Now that the Estimates of all the Fighting Services have
been published, it is seen that the saving ove the Estimates of last year Is less than one and a half millions. In our judgment this is not enough, though, of course, it has to be remembered that as a result of the War there is now a third Fighting Service– tl Air Force. Comparison with the Estimates before t War is illusory. It is scarcely an exaggeration to sal that the Air Force has become our first line of defence and we would gladly see considerably more spent upon it if considerably less could be spent upon the Nave So far as one can look ahead, there is no prospect o another great war, and we grudge expenditure upol ships which will probably be obsolete before they a required. This is not to say that we need not keep a Navy fully equipped for the policing of the Empire The point is that for that work cruisers smaller that some of those which have been laid down would I) large enough. * * * *
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