Why Did Britain not Go to War in March 1938?

Many historians have traced the causes of World War II to problems left unsolved by World War I (1914-1918). World War I and the treaties that ended it also created new political and economic problems. Forceful leaders in several countries took advantage of these problems to seize power. The desire of dictators in Germany, Italy, and Japan to conquer additional territory brought them into conflict with the democratic nations.
After World War I ended, representatives of the victorious nations met in Paris in 1919 to draw up peace treaties for the defeated countries. These treaties, known as the Peace of Paris, followed a long and bitter war. They were worked out in haste by these countries with opposing goals; and failed to satisfy even the victors. Of all the countries on the winning side, Italy and Japan left the peace conference most dissatisfied. Italy gained less territory than it felt it deserved and vowed to take action on its own. Japan gained control of German territories in the Pacific and thereby launched a program of expansion. But Japan was angered by the peacemakers' failure to endorse the principle of the equality of all races.
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