Correspondents include: James Grigg [Principal Private Secretary to the Chancellor of the Exchequer] (2); William Bridgeman [First Lord of the Admiralty] (4); Sir Oswyn Murray [Permanent Secretary, Admiralty].Also includes copy minute from WSC to Sir George Barstow [Controller of Supply Services, Treasury]; graph of planned ship building until 1929; details of cruisers, life-spans of vessels; "Distribution of foreign war vessels and aircraft" quarterly return for October 1924.Subjects include: details of the new construction programme; information on Royal Navy ships; the manning of the Fleet; comparisons with the United States and Japan, including US navy estimates.