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The historical and long-standing intense colonial, commercial and naval rivalry between Germany and Britain. The extreme envy and hatred of Britain which has been growing up in Germany, and as exhibited during the Boer War. The question of peace or war in Europe a question between Germany and Britain. Two policies in Britain for dealing with Germany during the last half century: to join a bloc and restrain her through overwhelming opposition; to try and find some working arrangement with her. A look back at these two policies. The rivalry at sea now changed to a rivalry in the air and again a British Prime Minister trying to make some arrangement with Germany. An examination of the policy of appeasement with Germany which Mr. Neville Chamberlain has been pursuing. Comments on the Munich Agreement. Motives and strategies of Chamberlain, Hitler, and Mussolini, and reasons behind them. Some of the speaker's beliefs about what might have held Hitler back, and his comments on policies and strategies. His examination of Hitler's games. The effect of the policy of appeasement towards Germany. The possible success of Hitler's Ukrainian programme and why it might work. Words from Sir Eyre Crowe, Professor J.A. Cramb, and Harold Nicolson on a policy of concession towards Germany. Hitler's promises and what they are worth, with illustrative evidence. The effect of the Munich Agreement on Britain. How far away is the next crisis, and upon what that depends. The possibility, the speaker thinks certainty, that Germany will run into plenty of trouble in Eastern Europe, that Germany will move too fast and prove too arrogant with so-called "inferior" people and will, as before, turn all against her. The maintenance of peace depending more on Britain than on any other country. Britain's survival depending first on a great effort at home, a unity of her people and a willingness to make sacrifices such as have not yet been made; also on a very close, trustful co-operation with France and thirdly on a close co-operation with the United States. An alternative to the present Government in Britain. The need for a realistic policy in Britain; a policy of ideals, a policy of advancing the ideas of freedom, the rights of little nations, tolerance and international law. The need for Britain to prepare, and to prepare swiftly, for war.