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100 Mr. Mill—"We have given up our main defence. Unless by resuming our natural and indispensable weapon we shall be burdened with these enormous establishments and onerous budgets for a permanency; and in spite of it all we shall be for ever in danger, for ever in alarm, cowed before any Power capable of invading any part of our widely spread possessions."

And now for the reason of the thing In the first place it is evident, and acknowledged on all sides, that the very first consequence to this country of a war in which it shall be engaged will be the absolute destruction of its carrying trade, and that the mere rumour of war will tend in the same direction. Mr. Beazley, a large shipowner, pointed out to a committee of the House of Commons, charged with examining into questions concerning the merchant service, that on the mere apprehension of war between England and France in 1859, second class American vessels were