In this connection it may be well also to make some observations on the diminution by the authority of the Board of programmes of shipbuilding already approved by Parliament. The allegation that there is anything unconstitutional in the procedure may be left to the constitutional lawyer to pulverise. Probably all that is usually meant by the statement is that it is desirable to let Parliament know of the change in the programme as soon as convenient after it has been decided, and to this there would usually be no possible objection. But the idea that, because Parliament has voted a certain sum of money for the current year’s programme, and certain commitments for future years (a much more important matter), therefore the Board is bound to build ships it really does not want, is not only pernicious, but also ridiculous in the extreme. The only legitimate ground for complaint, if any, would be that the Board had misled Parliament in the first instance by overestimating the requirements. The Board are faced each summer with the necessity of saying what they expect to have to lay down 18 months later. This, of course, is prophecy. Generally it is found to be pretty accurate, but the advent of the new era in shipbuilding (which is principally due to the lessons of the only big naval war of modern times) has made prophecy more than usually difficult. Moreover, if the matter is at all in doubt, the prophet has special inducements to select the higher rather than the lower figure. Increase of a programme during a given year will involve a supplementary estimate with all its accompanying inconveniences. If on the other hand it is found that the original programme was unnecessarily extensive, it is a comparatively simple matter to cut it down. It is best of course to have the right number of new ships in the Navy Estimates; but it is next best to have a number in excess of that ultimately required, which can be pruned as requisite. Let us repeat: sufficient unto the year is the shipbuilding thereof. Panic at the present time is stupid. The Board of Admiralty is not to be frightened by paper programmes. They will cautiously do all that they judge necessary to secure the existing naval supremacy of this country: the moment that is threatened they will throw caution to the winds and outbuild our rivals at all costs. H.M. SHIPS “DREADNOUGHT” AND “INVINCIBLE.” The accompanying papers[5] contain arguments in support of the “Dreadnought” and “Invincible.” The features of these novel designs, which have been most adversely criticised, are:-- 1. The uniform Big Gun armament. 2. The great increase in speed. It is admitted that strategically speed is of very great importance. It enables the fleet or fleets possessing it to concentrate at any desired spot as quickly as possible, and it must therefore exercise an important influence on the course of a naval war, rapid concentration being one of the chief factors of success.