.Later in his speech Sir Edward Grey dealt with foreign
policy and the question of armaments. The expenditure on these was becoming one of the most serious questions in Europe. It was well known that the German Government were embarking on a very large naval programme. " I have no complaint to make of that," said Sir Edward Grey. "At the same time, if other nations increase their navies, we shall undoubtedly have to increase ours." At the present time the position, as far as the British Navy was concerned, was per- fectly safe, at any rate for a year or two more. " At the same time, if our neighbours are going largely to increase their naval expenditure, it will not be possible for us to continue reductions in ours." This expression of opinion from a man so cautious and so much the reverse of bellicose as Sir Edward rey. merits the most earnest attention of the nation.
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