Excerpts of the President's News Conference

Here is a question into which I am not going to enter for the purpose of making any detailed discussion, but it relates to a comparison of our Navy with that of other countries. Now, I have tried to indicate that I don't want to proceed on that theory. I don't see any hope in the future for competitive armaments. Of course the minute that you begin to say this country is building so many, and therefore we must build so many, you are right back on the old competitive theory of armaments, and I want to keep off that. I am in favor of an adequate defense for our own country. I stated my position in my first message to the Congress. If any of you care to read that, you will see what it is.