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particular period. Peace with security is the terminus of  
the new road. It involves a different sort of responsibilitiesthan that   
which was presented by actual warfare. It will also  
involve a longer period of time in working out the many economic  
and political problems which lie ahead than did the war itself.  
Having been active in most of the postwar committees in the  
State Department during the last three years when we studied  
and reviewed not only conditions of war, but also political,  
economic and security conditions in the postwar world, I know  
full well the number, complexity and vital importance of the  
problems and the great burden of responsibility that lies ahead for our   
Government and our Allies in the postwar world.  
Permit me to say that not even such arrangements and agreements  
as the nations may arrive at for the preservation of peace and  
security, economic and social projects are enough in themselves  
to solve the needs of the world and salve its wounds. The world  
has been nearly bankrupted. Europe has been drained of its  
younger men. Two great wars within twenty-fiVe years have  
sapped its vitality. Much of the industrial facilities havebeen destroyed  
 - vast areas of its lands laid Waste - the minds  
 the masses take on mew grievances against the ruling classe
 
                                                            
 
 
When the struggle for trade again asserts itself I am not clear   
  that the future will offer any different exhibitions of