I am convinced that we are spending upon
the things of yesterday the money that is sorely needed for the things
of to-morrow.
With our eyes averted obstinately from the future we are backing towards
disaster.
Sec. 3
In the present armament competition there are certain considerations
that appear to be almost universally overlooked, and which tend to
modify our views profoundly of what should be done. Ultimately they will
affect our entire expenditure upon war preparation.
Expenditure upon preparation for war falls, roughly, into two classes:
there is expenditure upon things that have a diminishing value, things
that grow old-fashioned and wear out, such as fortifications, ships,
guns, and ammunition, and expenditure upon things that have a permanent
and even growing value, such as organised technical research, military
and naval experiment, and the education and increase of a highly trained
class of war experts.
I want to suggest that we are spending too much money in the former and
not enough in the latter direction We are buying enormous quantities of
stuff that will be old iron in twenty years' time, and we are starving
ourselves of that which cannot be bought or made in a hurry, and upon
which the strength of nations ultimately rests altogether; we are
failing to get and maintain a sufficiency of highly educated and
developed men inspired by a tradition of service and efficiency.
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