The British Navy is to us a necessity and, from some points of view, the German Navy is to them more in the nature of a luxury. Our naval power involves British existence. It is existence to us; it is expansion to them. We cannot menace the peace of a single Continental hamlet, nor do we wish to do so no matter how great and supreme our Navy may become. But, on the other hand, the whole fortunes of our race and Empire, the whole treasure accumulated during so many centuries of sacrifice and achievement would perish and be swept utterly away if our naval supremacy were to be impaired. It is the British Navy which makes Great Britain a great Power.