"Unfortunately, the Manchurian crisis arose at a time when those nations who might have been expected to have perceived most clearly the necessity of preventing aggression were themselves in a condition of great internal difficulties owing to the financial crisis of those days. … And perhaps it was inevitable in such circumstances that our people should take little interest in any foreign questions. It was partly for these reasons, no doubt, that the conquest of Manchuria and the other northern provinces of China came to be consummated, and all the ambitious statesmen of the world were given an object lesson of how, in spite of the League and in spite of the Covenant, the old military policies could be successfully carried out. And may I venture to emphasize at this point a lesson which must never be forgotten: how much one problem in international affairs affects the whole conduct of those affairs. It was no doubt the failure of the League to check aggression in the Far East which first struck a blow at the whole system which we were trying to establish and which facilitated even greater attacks on international security."