England totally disarmed and an easy prey to hostile forces! Can you think of anything more likely to excite cupidity and hostile intention? We should sink to the level of a fifth rate Power, our Colonies would be stripped from us, our commerce would decline, famine and unemployment would stalk the land. … I share your longing for peace. God forbid that it should be again disturbed! The constant and undivided effort of the Government is for its preservation. But I have yet to learn that the cause of peace can be served by rendering our country impotent.
Letter to Arthur Ponsonby (16 December 1927); published in Semi-detached Idealists: The British Peace Movement and International Relations, 1854-1945 (2000) by Martin Ceadel, p. 271