It may be said, I suppose, that we might stand aside, husband our strength, and that, whatever happened in the course of this war, at the end of it intervene with effect to put things right, and to adjust them to our own point of view. If, in a crisis like this, we run away from those obligations of honor and interest as regards the Belgian treaty, I doubt whether, whatever material force we might have at the end, it would be of very much value in face of the respect that we should have lost. And do not believe, whether a great power stands outside this war or not, it is going to be in a position at the end of it to exert its superior strength. For us, with a powerful fleet, which we believe able to protect our commerce, to protect our shores, and to protect our interests, if we are engaged in war, we shall suffer but little more than we shall suffer even if we stand aside. We are going to suffer, I am afraid, terribly in this war, whether we are in it or whether we stand aside. Foreign trade is going to stop, not because the trade routes are closed, but because there is no trade at the other end. Continental nations engaged in war--all their populations, all their energies, all their wealth, engaged in a desperate struggle--they cannot carry on the trade with us that they are carrying on in times of peace, whether we are parties to the war or whether we are not. I do not believe for a moment that at the end of this war, even if we stood aside and remained aside, we should be in a position, a material position, to use our force decisively to undo what had happened in the course of the war, to prevent the whole of the west of Europe opposite to us--if that had been the result of the war--falling under the domination of a single power, and I am quite sure that our moral position would be such as to have lost us all respect. I can only say that I have put the question of Belgium somewhat hypothetically, because I am not yet sure of all the facts, but, if the facts turn out to be as they have reached us at present, it is quite clear that there is an obligation on this country to do its utmost to prevent the consequences to which those facts will lead if they are undisputed.