Britain's Naval Commerce

Accordinff to careful and elabórate calculations which have been made recently by the admiralty in London, as well as by the principal experts on naval mattors, the gross value of British maritime interests amounts to slightly over f10,000,000,00'). These figures compnise the total value of the sea-borne commerce of the Britieh empire, as well a such foreign maritime o jmmerce as is carried in British shipa owned in England, the value of the securitles and marketable documents conveyed to and fro m British ships owned by British subjects, aftj the value of the mercantile shipping itself. In the face of these stupendous figures, the sum of f100,000,000 which the British parliament votes every year toward the maintenance of its navy.cannot be rra"led as excf ■='".