ESCALATOR CLAUSE
Japan Retains Many Old Submarines. Received 12.15 p.m. London, January 1. With the expiry of the Washington and London Naval Treaties, Japan has formally invoked the Escalator Clause enabling her to retain 15,000 tons of over-age submarines. This is regarded as a reply to the American objection to the suggested transference to the submarine category of a portion of the extra 40,000 tons of destroyers which could be kept owing to Britain invoking the Destroyer Escalator Clause.
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https://paperspast.natlib.govt.nz/newspapers/TCP19370102.2.47
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Taranaki Central Press, Volume IV, Issue 322, 2 January 1937, Page 5
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79ESCALATOR CLAUSE Taranaki Central Press, Volume IV, Issue 322, 2 January 1937, Page 5
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