The agreement must also definitely be favourable to the naval interests of other Powers.
Concerning the suggestion that an agreement should not have been entered into, Sir Bolton said:—"We have to face the facts" (Cheers). "We have to deal with an Jessential practical problem. Germany was already constructing a fleet outside the hints laid down in the Versailles Treaty. What we have done is. by agreement with Germany, to circumseribe the effect which might flow from Germany's unilateral decision.
"We believe that this will be in the ultimate interests of all the naval Powers of the world, ud we are Satisfied that we should have committed a serious error if we bad even unduly hesitated to accept Germany's offer."
Continuing, the First Lord said that the Government had never been able to accept the view that Britain was. Jnot entitled to deal with the question of naval limitation independently.of the question of land and air disarmament. Naval limitation treaties had existed for many years, and It would be a grave misfortune it a further treaty could not be Inegotiated to replace existing ones.
HM. Govt. Not to Relax Efforts That id not mean, Sir Bolton declared, that if, in the future, a general treaty on navel limitation Jwere concluded, HM. Government would in any way relax their efforts secure an agreement on land and On the contrary, the Government regarded the prevention of international competition in all three cate-farles of armaments as a matter of the most urgent importance.
In reply to 1 question, the First Lord said that the Government would continue conversations with other naval countries, but he did not know when it was possible to have a full meeting of all the signatories of the naval treaty.
Text read from the printed page and cleaned; old type leaves the occasional error.