The world will not be encouraged in looking forward to
the Conference at Lausanne. Failure there would throw us almost into despair. The experts and Commissioners who have advised the Governments and the League must have convinced the Governments, as they have the general public, that the small States of Eastern Europe, Austria and Hungary to begin with, are on the verge of a collapse which would spread through Europe. That is a matter of overwhelming importance, and will affect each nation far more seriously than its particular rivalries. Yet each Government still puts those rivalries first. Success goes with success. Success in London, leading to success at a Danubian Conference, and successful prospects in the Disarmament Conference, placating the United States, might lead up to success at Lausanne and a fresh economic start for the world. The first success is lacking now. The greater efforts are needed, therefore, to make any final suceess attainable. * * * *
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