roughly put for the immediate future at from 15 to 20 battleships of medium power, about a dozen old or small coast-defence ships, a few very moderate armoured cruisers, a dozen or so of small cruisers, and about 100 effective destroyers or torpedo-boats.
The British fleet on the immediate scene may be put at 12 or more battleships in the Channel Fleet, about as many again in the Reserve, an ample supply of cruisers and very nearly a hundred torpedo craft of one kind and another; in fine a fleet large enough with ordinary luck to defeat the Germans without aid from the Atlantic Fleet of eight very superior battleships or the Mediterranean Fleet of more battleships, cruisers, and a large torpedo force. Roughly, it may be said that the Atlantic and Mediterranean squadrons combined would form a fleet quite capable of annihilating the German fleet even were all the ships in British home waters destroyed.
This being the situation: it stands approximately that there are two British fleets, either of which is capable in the ordinary way of destroying the German Navy, so there is very little, if any, scope whatever for a German invasion after war has been declared. Though individual transports might get through the British fleet, it is impossible to suppose that enough would do so to form an effective invasion. The absolute minimum of invaders would have to be 100,000 sure of early reinforcement; and probably 200,000 might be nearer the necessary mark. If
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