Modern Naval Strategy, published in 1940, compares battleships by launch date, displacement, length, armament, speed, and cost. Its table begins with Victory at 2,164 tons and £100,000, then follows the growth of steam battleships through Alexandra, Camperdown, Lord Nelson, Dreadnought, and Nelson. Lord Nelson appears at 16,500 tons and £1.6 million, while Dreadnought is listed at 17,900 tons and £1.8 million. Nelson reaches 33,950 tons and £7.5 million, with nine sixteen-inch guns. The authors use the table to show that displacement roughly doubled after 1906 while cost increased much faster. Heavier guns and larger ships therefore brought a substantial increase in the financial burden of a battle fleet.
Chapter · 33:39-37:37
Modern Naval Strategy charts the battleship cost spiral
A comparison of Victory, Alexandra, Camperdown, Lord Nelson, Dreadnought, and Nelson shows battleship costs rising faster than displacement.