A.—s

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Who, having communicated to each other their respective full powers, found to be in good and due form, have agreed as follows : — CHAPTER I.—GENERAL PROVISIONS RELATING TO THE LIMITATION OF NAVAL ARMAMENT. Aetiole I. The contracting Powers agree to limit their respective naval armament as provided in the present Treaty. Article 11. The contracting Powers may retain respectively the capital ships which aro specified in Chapter 11, Part 1. On the coming into force of the present Treaty, but subject to the following provisions of this Article, all other capital ships, built or building, of the United States, the British Empire, and Japan shall be disposed of as prescribed in Chapter 11, Part 2. In addition to the capital ships specified in Chapter 11, Part 1, the United States may complete and retain two ships of the " West Virginia " class now under construction. On the completion of these two ships the " North Dakota " and " Delaware " shall be disposed of as prescribed in Chapter 11, Part 2. The British Empire may, in accordance with the replacement table, in Chapter 11, Part 3, construct two new capital ships not exceeding 35,000 tons (35,560 metric tons) standard, displacement each. On the completion of the said, two ships tho " Thunderer," " King George V," " Ajax," and " Centurion " shall be disposed of as prescribed in Chapter 11, Part 2. Article 111. Subject to the provisions of Article 11, the contracting Powers shall abandon their respective capital-ship-building programmes, and no new capital ships shall be constructed or acquired by any of the contracting Powers except replacement tonnage, which may be constructed or acquired as specified in Chapter 11, Part 3. Ships which are replaced in accordance with Chapter 11, Part 3, shall be disposed of as prescribed in Part 2 of that chapter. Article IV. The total capital-ship-replacement tonnage of each of the contracting Powers shall not exceed in standard displacement —for the United States, 525,000 tons (533,400 metric tons) ; for the British Empire, 525,000 tons (533,400 metric tons) ; for France, 175,000 tons (177,800 metric tons) ; for Italy, 175,000 tons (177,800 metric tons) ; for Japan, 315,000 tons (320,040 metric tons). Article V. No capital ship exceeding 35,000 tons (35,560 metric tons) standard displacement shall be acquired by, or constructed by, for, or within the jurisdiction of, any of the contracting Powers. Article VI. No capital ship of any of the contracting Powers shall carry a gun with a calibre in excess of 16 inches (406 millimetres). Article VII. The total tonnage for aircraft-carriers of each of the contracting Powers shall not exceed in standard displacement —for the United States, 135,000 tons (137,160 metric tons); for the British Empire, 135,000 tons (137,160 metric tons) ; for France, 60,000 tons (60,960 metric tons) ; for Italy, 60,000 tons (60,960 metric tons) ; for Japan, 81,000 tons (82,296 metric tons). Article VIII. The replacement of aircraft-carriers shall be effected only as prescribed in Chapter 11, Part 3; provided, however, that all aircraft-carrier tonnage in existence or building on the 12th November, 1921, shall be considered experimental, and may be replaced, within the total tonnage limit prescribed in Article VII, without regard to its age. Article IX. No aircraft-carrier exceeding 27,000 tons (27,432 metric tons) standard displacement shall b° acquired by, or constructed by, for, or within the jurisdiction of, any of the contracting Powers. However,-any of the contracting Powers may, provided that its total tonnage allowance of aircraft-carriers is not thereby exceeded, build not more than two aircraft-carriers, each of a tonnage of not more than 33,000 tons (33,528 metric tons) standard displacement; and in order to effect economy any of the contracting Powers may use for this purpose any two of their ships, whether constructed or in course of construction, which would otherwise be scrapped under the, provisions of Article 11. The armament of any aircraft-carriers exceeding 27,000 tons (27,4-32 metric tons) standard displacement shall be in accordance with the requirements of Article X, except that the total number of guns to be carried in case any of such guns be of a calibre exceeding 6 inches (152 millimetres), except anti-aircraft guns and guns not exceeding 5 inches (127 millimetres), shall not exceed eight. Article X. No aircraft-carrier of any of the contracting Powers shall carry a gun with a calibre in excess of 8 inches (203 millimetres). Without prejudice to the provisions of Article IX, if the armament carried includes guns exceeding 6 inches (152 millimetres) in calibre the total number of guns carried, except anti-aircraft guns and guns not exceeding 5 inches (127 millimetres), shall not exceed ten. If,