The President laid the cornerstone of the $10,000,000 home of the National Press Club, Washington. His speech dealt mostly with the press as a "cornerstone of liberty," but contained also a recapitulation of recent foreign policy as follows:
"It is useless to love liberty unless we establish laws. It is futile to cherish justice unless we provide courts.
"Our country has lately recognized this important principle by signifying its determination to promote international justice by adhering to the World Court.
"This has been done under reservations which adequately safeguard American rights and...