The effects of breaking off diplomatic--and, still more, commercial--relationships, although no shot is fired and no regiment mobilised, and of mere neutrality differ _toto coelo_.

The very people who are least influenced by moral restraints, who scorn justice, will be most influenced by the financial losses and the destruction of their trade.
It was, no doubt, right "to commend a study of the question" to His Majesty's Government, but it is also well to commend to the Government the desirability of consultation with those outside the Government departments who have given study to it already.

Like other problems, it should be considered in advance during the War.

As Lord Shaw forcibly pointed out, "The project does not mean the slackening of our efforts or a weakening of our forces or timidity in our policy in the present War.
If it did I would not be associated with it for one hour." To quote Lord Grey's words, Germany has to be convinced that force does not pay, that the aims and policy of her military rulers inflict intolerable and also unnecessary suffering upon her.

The regeneration of Germany, a real new birth, is necessary if the peace of the world is to be secured; and surely by now we might have learned that such regeneration will never come unless Germany is beaten in this War.