This is our world, and we must make the best of it.

The nations must be organized internationally and induced to enter into partnership, subordinating in some measure national sovereignty to worldwide institutions and obligations.

In short, it may be said that on paper the obligations to settle international disputes peacefully are now so comprehensive and far-reaching that it is almost impossible for a state to resort to war without violating one or more solemn treaty obligations.

The question is, what are we to do in order to consolidate peace on a universal and durable foundation, and what are the essential elements of such a peace?

The years of the economic depression have been years of political reaction, and that is why the economic crisis has generated a world peace crisis.

Four years of world war, at a cost in human suffering which our minds are mercifully too limited to imagine, led to the very clear realization that international anarchy must be abandoned if civilization was to survive.

In our modern world of interdependent nations, hardly any state can wage war successfully without raising loans and buying war materials of every kind in the markets of other nations.