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"With Russia and America out of the League sanctions are a mistake. I've always thought so. You can't enforce them against a first-class power. The very people like Bob Cecil who have made us disarm, and quite right too, are now urging us forward to take action. But where will action lead us to? If we withdraw Ambassadors that's only the first step. What's the next? and the next? If you have economic boycott you'll have war declared by Japan and she will seize Singapore and Hongkong and we can't, as we are placed, stop her. You'll get nothing out of Washington but words, big words, but only words."
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