In the light of further experience it must unhappily be said that the ejection of that Protocol actually sounded the bugle for the revival of national armament, and the present diMeulties with which world statesmanship is confronted, including the disappearance of Japan and Germany from the League, have their origin the rejection of the Protocol, in spite of the admirable reasons which Viscount Ishii adduces for inculeat-Ing a policy of caution, The fanatics were not reckless—indeed those who "Imposed caution brought about the very dangers which the Viscount feared. 'This has beer clearly apparent in the contributions recently made by Lord Lloyd, Mr. 'Winston Churchill and Lord 'Hugh Cecil to discussion of the League's present position, and in particular France's uneven' support during the last two oF three years. The Viscount's outicek, however, differs considerably from that of the present government in power in Japan. But his observations have a special value in that material is available for re constructing Japanese policy on more coherent lines than at presenta.
Text read from the printed page and cleaned; old type leaves the occasional error.