Lord Brassey, and many others got caught up by the "Moderate Dimensions" trap. The argument stems from the knowledge that in sailing naval warfare, you didn't build a fleet of 100 gun ships, you built a fleet with a few 100 gun ships and many 74 gun and 64 gun ships. Logically, they thought the same idea should hold true in navies of ships built of steel and powered by steam. The counter argument is that you will end up with small ships, simply by the passage of time, as your latest ships will dwarf those built 5 years earlier. The biggest ships are the best armed and best protected, and nothing else can stand up to them. So don't build small, more lightly armed ships, as they are a waste, and will be defeated.
I've fallen into the moderate dimensions trap, myself, in that I'm interested in a smaller battleship, built to 1921 standards, with 9-15in/45 guns and 16-5.5in/50 guns. The speed would be 24 or 25 knots with a 32,500 ton displacement. The ship would be suitable for convoy escort and operations in secondary theaters. They could still put up a credible fight against stronger ships, although they would be unable to fight the really big ships with 18in or larger guns.
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