In these circumstances, when preparing my despatch, I had felt it necessary on the highest grounds, as well as only just to the officers and men of our battle cruisers, to give some explanation of the heavy losses incurred by our ships in the early part of the action, when we were opposing six battle cruisers (supported, though at long range, by four battleships of the “Queen Elizabeth” class, comprising the 5th Battle Squadron) to five enemy battle cruisers, which were not then supported by the German Battle Fleet. Inquiry into this matter showed that one explanation was that our ships were very inadequately protected by armour as compared with the German vessels of the battle cruiser type. It was considered undesirable to draw attention to this publicly while the war was in progress. The relative values of protection and gun power had frequently engaged my serious attention. It was also a subject of much discussion amongst writers on naval matters, some of whom went to the length of suggesting that all available weight should be put into gun power and that ships should be left practically without armour. Their views were based on the argument that “the best defense is a powerful offensive.” Although this argument is very true when applied to strategy, the War has shown its fallacy as applied to _matériel_. The loss of the _Good Hope_, _Monmouth_, _Queen Mary_, _Indefatigable_, _Invincible_, _Defence_, and _Warrior_, and the considerations to which these losses gave rise, convinced naval officers afloat, even if they did not convince others less intimately associated with the Fleet during the War, that ships with inadequate defensive qualities are no match for those which possess them to a considerably greater degree, even if the former are superior in gun power. The conviction was strengthened by the knowledge we obtained, that German ships, far more frequently hit by gunfire, torpedo, or mine than many of our ships that sank, were yet taken safely into port owing, partly, to their defensive qualities, but, partly, to the limitations of our armour-piercing shell at that time.