The resulting Five-Power Treaty called for a ten-year capital ship building "holiday" and placed restrictions on the size and numbers of future capital ships.
The cruiser program began in response to Japanese exploitation of a loophole in the Five-Power Treaty that restricted the size of individual warships but not aggregate tonnage.
But their attempts were in vain, and American underage warship numbers in the decade following the signing of the Five-Power Treaty lagged woefully behind those of the other four powers.
The other signatories to the Five-Power Treaty continued to build warships aggressively in the first decade under the treaty's constraints, as shown in figure 1.
In 1923, when the Five-Power Treaty went into effect, private shipyards in America employed 68,100 workers.
entry into World War II, the American fleet mustered 337 warships, consisting of ships built both before and after the signing of the Five-Power Treaty (see figure 2).
(6.) Part 3, Section I, of the Five-Power Treaty allowed the replacement of capital ships and aircraft carriers considered "over-age"-twenty years after their completion.