If the rumours regarding Germany's intention to build immediately up to the strength agreed upon in the Anglo-German Naval Accord of June 18, 1935, prove to. be correct, ho great surprise need be felt. It would have been' impossible to limit the rate at which Germany would proceed to acquire the naval strength permitted under the agreement, for Ro country would willingly consent 0 the imposition of any such terms, requiring. to be able to take Such steps as might be necessary fo place it in the best posture of defence at a time most suitable to its needs, in this instance the earliest possible moment. Nor does it appear: that Germany would be trespassing against the spirit of the Accord by taking what, after all, are the most prudent precautions with Europe in the state of mind which it Is at present. Tt has been apparent through-ut the whole of last year, from the time when Germany decided to disregard the Peace Treaty limitations upon the strength of its military, naval and aerial forces, that Germany Intended to arm herself to the fullest possible extent just as quickly as she was able, That has been done not only as a matter of national pride, but in accordance with a very ealistle appreciation of the general situation "in Europe, which it is apparent is realized by other countries as well. The money to be spent in bringing British defences of all arms thoroughly up to date is but another Iindieation of the same thing. It Is no pretty picture, this one of Europe arming to the teeth again, at a time when the majority of its people are still exploring peaceful methods of preventing war, but its unpleasantness has to be faced with the philosophy that if new methods have not succeeded up to the -present, there must be a reversion to the old, until such time as sweet reasonableness or ancient tragedy bring home to the world at large that collective security still the best investment,
Text read from the printed page and cleaned; old type leaves the occasional error.