text_original: We must guard against exaggerated economy in naval matters, but also we ought to distrust fan  tastic projects which would put us into collision with nations which are important to our position in Europe.
text_transcription: WE MUST GUARD AGAINST EXAGGERATED ECONOMY IN NAVAL MATTERS BUT ALSO WE OUGHT TO DISTRUST FANTASTIC PROJECTS WHICH WOULD PUT US INTO COLLISION WITH NATIONS WHICH ARE IMPORTANT TO OUR POSITION IN EUROPE
phonemes: wiː mˈʌst ɡˈɑːɹd ɐɡˈɛnst ɛɡzˈædʒɚɹˌeɪɾᵻd ɪkˈɑːnəmi ɪn nˈeɪvəl mˈæɾɚz, bˌʌt ˈɔːlsoʊ wiː ˈɔːt tə dɪstɹˈʌst fˈæn tˈeɪstɪk pɹˈɑːdʒɛkts wˌɪtʃ wʊd pˌʊt ˌʌs ˌɪntʊ kəlˈɪʒən wɪð nˈeɪʃənz wˌɪtʃ ɑːɹ ɪmpˈɔːɹtənt tʊ ˌaʊɚ pəzˈɪʃən ɪn jˈʊɹɹəp.