Which did president wilson consider the most important of his fourteen points?
a.
the end of german colonization in africa
b.
reparations - punishment for germany for starting the great war
c.
the formation of a world organization - the league of nations
d.
an end to all alliances among nations

The most important point for him was definitely the establishment of the League of Nations (c)

you can also think of it in terms of importance: such a league would be more important and effective in establishing world peace than points A and B which only have to do with Germany (even if in reality this was not so...)