"MAD COMPETITION."

Auckland Star, Volume XLI, Issue 168, 18 July 1910, Page 4

"MAD COMPETITION."

TKE RACE FOR ARMAMENT! MX. ASQUITH'S OVEBTUiujh GERMAN SATISFACTION,

(By Cable.-Press Associatlon.-Copyri gllt)

LONDON, July 10 Mr. Lloyd George (Chancellor 0 f L Exchequer), speaking at a dinner mv by the Lord Mayor of London to bant" and merchants, said the increased* penditure from the Treasury was % to what Lord Charles Beresford JS mad, insane competition for ai£, ments." ■wma.

r lhe countries of the world, he sail were spending £450,000,000 annually'«£■' on machinery for destruction Gre-n Britain had taken 'the lead, havW i„ defend the greatest Empire. If the-ft? tions continued expending money j n " direction which gave the people ho assist ance towards the highest civilisafW then they would inevitably suffer. '-' "All nations," said Mr. Lloyd Geoftw "are responsible for this great andVrbw. ing misfortune. We must only there comes an understanding among the people."

The "Daily Mail" publishes a German Admiralty statement, which 'declares that Mr. Asquith, in his statement in the House of Commons, credited- Germany with an acceleration of four Dreadnoughts last autumn, and that this is incorrect. The statement adds that the building periods of the German Dreadnoughts are longer than stated by Mr. Asquith. Germany, it is stated,'will.-have 11 Dreadnoughts by April, 1912, not 13 as Mr. Asquith stated. Further it v contended that Germany has not five Dreadnoughts now ready for war, and that she will have 17 completed by the end of 1913, not 21 as stated by Mr. I Asquith.

The German newspapers express satisfaction at the friendly tone of Mr:.'As-. quith's speech, but London correspondents at Berlin, telegraphing this' information, add that there is no reason for supposing that the German navy "officials will abandon their preposterous attempts : to conceal the facts regarding the rate ot construction. VIENNA, July 16. The "Nene Freie Presse" protests against Mr. Asquith describing the Austrian shipbuilding as a mystery, and states that the Stabilimento Tecnico Yards, at Trieste, are constructing two I Dreadnoughts, though tne expenditure has not yet been guaranteed, and "otter i two will be laid down in 1911.

iranTATiON or the fleet. ; FAVOURED BY REICHSTAG, ' (Beceived S aan.) BERLIN, July 17.; The leading German Socialist paper, "Vowarts," commenting on Mr. Asquith's speech, says the Government need only give the initiative to find that a majority of the Reichstag vote for limitation of naval armaments. . / AtrSTBIAJSVIFXRSX.'. '-, '(Received 8 a.m,)' ■ -.'--;, VIENNA, July 17."' It is stated in Vienna that the first Austrian Dreadnought will be ready for service in the autnirnn of 1913. ■ .