I T is not necessary for me to tell you why we need a firstclass Royal Navy, because we've known for many generations past that our very existence as anation depends upon the efficiency of our warships and the men· who man them. But do we need a large and efficient merchant navy? Surely, the various unaccustomed things we do, and do without in this war, in order to save shipping-space, must have taught thc most obstinate lalldsman amongst us our dependence upon ships, ships, and still more ships. A large merchant navy is vital to our existence and the Royal Navy is the policeman who sees that the ships of our mercantile marine can pursue unmolested their lawful business upon all the seven seas.