Woodrow Wilson: “The United States has accumulated a great debt, but not in proportion to those that other countries have accumulated…”

In recommending to you that Congress take appropriate action with regard to this agreement, certain facts should be brought to your attention.

We have been vigorously building up a great merchant marine and providing for improvement of marketing in foreign countries by the passage of an export trade law.

Actual relief can come only from the adoption of constructive measures of a broader scope, from the restoration of peace everywhere in the world.

I herewith call your attention to an agreement with Belgium made by the British and French Premiers and myself.