"Therefore we are able to dispose our ships much more widely, and at the same time keep ample forces always at sea ready to engage the enemy's principal vessels should they present themselves, Upon this fact depends the whole of our sea control."
Mr, Churchill mentioned that the new warships Britain was bufldi were capable of standing up to air bombing, and were far better adapted to under-water explosions than anything they had today.
Declaring that he did not wish to raise any undue apprehensions about the strength of existing ships, Mr. Churchill announced that H.M.S. Barham, an old ship which stood up well to torpedoes, would soon be repaired and ready for sea, and that H.M.S. Nelson, a modern ship, but nevertheless fifteen years old, damaged by a magnetic mine, would soon be rejoining the fleet, "This secret, of which many thousands of people were necessarily aware, was very well kept" Mr. Churchill observed amidst laughter, "and has only just leaked out into Germany, after it has ceased to have any ' importance. Apart from the Royal Oak and Courageous, no other large ships have been damaged or sunk since the outbreak of war, during very difficult winter month:
Referring to the fact that ships, great and small, had been at sea more continuously than was ever done or dreamed of in any previous war since the introduction of steam, Mr. Churchill said since the Royal Oak was sunk they had not had the use of Scapa Flow, which was, of course, their best strategic base.
Text read from the printed page and cleaned; old type leaves the occasional error.