§ Now, Sir, I think one thing is. quite clear, and that is, that it is impossible, however great the prosperity of the country may be, for such increases as this—of £5,000,000 or £6,000,000 a year in our expenditure to be met by mere automatic increase of our existing taxation. Nor could they 1005 be met, for long, by any increase of existing taxes. If this rate of increase is to continue, Parliament and the country must make up their minds not only to large increases in the existing taxes, but also to the discovery of new and productive sources of revenue. I will venture to prophesy that the result of this would necessarily be a. reaction against this great expenditure, which no one would deplore more than I should, for I am convinced that the result of such a reaction would be to reduce the efficiency and the strength of our defensive services to the point at which they unhappily stool in the last generation. And therefore, Sir, I do hope—and I trust that my hope may be seconded by the efforts of Parliament and the Government of the country—that this rate of increase may not continue. Sir, I am hopeful—we ought surely all to be hopeful—that it may not continue, for it is mainly due, as we know, to increased armaments.