It is often asked why our delegates could not have
been eontent to say that as we have neither fear nor jealousy of America—such is the literal truth—Great Britain would be content to see her building any cruisers she pleases of any gun-power she pleases.. That, of course, is in effect the admisSion which Great Britain did make and that is where the matter stands ; but, obviously, the Conference was called, not to express good will and to record our conviction of security vis-a-vis the United States, but to produce a precise formula of limita- tion which would be an important stage towards the ideal of general disarmament. The problem, after all, concerns not only ourselves and America but the rest of the .world. The real debit side of the Geneva affair is that we have not made the necessary impression but quite. the reverse on France and Italy. Lord Grey, of Fallodon, who has an interesting letter in the Times of Thursday, omits this side entirely from his review of events ; yet it is of great importance.
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