Arafat rejected the deal because as a dictator who had directed all his energies toward strengthening the Palestinians hatred toward Israel Arafat could not afford to make peace.

By focusing once and for all on helping the Palestinians build a free society I have no doubt that an historic compromise between Israelis and Palestinians can be reached and that peace can prevail.

On the other hand if the free world is concerned with how a new Palestinian leader governs then the peace process will have a real chance to succeed.

Unfortunately little attention was paid to how Arafat ruled. In fact some saw the harsh and repressive nature of Arafat's regime as actually bolstering the prospects for peace.

The central premise behind Oslo was that if Arafat were given enough legitimacy territory weapons and money he would use his power to fight terror and make peace with Israel.

I know of no more important subject to the peace of Europe and the world than the reasonable reduction of armaments especially in Europe and of naval armaments throughout the world.

I know that military alliances and armament have been the reliance for peace for centuries but they do not produce peace and when war comes as it inevitably does under such conditions these armaments and alliances but intensify and broaden the conflict.

Competition in armament both land and naval is not only a terrible burden upon the people but I believe it to be one of the greatest menaces to the peace of the world.

It is by such means as the prize offered by your Committee that the attention of the world will be focused and that men and women will be inspired to greater efforts in the interest of peace.

There has not been a war in South America for fifty years and I have every confidence that the countries of Central and South America are deeply in earnest in the maintenance of peace.