ARMY & NAVY: Third Rate''


The Director of the Budget (Herbert M. Lord) is worried because ex penditures are heavy on the National purse. The Navy Department is worried because the U. S. is falling behind in naval strength. Each is worried because of the other. The Navy Department estimated that it could not provide a good naval defense without $346 million next year. Director of the Budget Lord promptly sliced off $56 million of this amount.

"Impossible!" the Navy ejaculated. "One of our first-line ships, the Florida, is out of commission because there are no...

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