25 JANUARY 1930, Page 1

The Prime Minister's speech was admirable. His pacific ideals are

no doubt what they have always been ; but what a difference in the expression, in the sense of responsibility, and in the businesslike recognition of difficulties, from the flighty and taunting character of the speeches which he was accustomed to make at the beginning of the War ! It was very wise of him to dwell upon " security "—the word that goes to the heart of the French. Were there not, he asked, real pledges of security in the Peace Pact, the Covenant, the World Court, the ,Optional Clause and all those Treaties and instruments of which the League was sponsor ? His chief point was :that the military preparation of any one nation must be determined to a considerable --degree by the - military preparation of the others. Therefore; international agreement and disarmament could not be separated. So long as this was understood every step forward was to the good ; it could become a longer step at every fresh opportunity for reviewing the situation.