Cost of the Auxiliary Squadron I

Feilding Star, 14 November 1891, Page 4

Cost of the Auxiliary Squadron I

K^f erring to the arrival of' the B% uadrdn, an ' Australian exchange Ba ys • — << The arrangements made between the colonies and the Imperial Government is unique in^Britisb/ hißtoiy. Without in any way disparaging the British Nayy, we are justified in prizing more highly the Tflßßels which we hare ourselves paid for, and which we shall in future have to man. A naval authority has stated that the ships are but contributed to by Australians. This is not an exact definition of the transaction. The Home Government stands towards the colonial Governments as a shipbuilder commonly does to a would-be-purchaser. The .builder agrees to build and equip, if assured that the _ money he lays out will return_hima 'sufficient rate of interest. .Five per" cent per annum is, good .interest, and Australia has agreed to pay it. - This is the agreement as to the builder and the purchaser, but there is a reservation in favor 'of the former (if it is considered a 'favor) that he can have the ships back at the end of ten years, they representing tho capital invested.* Interest on the cost at the rate of 5 per cent, was agreed to as 'stated, 'but as cost might mean .'almost any sum up to the limit one? of the parties to. the agreement chose ..to go. It was agreed that 5 per . cent. , should t not exceed an annual payment of £35,000. This, as will be seen, meant that the sKipß and outfit- should not cosf more than- £700,000.- 'ButMhe cost .has grovra to ,over £900,000 in' 'consequence of the increased size of the ships from the original designs/ By the time the ships are to be handed over 1 to the British Government they will be more .or > less worn out or obsolete, and if Australia t wishes to r renew the arrangement she should order another fleet of cruisers of *the most modern type two yeais before the present J undertaking terminates, in "the year 1901. Then as to their manning and maintenance, the colonies^ bearthe 'actual* charges. That' is, it is agreed that t&ree r of the five large vessels '(the cruisers) 'are to be always in .commission, and ona* of the two smaller (the torpedo gunboats) ,* and Australia is to pay the billi In ad- ■ dition she will pay the liability involved in keeping' the other two cruisers -and the torpedo gunboat in reserve, together with the retired pay to officers, the,. pensions .to men, and the charge ,for the relief of crews — provided - that the claim does not exceed an annual payment of £91,000. In time^of emergency, or of actual war, the cost, of commissioning the three vessels kept in reserve during peace, is to be borne by the Imperial Government. Such in brief are the conditions of purchase under which the colonies receive the swiftest "and best-equipped squadron ever sent on colonial service. . , ,