the States is dissatisfied and wishes for a change. When that has happened the dissatisfied State attempts to bring about the change which it desires, but if the forces with which its wish is likely to be opposed are very great it may long acquiesce in a state of things most distasteful to it. Let there be a change in the balance of forces and the discontented State will seize the opportunity, will assert itself, and if resisted will use its forces to overcome opposition. A proposal for disarmament must necessarily be based upon the assumption that there is to be no change in the system, that the _status quo_ is everywhere to be preserved. This amounts to a guarantee of the decaying and inefficient States against those which are growing and are more efficient. Such an arrangement would not tend to promote the welfare of mankind and will not be accepted by those nations that have confidence in their own future. That such a proposal should have been announced by a British Government is evidence not of the strength of Great Britain, not of a healthy condition of national life, but of inability to appreciate the changes which have been produced during the last century in the conditions of Europe and the consequent alteration in Great Britain's relative position among the great Powers. It was long ago remarked by the German historian Bernhardi that Great Britain was the first country in Europe to revive in the modern world the conception of the State. The feudal conception identified the State with the monarch. The English revolution of 1688 was an identification of the State with the Nation. But the nationalisation of the State, of which the example was set in