A full consideration of the matter has brought us to
the conclusion that this would be in reality much the safest and most satisfactory formula. Under it we should know exactly where we stood without having to raise any disagreeable or unpleasant points in regard to potential enemies, and also as to geographical situations and so forth. Directly we touch such considerations we find ourselves "in endless mazes lost." Germany is the State which now has the next largest Navy to our own. Our fixed policy should be to build ships at such a rate as will ensure our having always double the naval power of Germany, or if any other Power in the future passes Germany, then double that of that Power. This will secure our sea power as far as shipbuilding programmes can secure it. May we suggest as a practical proposal that the whole question of the best formula for the standard should now be referred to the very able Sub-Committee of the Committee of Imperial Defence which is conducting the naval inquiry, and that the Government should announce whatever decision may be there arrived at as their policy P
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