The result has been, not a reasonable policy, but a succession of unreasonable compromises between the aims of the extremists on both sides.
Great Britain, on the other hand, has always regarded the navy question as one of the most difficult and important before the country, and has adopted, and for centuries has maintained, a definite naval policy.

This does not mean that she has followed a rigid naval policy; for a naval policy, to be efficient, must be able to accommodate itself quickly to rapid changes in international situations, and to meet sudden dangers from even unexpected quarters--as the comparatively recent experience of Great Britain shows.

At the beginning of this century the British navy was at the height of its splendor and self-confidence.

Britannia ruled the waves, and Britannia's ships and squadrons enforced Britannia's policies in every sea.

The next most powerful navy was that of France; but it was not nearly so large, and seemed to be no more efficient, in proportion to its size.