MAD RACE FOR ARMS.

Dominion, Volume 3, Issue 871, 18 July 1910, Page 7

MAD RACE FOR ARMS.

CHANCELLOR'S VIEWS. WORLD'S HUGE ANNUAL BILL. NO WAY OUT. ONLY HOPE IN BETTER UNDERSTANDING. By Telegraph-Press Association-Copyright. (Hoc. July 17, u.o p.m.) London, July 16. Mr. lilo.vci-lioorge. Chancellor of the Exchequer, in speaking at. tho Lord Mayor's dinnrr to the - hankers and merchants, said the increased national expenditure was due to what Admiral Lord , Charles Jiercsford had called, the "mud, insane competition for annanients." The countries of the world were spending' £450,000,0011 annually upon machinery for destruction. "We have taken the lead," said Mr. Lloyd-George, "having to defend the greatest Empire, but if the nations continue spending - in a direction which gives tho people no assistance towards the highest civilisation then we ehall inevitably suffer." All nations were responsible for this great and growing misfortune, • and Britain could only wait until there camo an understanding among the people of the world. CERMAN NAVAL STRENGTH. Mil. ASQTJITH'S FIGURES CHALLENGED. (Rec. July 17, 5.5 p.m.) London, July 16. The "Daily Mail" publishes_ a German Admiralty statement which declares that Mr. Asquith in his recent speech had credited Germany with the acceleration of four Dreadnoughts since ■last autumn Tbis was incorrect, and the building periods of German Dreadnoughts were also longer than Mr. Asquith had stated. The correspondent adds that Germany will have eleven Dreadnoughts in April,. 1912, not thirteen. She has not five now ready for war. She will have seventeen completed at ■the end of 1913. The German newspapers express satisfaction at the friendly tone of Mr. Asquith's speech. The "Daily Mail" correspondent also adds: "There is no reason for supposing that the German Navy officials will' abandon their preposterous attempts to conceal the facts regarding the rate of construction." AUSTRIAN DREADNOUGHTS. IS THERE. A MYSTERY? (Rec. July 17, 5.5 p.m.) Vienna, July 16. The "Neue Freie Piesse" has protested against Mr. Asquith's' statements describing the Austrian Dreadnought building as a mystery. The paper states that tho Teenico Yard is constructing two Dreadnoughts, though the expenditure has not yet been guaranteed by the Government. Another two Dreadnoughts will bo laid down in 1911. AUSTRIA PLAYS HIDE AND SEEK. WARSHIPS ON . "SPEC/ , . A singular—almost farcical—attitude is being maintained for the present by the Government of Austria on the question of that country's naval aims, wiiich have been the subject of much speculation of late. Tho Finance Minister, Dr. de Bilinski, states thai lie hns "no official knowledge" of the Dreadnoughts which are being constructed by the Stabiliraento Tecnico in accordance -with plans supplied by the Naval Department. He has only recently. heard of proposals for the strengthening of the anny and navy, and has not so far taken any action in regard to them. He adds that the naval scheme will hot.be considered before 19U. The ordinary expenditure of the country now exceeds the revenue, and the Government is anxious ' for the present to avoid opposition to its contemplated additions to the navy. •Dr. Gressmann, an ex-Minister, says he. has trustworthy information that the building of the Dreadnoughts has not been undertaken on behalf of the State, but is purely a business enterprise of the Stabilimento Tecnico; and that if Austria should not be in a position to take over the ships when ready four or five other Governments will be glad to do so.! Is it possible then, that the Austrian yards are building for Germany? At Vienna it is assumed that Dr. de Bilinski is "playing a game of hide and stek"— that tho ships are really intended for the Austrian Government and no other. ''The Times" remarks that it can scarcely be supposed that the Austrian naval architects, who are ' among! the best in the world, will have -worked for the benefit of a private undertaking in the knowledge that a foreign Government may eventually purchase the fruit of their labours. "Engineering" commenting on the balance of sea-power in the Mediterranean and the command of the Adriatic, says the position there is disquieting from an indirect point of view, because Italy and ' Austria-Hungary are entering on a period of naval expansion which must, have its effect on the naval situation in the Mediterranean. The Dual Monarchy oontemplates the building of four Dreadnoughts; two of these .are already in progress, although the orders may not yet. have been placed. Our eontemporary umlerstands that the financial support for the carrying out of this work is fdund by the Berlin banks—"a state of affairs," it adds, "which is too significant to require further comment."