The naval officers and experts are all crying out against the folly of the Government engaging in the manufacture of armor-plate.
The board of naval officers appointed to look into the subject stated, in their report to the Government, that if such a factory is to be maintained, Congress must order the building of three new battleships every year.
The reason they give for this is that specially trained workmen are required to operate an armor-plate factory. They think it would be necessary to provide sufficient work every year to keep the factory going. If the factory were to be shut down and the hands discharged, the naval officers declare that the time and money that would have to be spent in training fresh men to undertake the work then would cost the country more than keeping the works open right along.
The Carnegie and Bethlehem people have succeeded in getting the Government to test one of their plates made by the new Krupp process.
The result of the trial, it is expected, will decide whether the Government shall buy its armor-plate as of old, or enter into the manufacture itself.
If the Krupp process is satisfactory, armor-plates will not have to be made so thick, and the smaller quantity of steel in them will perhaps make them cheaper and enable the Government and the manufacturers to agree upon a price that will be satisfactory to both.
The Secretary of the Treasury has handed in the Currency report mentioned by the President in his Message.
It proves to be very dry reading for all but men interested in the money market, and would not interest you at all.
He suggests a plan, which is supposed to be a very wise one, for removing all uncertainty about the soundness of our money. It is, however, thought that the plan cannot be put into effect at present.