Courtesy Reuters

THE recent Anglo-French negotiations have again focused attention on the problem of the limitation of naval armaments. Nothing is so calculated to whet the appetite of the public as an international agreement of which the existence is known and the text withheld. Now that the text of this agreement has been published the element in it which is surprising is its futility. It is hard to see by what chain of reasoning its authors persuaded themselves that it would afford a basis for a general naval understanding. It is still more difficult to see how they would justify it as

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