Jan, 1.
Last year was a momentous one in the history of the world, and, for all that is to be known at the present, has sown the seeds which may bring forth discord and warfare, or that peace which is so dominant in the minds of many. The exaggerated nationalism which has wrought much havoc in international relationships was in no way modified, but increased at a ti when the search for collective security was doing everything to prove how unjustified such nationlism was, and how sadly it interfered with the prospects of universal harmony. International rivalries were intensified during the year; the munitions business improved as nations sought to prepare themselves against the possible outbreak Jot war, and the old game of seek-Ing a* balance of power was actively pursued in the chancelleries of Europe, Economically there is some progress towards prosperity to be noted, though this is not so great as could' be hoped for, due entirely to, the fact that where some nations such as Great Britain made substantial forward strides the! advantages so gained domestically were offset internationally by the decreased prosperity of other coun tries. Generally the reason seems to be the greater degree of confidence felt in Great Britain where a steady improvement has been maintained for the past four years, owing chiefly to the stability of the National Government, and the] general support given to it. That was emphasized towards the end of {the year, when a general election Inet in November resulted in Mr.
Stanley Baldwin's National Government being returned with a reduced majority it is true, but still sum ciently large, to ensure continuance in power during the life of the present Parliament unless for circumstances which cannot at the present be foreseen.
Unemployment in Great Britain substantially decreased and at the present the numbers have been reduced to well under two millions. Internationally Great Britain had a great part play, and was involved in a argo number of questions in which the future peace of the world was closely involved. Early in the year Franco-British proposals were formulated looking towards the wiping jour of the provisions against Ger-Jmany's rearming in the Treaty of Versailles, her return to the League Jof Nations, and the conclusion of a Inow agreement with Germany con-Jcerning mutual assistance in Fastern Europe. The general tone of the proposals was that Germany would be accorded equality of armament she would fall into line with the other Great Powers and also the League. Germany, however, was Met {o be drawn into any such rangement, despite the fact that Russia was prepared to come in. Germany was busy rearming in violation of the treaties, and eventtually announced the formation of Jan army of 500,000 and the intention to rearm in the air, which in-Jdced was accomplished so quickly that it is apparent that Germany thad been making extensive secret' preparations for a long time before. The situation at that time was extremely grave, with the resuit that Russia and France con-
Text read from the printed page and cleaned; old type leaves the occasional error.