US Presidency
1930

The more selfish minded will give little credence to the argument that savings by other parties to the agreement in the limitation of naval construction are of interest to the American people, yet the fundamental economic fact is that if the resources of these other nations are freed for devotion to the welfare of their people and to pacific purposes of reproductive commerce, they will result in blessings to the world, including ourselves. If we were to accept the Geneva conference base as the end of naval strength under competitive building for the three Governments, the savings in construction and operation by the treaty is literally billions of dollars. The question before us now is not whether we shall have a treaty with either three more 8-inch cruisers or four less 6-inch cruisers, or whether we shall have a larger reduction in tonnage. It is whether we shall have this treaty or no treaty.