A 45,000-ton Washington capital-ship limit

Who would struggle most under a Washington treaty allowing 45,000-ton capital ships at a 20:20:14:8:8 ratio?

France would probably fare worst because of government funding, while Italy could finish Caracciolo and the United States would gain the largest industrial advantage.

A twenty-twenty-four-eight-eight allocation of 45,000-ton ships gives Britain and especially the United States immense aggregate tonnage. America gains from both industrial capacity and the ability to complete existing hulls within a 900,000-ton allowance. Italy could improve its numerical position by finishing Francesco Caracciolo, which had already been launched. France would suffer more because government funding and political commitment, rather than design competence, constrained construction. The scenario also illustrates Britain's treaty strategy of granting America equality on paper while expecting Congress not to fund full equality in practice.