Rome, Mar. 5.
The Naval Estimates for the 1938- }39 Budget total 2,013,000,000 lire, re-
Presenting an increase of 155,000,000 live compared with the figure for the current year. to postpone the decision for a Few weeks, but its stated in wells informed circles that the U, 8, A, is determined to invoke ininedintely Uh escalator elatwse, no. only for the purpose of building larger capital ships, but also cruisers beyond Treaty imitations, would wear that the tonnage of the nav! of the world will depend on whether or not the ari= ments of Great Britain will prove convincing to the U, 8, A—Havas, The report accompanying the Estimates states that the ships in the course of construction on January 1 fare two 35,000-ton battleships, twelve destroyers, sixteen torpedo boats, five sloops and 22. submarines.
In addition, the 1988 building programme authorises the construction of two more 25, l00-ton battleships, twelve large destroyers and a not able number of submarines.
The report odds that owing w the tendencies shown by the great naval Powers there could be no question of slowing down construction, naval armament race, it points out, is in progress despite existing treaties and conventions. Italy participating in this intensified rearmament in so far as she judges it recesary to defend her vital inter= ests The report shows that cruisers are being built or
Text read from the printed page and cleaned; old type leaves the occasional error.