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A Memorandum by the Chancellor of the Duchy of Lancaster (Paper C.P.- 191 (28)) commenting on the First Lord's Memorandum: pointing out that, if the advice contained therein were followed, we should, however unjustly, incur the blame for breaking down the whole movement for Disarmament by international

agreement:

Telegrams from Geneva (Paper C.P.- 192 (28)), circulated at the request of the Chancellor of the Duchy of Lancaster:

A Memorandum by the Lord Privy Seal (Paper C.P.-193 (28)) urging the importance of doing our utmost to save the Preparatory Commission from shipwreck and containing proposals dealing with the present situation:

A Memorandum. by the Secretary of State for War, covering a Memorandum by the Chief of the Imperial General Staff on the Re-organisation of the French Army (Paper C.P.-195 (28)).

In the course of the discussion the Secretary

of State for Foreign Affairs brought to the notice

of the Cabinet evidence obtained both in Washington

and in London that the American State Department

would welcome private conversations on the subject

of Naval Disarmament, but considered that the

initiative should be taken by the British Govern-

ment. There was, however also some evidence to

show that parity would have to be recognised as

the basis of any such conversations. The opinion

was pressed, however, that, in view of the forthcom

ing Presidential Election in the United States of

America and the General Election here next year,

it would be risky to enter on such conversations

at which the acutely difficult questions in regard

to mumerical and strategical parity, the 8-inch gun,

and so forth, would have to be reopened, with the

possible result that the present relatively favour-

able position might be disturbed rather than

improved.

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