xiii INTRODUCTORY PROCEEDINGS. 
the great Cunard steamships was varied after a short time in order to diminish the 
time spentin port. It is true of all transportation, that the means of transportation 
must be utilized as fully as possible and loaded and discharged as quickly as possible 
if the best results are to be secured. Any increase in the periods during which 
the capital invested is non-productive, must prejudicially affect the net earnings. 
If high speed is to be obtained, knowing as we now do, what size of ship will secure 
practically regular passages across the Atlantic, it would appear that the best 
results will be obtained by the construction of what are called “‘express”’ steamers 
for passenger service. Time will show whether or not passengers think the advan- 
tage of a very quick traverse of the Atlantic a sufficient set-off against the other 
advantages which may be obtained in ships of less speed and greater carrying 
capacity. 
Passing to warships, I have recapitulated toward the close of my paper what 
I said last year in my ‘‘ Notes on the Armament of Battleships.’ These statements 
of mine, have been set down in quite cold blood, and I may be held fully responsible 
for them by critics. I may be wrong, but I have stated what I believed to be 
true, and I am prepared to maintain this doctrine against all comers to the best 
of my ability. 
Sir William Henry White then completed the reading of the paper as printed, 
and at its conclusion there was loud applause. 
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