THE NAVY.

Dominion, Volume 5, Issue 1389, 15 March 1912, Page 5

THE NAVY.

'• DOMINIONS' BATTLE-CRUISERS. ; GIFT-SHIP HERE EARLY IN 1913. London, March 13. ' An Admiralty minute states that on April 1 next ten battleships and six battleship cruisers will bo under construc- ; tion, including the Australia and New ' Zealand. There will also be under construction [' oight protected cruisers (including two i Australian vessels), two unarmonred crui- ■ sers, thirty-one destroyers, and fifteen submarines (including two for Anstra- ' lia). The battleships laid down in 1911 arc to be called the Iron Duke, Marlborough, i Delhi, and Benbow. : The minute gives details of the launching of tho battle-cruisers New Zealand L and Australia, and of the building of . other Australian vessels. Though the i scope of Admiral Sir Reginald Hender- ' son's report on Australian defences is , such that no immediate decision may be expected oii many points, arrangements i for tho maintenance of certain ships in i New Zealand, consequent on the initiation | of an Australian'fleet, are now in progress. 1 The cruiser battleship New Zealand , will probably visit the Dominion early ■ in 1913. The development of the Canadian [ naval policy is uncertain, but the Ad- . miralty will earnestly co-operate in any • scheme enabling Canada to take a real i effective part in the Empire's naval dc- ! fence. LIBERAL PRESS CRITICAL. > FINANCIAL DISASTER PREDICTED, i ' London, March 13. Unionist newspapers approve the Navy Estimates. , The "Daily Chronicle" (Liberal) thinks tho programme cannot be regarded as excessive. The "Daily News" (Liberal) says the Estimates are rather worse than >tho most pessimistic forecasted. Until two years ago only a handful of scatterbrained' individuals clamoured "for -two keels to one. "Mr. Churchill's Estimates," continues the "News," "represent financial disaster." The "Morning Leader" (Liberal) says: "The Estimates aro a very grave disappointment." "The Times" likes the armoured cruisers innovation. Tho armour, it remarks, is intended for the cruisers to withstand fire from vessels of their own class, and will bo suitable for cruisers attacking merchant vessels commissioned aa warships. ARMOUR-PLATE MANUFACTURE,' A RING ALLEGED. London, March 13. Mr. Winston Church, First Lord of the Admiralty, is inquiring regarding an alleged ring of armour-plate manufacturers. SYNDICATES FOR WAR. AMERICAN VIEW OF THE SITUATION. The intention of Mr. Churchill to inquire into tho alleged existence of a ring of armour-plate manufacturers recalls n dispatch from its London correspondent published last year by the New York "Evening Post." Writing of the outcry in different quarters against the burden of armaments, the correspondent referred to the allegations in the Radical press as to the pressure of the big cnginering concerns in favour of expenditure on war material. No doubt similar agitation may have led to Mr. Churchill's actionJ What ever the actual merits of tho caso may be, the correspondent's remarks are interesting. He said:— "In yet another way do war and ; preparations for war drag us deeper into the mire, and, instead of lightening our burdens, and giving us security, increase our burthens while at the same time making our outlook blacker than it would otherwise havo been. I refer (o the evil influence exercised over communities by tho creation of great and heavily capitalised artillery, shipbuilding, and innumerable other factories which modern war requires. By reason of their great wealth alone these institutions are a menace, for they are apt to employ that great wealth in encouraging war scares. Even if all of them do not go so fnr as that, they are all inclined to appeal, to us ou patriotic motives. "To give some idea of these powerful interests, the 'Morning Leader' publishes a table showing the issued share and debenture capital of six of the principal armament companies taken from tlicir respective balance-sheets as at the end of 1909:Issued Debenshare ' turo Capital. Capital. ■ ' £ £ Vickers, Sons, and Maxim , 5,200,000 2,956,200 Cammell, Laird nnd Co 2,372,895 1,728,511 Armstrong, Whitworth and Co 4,210,000 2,500,000 Win. Beardmore and Co 2,000,000 1,710,621 John Brown and Co. 3,218,500 1,018,292 Thames Ironworks' Co 600,000 201,011 Total 17,601,395 10,180,468 INTERESTED SHAREHOLDERS. "This list dor* not by any means exhaust the number of companies interested in the production of engines of war, or represent the total capital invested in plant and machinery for that purpose. Hut the other concerns are largely employed in building ships for the mercantile marine, so that.it is impossible fo arrive at. the total. The importance of these figures is evident. The country has encouraged private concerns tn expend these sums so ' that thev mav be productive of profits year by year for the benefit of their shareholders." Any restriction in the building of armaments citlu-r by the home or foreign Governments has disastrous results upon the year's profits. "It. requires no stretch of-the imagination to see thai the enormous number of investors in every class of sncielv scattered throughout the country exert n subtle influence in favour' of the expansion of armaments. The numbers .ire not of -so much consequence ns the nu.ilitv. Two years ago the lists of shareholders of three

companies wero scrutinised bv tho 'Investor's Review,' which printed tho names of the most distinguished nnd influential of tho shareholders. The following table classifies tho social position of those on that list; h .j3 -3 g-£ ''" 3 - • £? ,■ Duke i 1 - Marquess - — — Ear], baron, or wife, son, or daughter of SO 10 III) llaronet l."> ■> i:> Ivuight 5 "> 'JO M.l' II ■> X .I.l' 7 !) :l K.c - - r> Military or naval officer 21 2 20 Naval architect or Government contractor 2 — —. Financier 3 — 1 Journalist (including newspaper proprietors) G 8 8 AN INSTANCE. "The financial position of these concerns nnd the social consequences of lacking orders was brought home three years ago in a leltcraddressed to the late "Lord Twcedmouth by tho chairman of Cammell, Laird and Co. At that time the company had been struck oft' the Admiralty lists of contractors. The whole argument of tin) appeal for restitution was that the total of the company's issued share and debenture capital amounted to four millions sterling, that the number of employees in tho works directly owned by the company comprised over 15,000, and tlyit tho penalty would mean hardship. This extensive plant for naval armaments must be fed each year with orders. The Government having acquiesced in tho laying down of plant and machinery is therefore forced by all tho subtle influences at work to provide fresh naval programmes. .... "Tho reports of the various companies and the speeches by their chairman make it perfectly clear that they aro dependent upon naval expansion for tlicir prosperity. The following extract, frank and unblushing, is from a speech by Sir Charles D. M'Lareu at the meeting of tho shareholders of John Brown and Co., Limited, in July, 1905: " 'The appointment of Sir John Fisher at the Admiralty is a fact of somo importance to a firm like theirs, and he was glad to seo that Sir John was prepared to go in for building battleships, because the heavier the work the more of it went to their firm. They were makers of ar-mour-plate, largo marine shafting, and turbine engines, so that when heavy work was about they would get a share of it.'" "Needless to sny this was greeted with applause."