NEW ZEALAND'S DREADNOUGHT.
Referring to New offer of a Dreadnought to the Homeland, the London "Daily Telegraph" says: —"The total first cG3t of a Dreadnought may be regarded as, roughly, £1,750,000, with the guns; some ships have cost less than this, but it is a fair average. In the case of a colony the sum need not be paid down at once, of course, as such a ship could not be built in the existing circumstances in England much under three years. The outlay could be met by a loan repayable in any number of annual payments. Such a ship will remain effective 20 years — the period for replacement fixed in the German Navy Act of last year. In the circumstances the cost could therefore be raised as a loan on the same principle as has been adopted in the past for British naval works. If this loan were placed at 3| per cent, the annual payment for 20 years, for interest and sinking fund, would be about £125.000. For the whole of that period such a colonial Dreadnought would remain a unit of the fleet.' If, on the other hand, it were decided to pa-/ for the vessel in ten years, then the payment would be about £215,000."
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Wairarapa Age, Volume XXXII, Issue 3187, 12 May 1909, Page 4
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209NEW ZEALAND'S DREADNOUGHT. Wairarapa Age, Volume XXXII, Issue 3187, 12 May 1909, Page 4
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