We have dealt incidentally elsewhere with the hostility provoked by
Mr. Haldane's decision to place a large order for horseshoes in America. In our opinion, Mr. Haldane acted rightly in the matter. We are quite willing to admit that in matters of naval and military supply it does not necessarily follow that we should buy our supplies abroad when they are to be obtained more cheaply there. In such , cases the question of supply in war arises. It is obvious that our position is more secure if there are firms in this country capable of turning out cartridges, rifles, horseshoes, and all other forms of military equipment, as we can then increase our supplies on a sudden emergency, and are able to feel that there is no risk of interference owing to impediments in sea transport.