£58,100,000, 1 reduction' of $2,400,000 as com-
Australia and New Zealand might well throw the money they spent on defences into the sea if they could red of the support of at In the event of pared with th ut year, although provision for new construction is increased from $7,235,000 to £9,083,000.
The reduction in the total imates is due to the Admiralty economies, amounting to £5,000,000, due' to the adoption of a, settled programme of nei construction over a period. of years and the favourable aspect of the political horizon.
Text read from the printed page and cleaned; old type leaves the occasional error.