Foreign policy is an extremely elastic term. It may mean a great deal or very little: it may embrace the most vital interests of the world at large—humanity's very right to live and prosper—if it be the Foreign Policy of a World Power like the British Empire; or it may merely concern the interests of a particular country from a certain angle, that is to say, in so far as such interests may conflict with those of another nation or nations. These two aspects of Foreign Policy, the world and the regional, were clearly distinguished and defined after the Great War, when at the Conference which culminated in the Versailles Treaty the nations were classified as countries with world interests and countries with limited interests. It was, furthermore, given juridical expression in the composition of the Council of the League of Nations, in which World Powers were given permanent seats and the other members of the League were assigned an equal number of elective seats which they were to occupy for a limited period of time.