There is a marked difference in tone between the first two speeches and the third. In the former Demosthenes insists that everything is still to be done, but he points out that there are many weak points in Philip’s armour, and a vigorous and united policy may still defeat him. In the third he makes it clear that the opportunity is past, and the lost ground can only be recovered by desperate measures. He openly advocates the conversion of the Festival Fund into a military chest, and this is the main theme of the oration, to which every argument in turn leads up.[312] The efforts of Athens were dilatory and insufficient; Olynthus and the other cities of the Chalcidian League fell in the following year (349 B.C.); they were destroyed, and all the inhabitants made slaves. Attempts to unite the Peloponnesian States against the common enemy were futile, and negotiations were begun between Philip and Athens. They were conducted at first informally by private persons, but in 347 B.C., on the proposal of Philocrates, an embassy was sent to Philip. Philip’s answer, received in 346 B.C., demanded that Phocis and Halus should be excluded from the proposed treaty. Demosthenes contested this point, but Aeschines carried it. A second embassy was sent, and the discreditable Peace of Philocrates was signed. The result was the ruin of Phocis. Although Demosthenes disapproved of the peace, later in the year, in his speech _On the Peace_, he urged Athens to keep its conditions, arguing that to break it would bring upon them even greater disaster.