London vid Bombay, 22nd March.
In the House of Lords, Viscount Goschen justified the vast increase in the naval expenditure of the last san hat she would not dis world, He Po not think that the|Ctsncellor furthermore referred to the years by. the, changes to lias cad sights cgued bye tne fact that both the French Republicans loss of five Russian battleships justified the decrease made in the British programme.
The Earl of Selborne (late First Lord of the Admiralty) referred to the great changes which had taken place in the naval position of the world, Russia, he said, had become a naval power; France retained her building and her efficiency; America and Germany had evolved navies of equal strength and efficiency; Italy stood still; England merely recognise ed these facts. He did not advocate the three-Power standard because he thought England was unable to afford it; stability of finances was as necessary as an efficient navy, and the one must be balanced against the other.—Reyter.
Text read from the printed page and cleaned; old type leaves the occasional error.