Abstract
HE Japanese press is unanimous in rejoicing at the conclusion of the London Naval Treaty, considering it as a step forward in the-direction of a further limitation of armaments, while it expresses its dissatisfaction over the inability to go still further toward the curtailment of naval expenditure. Some papers are skeptical about the agreement respecting large cruisers between the United States and Japan, and hope that America will not so act as to instigate naval building competition.
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