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It is not to be expected that human nature will change in a day.
France and Italy have not yet signed this treaty or agreed to naval limitation as between those nations, but I have confidence that in time they will do so.
Competition in armament, both land and naval, is not only a terrible burden upon the people, but I believe it to be one of the greatest menaces to the peace of the world.
There has not been a war in South America for fifty years, and I have every confidence that the countries of Central and South America are deeply in earnest in the maintenance of peace.
The fact that so many of your people are today residents and citizens of the United States, lending their influence to our civic and economic life, which has meant so much to our development.
I know of no more important subject to the peace of Europe and the world than the reasonable reduction of armaments, especially in Europe, and of naval armaments throughout the world.
If we will maintain our hope and confidence in the genius of our people, they will work out this problem, and their ability and industry will bring us back to normal conditions.
I further value this gift as it gave me an opportunity to accept this distinguished honor in a country so devoted to this cause and whose history marks a wonderful chapter in world development.
It is by such means as the prize offered by your Committee that the attention of the world will be focused and that men and women will be inspired to greater efforts in the interest of peace.