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Updated: May 6, 2025
Of war-tonnage, besides three superdreadnoughts purchased and four finished before the end of 1914, the British have under construction to be finished in 1915 ten battleships of from 25,500 to 27,500 tons, armed with 15-inch guns. The French have finished four of 23,000 tons, with 13 1/2-inch guns, and are finishing three more. The Russians are at work upon six of 23,000 tons, with 12-inch guns.
While the building of war-tonnage seems to be well in hand, there is no corresponding replacement of mercantile tonnage. I have the highest authority for the statement that the world possesses no machinery at the present time to manufacture war-material at the rate at which the nations of Europe have been using it during the first hundred days of the war.
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