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land has the biggest merchant MA
Nne. America has a ,ast number of
ships. loo. Certainly no nation wants
10 limit the building of ships used
for commercial purposes. Yet some
agreement must be mad rs to the
conversion CT those merchantmen in
time of war.
So tho public can rest assured Of
one ~thing-the United States doesn't
intend TO scrap its army and navy
merely to respond to an emotional de
mand hat America set the others n
good example. America means to
force a curtailment OF armament
building. On hat score the United
States has an advantage. For II the
rest of tho world will not agree to
quilt spending money for useless arma-
mcnt, the United States VIII find
herself compelled slowly to build the
most powerful navy afloat. That nay
like an empty threat. but It is
a fact that our officials believe Amer |
ica will nave no alternative n that
IL the other nations fail to limit their
programs h United States will be
in a good position to continue her
naval construction.
America is not actuated alone, how
tfti ny iiC dt5hiC ~ bES tiC CiluItttb
of war minimized by a general reduc-
ton in naval power. The United
States would like to SEQ h. other
countries cut down SO that the enor-
nous sums now spent on armies and
navies could be better devoted to the
upbuildlng of the economic strength
OF each country. Furthermore, IL
less money wero spent on armament,
less money would have to be raised
by the Europeans to meet their tax
bills and the price OF their paper cur
mt in terms of gold would CORE
spondingly rise. This would tend to
stabilize international exchange and
make it possible for America to sell
her agricultural and manufactured |
products in foreign markets agrin. 1t
would mean a revival of business and
an end OF unemployment. Also, 1t
would mean that the European coun-
tries which 1--WE America billions of
dollars would be able to begin pay
ments on their war debt n interest. |
The receipt Of a half billion dollars
OF interest alone from Europe would
mean an immediate easing OF the bur-
den on tho American taxpayer. Be
hind the urge for Limitation OF arma-
. ment are practical and material rea- |
sons as well as idealistic conceptions.
But how can armament be iimitedc
This correspendent has canyassed the
highest army and navy officials. They
talk IN terms of RELATIVELY. II aimee
fca ceases building so many ships, so
shall the others. II America gives up
SO many Notifications SO shall the
others. And so on. But the navy
men admit that in the end the pro-
portion OF strength between the large
powers will remain the same. They
: see no other way out of It,. They CON
code the necessity for a reduction of
h financial burden but they jealous
ly Insist on holding the United States
as the second naval power If not the
first. Undoubtedly British policy will
be the same. Japan would b pre-
vented from catching up with Amer
lea or passing h United States and
menacing the British -seapowcr, n
such a stupendous job could really
be borne by Japanese people which
is to be doubted. TIL Japanese, how
ever. would be checkcd-America and
England would stand still n money
would DO saved. That's about as CON
TTretc a program as one hears dis
cussed in Washington.
As for coast d~efenses in the Pacific,
the fertilization of strategic bases and
all that sort of thing. our military and
naval experts talk as IL they were
preparing for e~ventualities in the Pa
cif.c irrespective of the outcome of
the conference on Far Eastern prob
lens. If they had more faith in Jap
anese pledges. that wouldn't be the
case. So in order to hold the mill
tary and set in America at bay
and 10 keep the same class from run
ming way with the Japanese budget
annually. the diplomats viii have to
make an agreement that will have the
!, potential support not only OF the navy