The equality among all members of the League which is provided in the statutes giving each state only one vote cannot of course abolish the actual material inequality of the powers concerned.
A formally recognized equality does however accord the smaller nations a position which they should be able to use increasingly in the interest of humanity as a whole and in the service of the ideal.
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It wouldn't be fair to say that conservatives cherish property the way liberals cherish equality. But it would be fair to say that the takings clause is the conservatives' recipe for judicial activism just as they say liberals have misused the equal protection clause.