Warships like the brand new King Edward VII were rendered almost worthless. Nations had no choice but to spend this money, as their existing fleets of warships were severely inferior to His Majesties’ Ship (HMS) Dreadnought: “The emergence of HMS Dreadnought meant that all existing battleships became obsolete. Overall, Britain’s battle fleet of dreadnoughts at the start of the war cost £1,494,667,438 in modern terms.
When you take this amount and multiply it by the numbers of dreadnoughts each nation had, it is easy to see why so few dreadnoughts were made. Dreadnoughts cost a massive amount of money to build, fit out, and maintain: “HMS Dreadnought was commissioned with a final cost of £1,783,833 (2011 Figure).” Konstam, Naval Miscellany, (2012) p. In 1914, there were not many dreadnoughts in existence, due to dreadnoughts being too expensive for any nation to make them quickly in large numbers this resulted in dreadnoughts not affecting the outcome of the First World War.
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