"In the details of the policy and the measures by which our naval power is now brought down to the dimensions and distributed top the important operations of peace establishment, the country will see with relief and gratitude a large and signal reduction of the national expenditure. I need hardly to say that this great object is kept constantly and carefully in view by this department.
""Such alleviations of the public burdens is the plain dictate of a wise policy. Yet true wisdom directs that this policy of retrenchment in the naval branch of the public service must not be carried too far.
"It is still wise--the wisest--economy to cherish the navy, to husband its resources, to invite new supplies of youthful courage and skill to its service, to be amply supplied with all needful facilities and preparations for efficiency, and thus to hold within prompt and easy reach its vast and salutary power for the national defence and self-vindication."