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Reference to the British political situation. Predictions as to when an election will take place. On what the results will depend when an election is held. The position of the Socialist Party in England at this time. What the speaker believes Mr. Attlee will do. The Conservative Party in England. Leadership. Some thoughts on government administration in democracies today. Four points, mentioned in the speaker's address of last year, as the four main sources of weakness in the world position of the democracies. The gap in the Atlantic Pact owing to the fact that neither Spain, nor effectively Portugal, were included in any of the schemes for the defence of Western Europe. The question of South-East Asia. Some progress in the extremely unsatisfactory currency situation in Western Europe last year; the prospect of re-valuation in the sterling areas as a result of the dollar inflation; an inflation presumably due to the coincidence of the Korean war and the impending elections in the United States. The military danger. The effectiveness of the United Nations forces in Korea. Defending Western Europe. The impossibility of combining national service with the maintenance of a long service army; Britain's experience. The problem of military organization. The need for the free nations to form some sort of union for the purpose of defence. The Korean situation as a foreshadowing of what is necessary.