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.

There is no short and easy road, no magic cure for those ills which have afflicted mankind from the dawn of history.

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.

I have often heard it said that the United States is isolated and is not interested in European affairs. I assure you that this is not the case.

Each one of these treaties is a step for the maintenance of peace, an additional guarantee against war. It is through such machinery that the disputes between nations will be settled and war prevented.

If we will maintain our hope and confidence in the genius of our people, they will work out this problem, and their ability and industry will bring us back to normal conditions.

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.