It is not to be expected that human nature will change in a day.

There are but few naval powers, but there are many land powers.

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.

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.

Adequate defense has been the catchword of every militarist for centuries.

I do not hesitate to say that the limitation on naval craft between the great naval powers was too high.

I further value this gift as it gave me an opportunity to accept this distinguished honor in a country so devoted to this cause and whose history marks a wonderful chapter in world development.