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inhabitants; in her immense coal and ironfields; in her numerous navigable rivers; in her many fine harbours; in her great fishing industry, which, whilst giving employment to thousands and food to millions of her people, provides skilled and hardy sailors for her national and mercantile marine; strong in her splendid dockyards, in which, thanks to Free Trade, she builds more quickly and cheaply than all other States, with the natural consequence that she builds not only for herself but for the world. In her private dockyards, foreign men-of-war are always on the stocks, ships which on the breaking out of hostilities would go, at once, to swell the British Navy; in her public dockyards, Dreadnoughts and cruisers, destroyers and submarines, are ever under construction or repair; and well-stocked arsenals, in positions carefully selected and fortified against attack from the sea, stand ready to equip and