10 February 1906: HMS Dreadnought is launched

Britain upped the stakes in naval warfare when it launched the era-defining HMS Dreadnought on this day in 1906 – by far the most powerful ship of its day.

As an island nation with a global maritime empire, it was vital that Britain had the best navy in the world. But it wasn't enough just to have the most ships. It also had to have the biggest. That was the thinking of Admiral Sir John Jacky' Fisher, who became the First Lord of the Sea in 1904.

Fisher could see the other great powers working hard to bolster their own navies. He suspected a fight wasn't far off. The Italians, in particular, had an eye on building bigger and better, and the United States was developing fast, as was Japan. But most alarming of all for Britain was the rise of Germany.

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Chris Carter
Wealth Editor, MoneyWeek