Phe French Naval Budget for 1904 calls for a sum of 3124 million franes (£12,500,000).
"The reporter of the Budget, in comparing the naval strength of! France and Great Britain, says that whereas the proportion of their naval forces in 1898 was France two to Great Britain three, the proportion now is France two to Great Britain four; and he believes that Great Britain in 1907 will posse s twice as many fast cruisers as France—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.