Following the failure of the Pan-American Conference at Santiago, Chile (TIME, Mar. 10, 1923) to settle upon a plan of naval disarmament, South American republics began to arm, concentrating upon their navies.

Last week, a correspondent of The Christian Science Monitor gave a few facts about the naval armament race in the four principal countries on the South American continent.

Chile, in fear of Peru, has built and opened the largest dry-dock in South America for the purpose of keeping her Navy at the highest point of efficiency.

Peru, advised by a U....

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