Increasing Naval Armaments.

I have given above as accurate a statement as the information at my disposal will allow, of the strength and conditions of the naval [unclear: ments] of the principal sea-powers of the world. It will be as well, however, to note again that these armaments are being regularly and persistently increased. Great Britain herself has 235,000 tons of new warhips in course of construction. France is building 180,000 tons. Germany has 120,000 tons building, but is pursuing a much more ambitious programme than even this, with a relentless, dogged pertinacity than seems to show that her fixed, unalterable resolution is to measure her strength against Britan's naval power, as soon as she finds herself in a position to do so. America, too, in spite of the Monroe doctrine, is awakening up from her long naval lethargy, and has 315,000 tons of war shipping in course of construction. Japan, fresh from the sweets of victory, has 110,000 tons in the course of actual construction, and has already formulated a much more ambitious programme than this. Lastly, Russia, even while in the throes of a ghastly revolution, and with the hour of crushing defeat black upon her, is building warships of an aggregate capacity of 130,000 tons.