Motto: "By value received."
I. SIMPLIFICATION AND CONSOLIDATION OF NAVAL APPROPRIATIONS WILL PROMOTE EFFICIENCY AND REDUCE THE COSTS.
The resources of the navy, as a business institution, are the citizens of the country, as partners, and that portion of the public wealth that is set aside for the maintenance of sea power. As the people are not active partners, the sole practical resource is the money voted by their representatives in Congress. This comes mainly in the form of an annual appropriation.
The officers of the navy, or other parts of the permanent personnel are not a resource by themselves; they are but a product of the great resource MONEY. Should that fount fail, the personnel would vanish, in time of peace.