How would the United States Navy react if Britain converted five capital ships into carriers?
Short answerIt would likely convert all five Lexington-class battlecruisers, producing a large, uniform carrier class before the Second World War.
NotesGiving Britain five converted capital-ship hulls instead of the historical allowance would probably grant the United States a comparable opportunity through treaty symmetry. Every Lexington-class battlecruiser could then become an aircraft carrier, creating a five-ship class. That uniformity would give the interwar US Navy a much larger common carrier force and reshape its starting position in the Second World War.