“With Russia and America out of the League sanctions are a mistake. I've always thought so. You can't enforce them against a first-class power. The very people like Bob Cecil who have made us disarm, and quite right too, are now urging us forward to take action. But where will action lead us to? If we withdraw Ambassadors that's only the first step. What's the next? and the next? If you have economic boycott you'll have war declared by Japan and she will seize Singapore and Hongkong and we can't, as we are placed, stop her. You'll get nothing out of Washington but words, big words, but only words.”

— Stanley Baldwin

Conversation with Thomas Jones (27 February 1932) after the Japanese invasion of Manchuria, quoted in Thomas Jones, A Diary with Letters. 1931-1950 (Oxford University Press, 1954), p. 30.
1932

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Stanley Baldwin 225

Former Prime Minister of the United Kingdom 1867–1947

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