The launch in 1906 of HMS Dreadnought, the world's first all-big-gun battleship, rendered all existing battle fleets obsolete, but at the same time it wiped out the Royal Navy's numerical advantage, so expensively maintained for decades. Already locked in an arms race with Germany, Britain urgently needed to build an entirely new battle fleet of these larger, more complex and more costly vessels. In this she succeeded spectacularly: in little over...