Washington, Aug. 1.
That he favoured a twenty per cent. reduction in armaments by the [naval powers and the retention of go. T do not believe we should give Japan equality."
Mr. Swanson added that he believed jin an American navy second to none.
said that, by refraining from replacing age limit ships to the Jextent of twenty per cent, it would [prevent the United States from bulld-ting at present but would mean factual reduction in the ships of Bri-{tain and Japan—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.