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By Woodrow Wilson

Victory would mean peace forced upon the loser, a victor's terms imposed upon the vanquished.

Source
Address to the Senate of the United States: "A World League for Peace", January 22, 1917
Read at
The American Presidency Project (text follows the Public Papers of the Presidents)

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From Woodrow Wilson's address to the Senate on January 22, 1917, known as "A World League for Peace" or the "peace without victory" speech, given before the United States entered the First World War. He is explaining why a lasting peace cannot be a victor's peace. The sentence that follows says such a peace would be accepted in humiliation and would leave a sting and a resentment.

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