Show fl I News ew Fr From F Foreign rein reign Fields IT ITALY TALY At Y CONSIDERS POWER FOUR-POWER PACT Naval aval Budget Report Warns of Heavy Arming at Sea ROME Jan 3 JP While Premier Mussolini and British Foreign Secretary Sec Sec- Sir John Simon prepared today toay today to- to day ay to converse on the world orld disarmament dis dis- armament stalemate the chamber of or deputies considered a navy budget which declared that only a pow four er r pact can save e the world from a naval aval armaments race of the worst kind ind The report signed by Marquis Giacomo Giacomo Gia- Gia como omo Medici Del committee commit commit- tee e reporter and end accepted as a statement statement statement state state- ment of II Duces Duce's own viewpoint warned arned that the principal world powers powers pow- pow ers rs are already dy arming at sea If It the big European nations were to o get together on some step looking toward oward disarmament world tension would be c relieved and the way opened for or a broader agreement on arms arms arms- including naval as well as land and air ir said Citing particularly the naval building building build build- ing ng programs of America England and nd Japan the report placed blame for or the heavy arming on Japans Japan's idea l of f her world mission This mission declared Inthe Inthe in the le report threatens a race war |