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.
So Fisher lost no time in making every other navy in the world redundant. Just two years later,HMS Dreadnought was launched at Portsmouth on 10 February 1906. It had cost £1,783,883 to build. But what a ship it was.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
What made HMS Dreadnought so terrifying was its array of ten 12-inch guns, together with 24 three-inch quick firing guns, five Maxim machine guns and four torpedo tubes.
At 21 knots, HMS Dreadnought was also at least three knots faster than its nearest rival, thanks to its revolutionary steam turbine system. And even if you did manage to catch up with it, you had almost a foot of belt armour to contend with. HMS Dreadnought was built to shake off two torpedo hits.
So impressive was Britain's newest toy that it gave its name to a whole class of battleships. Either you were a dreadnought or you weren't. And if you weren't, you were a slightly embarrassing pre-dreadnought'.
The public was delighted. Winston Churchill, the Home Secretary, boasted "The Admiralty had demanded six ships, the economists offered four, and we finally compromised on eight".
But what Britain had, everybody else wanted too. It wasn't long before the other major powers were building their own dreadnoughts. By the time the First World War broke out in 1914, HMS Dreadnought was already showing its age. The once-mighty warship did sink one German submarine in 1915 but not with any of its powerful weapons. It rammed it.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
Chris Carter spent three glorious years reading English literature on the beautiful Welsh coast at Aberystwyth University. Graduating in 2005, he left for the University of York to specialise in Renaissance literature for his MA, before returning to his native Twickenham, in southwest London. He joined a Richmond-based recruitment company, where he worked with several clients, including the Queen’s bank, Coutts, as well as the super luxury, Dorchester-owned Coworth Park country house hotel, near Ascot in Berkshire.
Then, in 2011, Chris joined MoneyWeek. Initially working as part of the website production team, Chris soon rose to the lofty heights of wealth editor, overseeing MoneyWeek’s Spending It lifestyle section. Chris travels the globe in pursuit of his work, soaking up the local culture and sampling the very finest in cuisine, hotels and resorts for the magazine’s discerning readership. He also enjoys writing his fortnightly page on collectables, delving into the fascinating world of auctions and art, classic cars, coins, watches, wine and whisky investing.
You can follow Chris on Instagram.
-
M&S and Tesco among those warning of a £7bn Budget hit
Seventy-nine UK retailers have written to Chancellor Rachel Reeves about possible price rises and job cuts - here is what it means
By Chris Newlands Published
-
How much does it cost to move home under the Labour government?
Home-moving costs are rising and could get more expensive once stamp duty thresholds drop in April 2025
By Marc Shoffman Published