"We also meet England in the desire to avoid rivalry in regard to armaments, and non-binding _pourparlers_, which have from time to time taken place, have been conducted on both sides in a friendly spirit. We have always advanced the opinion that a frank and sincere interchange of views, followed by an understanding with regard to the economic and political interests of the two countries, offers the surest means of allaying all mistrust on the subject of the relations of the Powers to each other on sea and land." The Chancellor went on to explain that this mistrust had manifested itself "not in the case of the Governments, but of public opinion." With regard, in particular, to a naval understanding between England and Germany, Chancellor von Bülow, in a Budget speech in March, 1909, declared that up to that time no proposals regarding the dimensions of the fleets or the amount of naval expenditure which could serve as a basis for an understanding had been made on the side of England, though non-binding conversations had taken place on the subject between authoritative English and German personalities. In March last year (1912) such proposals may be said to have been made in the form of a suggestion by Sir Edward Grey during the Budget debate that the ratio of 16 to 10 (i.e., 50 per cent. more and 10 per cent. over) should express the naval strength of the two countries. The suggestion was "welcomed" by Admiral von Tirpitz on behalf of Germany in February, 1913. And there the matter rests.