"And the annual meetings of the League's Assembly are in effect official peace congresses binding on the participating states to an extent that most statesmen a quarter of a century ago would have regarded as utopian"

In this quote, Hjalmar Branting is highlighting the significance of the League of Nations' annual meetings. He specifies that these conferences function as main peace congresses, indicating they are events where representatives from various nations come together to discuss and negotiate issues associated with peace. Branting highlights that these conferences hold a good deal of importance because they bind the taking part states to a specific extent. This indicates that the choices and contracts made at these meetings are legally binding and should be followed by the taking part countries. Branting also keeps in mind that this level of cooperation and unity amongst countries would have been seen as impractical or idealistic just twenty-five years ago. In general, the quote highlights the progress and potential of the League of Nations in promoting peace and cooperation among nations.