And so it is, seven years nearly after the War, that we yet see this prolonged and intensified depression, and this horrible figure of unemployment...We stand to-day at a point where, roughly speaking, one out of every ten of the insured population is out of work...But there is no direct remedy from the State alone. There can be no direct remedy by private men alone. Nothing can be done unless we can all pull together with a will. And I am-and I speak seriously-quite profoundly thankful that the Labour Party have been in office, and for this reason: that they now know that they, no more than any other Government, have been able to produce a panacea that would remedy unemployment. And in their hearts they must admit that they have no remedy which can be guaranteed to cure this disease and at the same time maintain unimpaired the international position and power of the British Empire.