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.
There are but few naval powers, but there are many land powers.
I know of no more important subject to the peace of Europe and the world than the reasonable reduction of armaments, especially in Europe, and of naval armaments throughout the world.
I do not hesitate to say that the limitation on naval craft between the great naval powers was too high.