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