Mr. Baldwin can hardly have promised naval economieg so widespread
and certain in operation without meaning that some of the unnecessary dockyards are to be scrapped. This is all to the good. But in spite of the fact that most Unionist critics seem to have been satisfied- by the moderation of the Naval programme—see the article from our Parliamentary Correspondent—we remain of; the opinion that the policy of new construction is itself unnecessary. It would be much better to spend the next few years in restoring our shattered wealth, for that ig our greatest ultimate defence, at the same time working for disarmament and arbitration. It will be time to pour out money on ships if and when we are, convinced that no other means of defence will serve. At present we have no enemy and we are not even sure what type of ship, if any ship, will command the seas in future. In the House of Commons debate on Wed- nesday Mr. Churchill explained that replacement was' necessary as the Navy was worn out. But we imagine that existing cruisers are still quite capable of" policing" the trade routes.
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