Statement Regarding the Signing of the Vinson Navy Bill.
Because there is some public misapprehension of fact in relation to the Vinson Bill, it is only right that its main provision should be made wholly clear.
This is not a law for the construction of a single additional United States warship.
The general purpose of the Bill is solely a statement by the Congress that it approves the building of our Navy up to and not beyond the strength in various types of ships authorized, first, by the Washington Naval Limitation Treaty of 1922 and, secondly, by the London Naval Limitation Treaty of 1930.
As has been done on several previous occasions in our history, the Bill authorizes certain future construction over a period of years. But the Bill appropriates no money for such construction and the word "authorization" is, therefore, merely a statement of the policy of the present Congress. Whether it will be carried out depends on the action of future Congresses.
It has been and will be the policy of the Administration to favor continued limitation of Naval armaments. It is my personal hope that the Naval Conference to be held in 1935 will extend all existing limitations and agree to further reductions.
Franklin D. Roosevelt, Statement Regarding the Signing of the Vinson Navy Bill. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/208561