In comparing our naval force with that of Germany, Mr.
Lee declared that in his opinion the end of 1911 was not the period of extreme significance. That period would be early in 1912. How should we stand at that date ? Germany would have seventeen vessels of the Dreadnought' type completed by the autumn of 1912. If we Were even to equal Germany in vessels of the 'Dreadnought' class in 1912, it would be necessary that next year's Programme of capital ships should comprise at least five vessels of this type. We were only providing for a one-Power standard as regarded these vessels. His belief was that a two-Power standard was best interpreted as a double one-Power standard. We ought to lay down two capital ships for every one possessed by our chief naval rival, whoever she might be. Dealing with torpedo craft, Mr. Lee declared that though we had an imposing strength on paper, not more than fifty per cent. at the outside were really capable of continuous service under war conditions in the North Sea.
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