23 JULY 1927, Page 1

No public announcement was made over Sunday. On Monday the

chief delegates .met at the Villa of the Japanese delegation, and' afterwards issued a hopeful announcement. Japan, like the United States, fears that if Great Britain should build all the cruisers we need, she will be expected from regard to prestige or other causes to build in proportion, and so incur greater costs than she thinks necessary or deSirable. But it seems to be Japan . who has done great- service to prevent the Conference from failing. The tithes correspondent in Washington has given disagreeable pictures of the high spirits of the " Big Navy " party. We fancy, however, that when Congress comes to consider the voting of money, that party will sing in a lower key, whatever harm they may have done at Geneva to the cause of peace and economy.

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