The Times of Tuesday published a rather wild letter from
Lord Fisher about public expenditure. " It is inorediblo—it is uncalled for—it is ruinous waste, that the cost of the Fleet is now 140 millions a year. In 1904 it was 34 millions ! " We are all for every penny of economy, but economy is not helped by loose statements. Lord Fisher seems to forget that a con- siderable part of the Fleet is still on active service, and that money pays for only about half what it paid for before the war. " You must turn out the whole spendthrift crew," goes on Lord Fisher ; " you must be ruthless, relentless, remorseless ! Sack the lot." Does he mean the Cabinet who .frame the expensive policy or the Admiralty who only carry it out ? Finally Lord Fisher explains that half the Navy is obsolete already through the immense development of big fast ships and huge guns, and that the other half will be equally useless in a very few years because of the internal-combustion engine and oil.
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