It has been said that that which has made England a great and an energetic nation, is the principle heretofore acted upon of maintaining a very low Peace establishment, while the Peace establishments of the continent have been uniformly high. I do not agree in that view of the subject. For my own part, I believe much of our financial embarrassment to have been caused by our former low Peace establishments, and to this circumstance the failure of many of our military operations may be traced.