'Admiral Nagano's statement of! 'Japanese naval policy acquires special Significance in' view. of his own intimate knowledge of the discussions at the abortive Conference in London, The Admiral states Japanese "naval aims with considerable clarity and hot without moderation, In partiular his rebuttal of the notion that Japan desires "identical Dressed by Lord Montell in outline British requirements, This does not mean that Japan has accepted the position which: she formally rejected at the Naval Conference, but it at! least indicates a reasonable spirit of assessment of the principles of naval defence. Interpretation of the pot entalities of attack from another navy must naturally be a determining fac-for in the problem, There "Admiral Nagano could not be specie. Outsiders are inclined to believe that Japan could afford to take of that, danger a far more conservative view has yet been vouchsafed by her experts.
Text read from the printed page and cleaned; old type leaves the occasional error.