"The course of our country in recent years has been an example of these principles. We have avoided entanglements by reserving to our own decision when and how we should help. We have not failed to help. We have contributed hundreds of millions of dollars to foreign charities. We have given freely of our counsel to the settlement of difficulties in Latin America and the adjustment of war problems in Europe. We are still pursuing that course. It has been a practical course, and it has secured practical results. One of these most important results is found in the disarmament treaties, which have saved our own country to date about $300,000,000, and likewise relieved other nations. Another important result has been the adoption of the Dawes plan for the settlement of reparations. The effect these will have in averting war and promoting peace cannot possibly be overestimated. They stand out as great monuments, truly directing the course of men along the way to more civilization, more enlightenment, and more righteousness. They appear to me properly to mark the end of the old order, and the beginning of a new era. We hope they are the end of aggressive war and the beginning of permanent peace."