Subjects include: cruiser requirements, function and design; the proposed 10-year replacement programme; airships; comparisons of British/Japanese cruiser and destroyer strength; the destroyer replacement programme; American cruisers; Australian cruisers; a comparison of British/Japanese submarine strength; the Singapore floating dock; the employment of submarines; mine-layers; aircraft carriers; gunboats; store ships; oil-fuel reserves; the proposals of WSC, Chancellor of the Exchequer.