A New Naval Race The decision of the Italian Government
to build two battleships of 35,000 tons each—perfectly legitimate, of course, under the Washington Treaties—is an admirable example of how the race in armaments works. Germany takes advantage of the right given her under the Treaty of Versailles to build 10,000 ton battleships, and manages to make them so powerful that when she has constructed two of them France finds it necessary to reply with two new capital ships of 26,000 tons each. But that upsets the Franco-Italian relationship, and Italy, to be on the safe side, goes to the full limit permitted by the Washington Treaty and decides to lay down two 35,000 ton ships. None of the three countries can afford to do it on financial grounds, but none thinks it can afford not to do it on naval grounds. If this goes on within the bounds of agreed treaties it is clear enough what will happen if a race without restrictions sets in.
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