"In such conditions, it seems to me that only the reckless, irresponsible or ignorant can desire that the Government of the day follow any other policy than the one we have laid down, for ourselves as a policy of peace' through strength which will neglect opportunity of breaking down suspicions and antagonisms, "and, at the same time, will build up steadily. and resolutely, with the Kelp of our friends within' and without the Empire, a strength 40 formidable as 0 maintain our rights and. liberties against any who might be rash enough! to attack them."
Mr, Chamberlain cited ngures of the growth of defence expenditure from about 114,000,000 per annum in the first five years of the Natonal Govern= ment to £580,000.000 in the coming financial year as evidence of the effective progress of Great Britain's Fearmament, The cost of rearmament, hho went on, was staggering, but they could draw one or two comforting conclusions from the huge figures Which could be sey off against. the rather discomforting process of paying the bill.
Text read from the printed page and cleaned; old type leaves the occasional error.