"Our exports in tons, and it is with tonnage that the Navy is concerned, equal in December and January to our exports during the same months in the previous year. But now with spring and summer at hand, there is to be expected a large normal seasonal increase in the volume of traffic by sea, and apart from any new development of enemy action, there is no reason why we should not improve upon these figures. When we consider the great number of British ships which have been withdrawn for naval service or for the trans-shipment of our armies across the Channel or across the globe, there is nothing in these results which—to put it mildly—cause despondency or alarm, or which justifies the idea that we cannot carry on our national life and the war upon which our national will is centred with increasing vigour.
"I will not make any prophecies about the future, which is doubly veiled in obscurity and the uncer-fainties of war," Mr. Churchill declared in conclusion, "But personally I shall not be content nor do I think the House should be content if we do not reach and maintain control of the sea up to the highest standards of the last war and enable the Navy once again to play a decisive part in the victory of the Allies."—Havas.
Text read from the printed page and cleaned; old type leaves the occasional error.