Agreements of a military character had been arrived at in Paris: the United States of America and Great Britain guaranteed France against any future unjust attack by Germany. The American Senate did not sanction the agreement; in fact, it did not even discuss it. The House of Commons had approved it subordinate to the consent of the United States. Italy has kept aloof from all alliances. As a result of this situation, the four Entente Powers, "allied and associated" (as formerly was the official term), have ceased to be either "allied" or "associated" after the end of the War. On the other hand, Europe, after emerging from the War, is darkened and overcast by intrigues, secret agreements and dissimulated plots: fresh menaces of war and fresh explosions of dissatisfaction. Nothing can help the cause of peace more than giving a full knowledge of the real situation to the various peoples. Errors thrive in darkness while truth walks abroad in the full light of day. It has been my intention to lay before the public those great controversies which cannot merely form the object of diplomatic notes or of posthumous books presented to Parliament in a more or less incomplete condition after events have become irreparable. The sense of a common danger, threatening all alike, will prove the most persuasive factor in swerving us from the perilous route which we are now following. As a result of the War the bonds of economic solidarity have been torn asunder: the losers in the War must not only make good their own losses, but, according to the treaties, are expected to pay for all the damage which the War has caused. Meanwhile all the countries of Europe have only one prevailing fear: German competition. In order to pay the indemnities imposed upon her (and she can only do it by exporting goods), Germany is obliged to produce at the lowest possible cost, which necessitates the maximum of technical progress. But exports at low cost must in the long run prove detrimental, if not destructive, to the commerce of neutral countries, and even to that of the victors. Thus in all tariffs which have already been published or which are in course of preparation there is one prevailing object in view: that of reducing German competition, which practically amounts to rendering it impossible for her to pay the War indemnity. If winners and losers were to abandon war-time ideas for a while, and, rather, were to persuade themselves that the oppression of the vanquished cannot be lasting, and that there is no other logical way out of the difficulty but that of small indemnities payable in a few years, debiting to the losers in tolerable proportion all debts contracted towards Great Britain and the United States, the European situation would immediately improve.