INTERNATIONA!: Naval Parley

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are of the short range type. The U. S., with but few bases, yet with the distant Philippines to defend, would be placed at a great disadvantage, yet would have won a "moral victory."

^{*When the U. S., Britain, Japan, France and Italy adopted the
5-5-8-1.67-1.67 ratio made binding until 1932.
*The Mauretania, "fastest liner in the world," makes only 32 miles per hour
(28 the knots).}