There have been many rumours during the week about a
new disarmament conference to be summoned either by this country or by the United States, or jointly by the two countries. We do not profess to know their basis, but it is continually becoming clearer that the League proposal for a disarmament conference, based on the Protocol, to be held next July, is dying -or dead. It .seems likely that the Government will attempt to put something of their own in the ,place of Mr. MacDonald's scheme. The difficulties are, of course, very great, but there is one favourable fact. The pressure of .naval and military expenditure on all the nations of Europe., including France, is becoming intolerable, and it may be that European -Governments will, in spite of themselves, be forced into a pacifist attitude by sheer financial insolvency.
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