NAVAL AGREEMENT.
„ (Received this clay at 11 a.m.) WASHINGTON, July 31. The agreement between United States and Great Britain, looking to a complete equality in the strength of their navies, is held by President Hoover as an answer to the critics of his decision to postpone work on three cruisers, which were to have been next fall. The President, in a letter replying to criticisms of his action by the National Commander df the American Legion, Mr McNutt, describes the agreement as “the first step for a renewed consideration of the reduction df excessive world naval armaments and a forward step of the first importance.” Reiterating the position that defence is all that the United States is seeking, the President expresses the opinion that it is better to establish the relation, such as that represented in the parity agreement, than to “ resign ourselves to continued attempts to establish it by rival construction program'4 < mes.” •
WHEAT QUOTATIONS. NEW YORK,'July 31. Chicago market: July 143), Septem'V.-. ber 147, December 1543.
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Hokitika Guardian, 1 August 1929, Page 5
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168NAVAL AGREEMENT. Hokitika Guardian, 1 August 1929, Page 5
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