Superb AQS, signed “Ronald Reagan,” written in fountain pen on an 8.5 x 11 sheet of his personal Pacific Palisades letterhead, no date [circa 1965]. In full: “Appeasement doesn’t give a choice between peace or war but only between fight or surrender.” The consignor, chairman of the Wisconsin Young Republican Convention in the mid-1960s, explains that he originally obtained the item from Reagan as the result of a request for contributions to a fund-raising auction, and retained the item when the auction was cancelled due to insufficient donations. The item is accompanied by an original 1964 copy of a trade magazine containing a lengthy article by Reagan, titled “No Place to Escape To,” which incorporates the same quotation in full. The very slightest suggestion of handling wear, otherwise very fine, spotless condition. This quotation is the last from the remarkable series that has remained in the possession of our consignor until now. Rare, characteristic, and most impressive for display! Auction LOA John Reznikoff/PSA/DNA and R&R COA.