Competition in armament, both land and naval, is not only a terrible burden upon the people, but I believe it to be one of the greatest menaces to the peace of the world.

I know that military alliances and armament have been the reliance for peace for centuries, but they do not produce peace; and when war comes, as it inevitably does under such conditions, these armaments and alliances but intensify and broaden the conflict.

Certain it is that a great responsibility rests upon the statesmen of all nations, not only to fulfill the promises for reduction in armaments, but to maintain the confidence of the people of the world in the hope of an enduring peace.

Public opinion shapes our destinies and guides the progress of human affairs.

It is by such means as the prize offered by your Committee that the attention of the world will be focused and that men and women will be inspired to greater efforts in the interest of peace.

France and Italy have not yet signed this treaty or agreed to naval limitation as between those nations, but I have confidence that in time they will do so.

It is idle to say that nations can struggle to outdo each other in building armaments and never use them. History demonstrates the contrary, and we have but to go back to the last war to see the appalling effect of nations competing in great armaments.