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 powers ceded by the member nations, was clearly contemplated by many sanguine promoters of the League, who recognized that without such powers permanent peace could not be secured. The history of the post-War world has, however, shown that none of the Great Powers is yet ready for this necessary surrender of its sovereign rights. It is this perverted nationalism which is now seen to block the path of progress and to threaten the very existence of civilized life. It is this nationalism which prevents politicians and peoples from realizing the vicious nature of the barriers which block trade and impede intercourse between nations. But until the domination of class and economic interests within each nation, which feeds and inspires this nationalism, can be recognized and overcome by an enlightened classless nationalism, a League of Nations will not be endowed with the authority and the power needed for world peace and progress.

The great lesson of the War and the even more important lesson of the Peace thus brought home to me the truth that justice as well as charity begins at home. It is impracticable to hope for peace and justice in international affairs unless the conditions for internal peace and justice within the nations have already been substantially obtained. It was this thought that linked up my special economic studies of over-saving and under-consumption with my wider political and economic outlook. I thus got a glimpse