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Sen. William H. King stands outdoors, SOTs: it would be inconsistent if, during talk in favor of peace, if we continue to spend more than $200 million [on military appropriations]; speaks of deficit of $1.5 billion if don't reduce military spending / CU SOT: at the London Naval Conference, a recommendation was made that US should expend more than $1 billion for new construction, and of course there would be more expenses of $400-$500 million each year for maintenance of Navy; Ramsay MacDonald proposed that battleships be abolished or reduced in number and tonnage; our govt didn't assent to that, so if that program is carried out there are to be more than $1 billion appropriated for naval construction / CU SOT: US should take lead in limiting/reducing burdens of govt and naval armament; "Our govt should lead the world not only in a material way but in a moral and spiritual way. It should be the one to lead the world in the paths of peace and away from the paths of war. Our govt should wear the scepter of moral supremacy and lead humanity into peace and into cooperation and into world solidarity"