06/27/1923
https://www.presidency.ucsb.edu...
"It is, however, quite clear that there can be no final assurance of the peace of the world in the absence of the desire for peace, and the prospect of reduced armaments is not a hopeful one unless thi..."
"It is idle to look for stability, or the assurance of social justice, or the security of peace while wasteful and unproductive outlays deprive effort of its just reward and defeat the reasonable expec..."
"The time is believed to be opportune for these Powers to approach this subject directly and in conference; and while, in the discussion of limitation of armament, the question of naval armament may na..."
"Productive labor is staggering under an economic burden too heavy to be borne unless the present vast public expenditures are greatly reduced."