From the narrower point of view of results on the actual field of battle, it appears from the evidence at present available that, although the Germans were first to withdraw, they had the advantage in that they lost fewer ships than their opponents and less important ones. This is not admitted by the British, and it may not be true, but we have the positive assurance of the German Government that it is so, and no real evidence to the contrary. It must therefore be accepted for the present, always with remembrance of the fact that the first reports given out by the German authorities are admitted to have been understated "for military reasons." Only time can tell us whether the world has the whole truth even now. But taking the situation as it appears from the official statements on both sides the losses are as follows: BRITISH: GERMAN: _Battleships_ _Battleships_ None One _Battle Cruisers_ _Battle Cruisers_ Three One _Armored Cruisers_ _Armored Cruisers_ Three None _Light Cruisers_ _Light Cruisers_ None Four _Destroyers_ _Destroyers_ Eight Five It is certain that the British losses as here given are substantially correct. It is possible, as has been said, that the German losses are much understated. British officers and seamen claim to have actually seen several large German ships blow up, and they are probably quite honest in these claims. They may be right. But it is only necessary to picture to one's self the conditions by which all observers were surrounded while the appalling inferno of the battle was at its height to understand how hopelessly unreliable must be the testimony of participants as to what they saw and heard. Four or five 15-inch shells striking simultaneously against the armor of a battleship and exploding with a great burst of flame and smoke might well suggest to an eager and excited observer the total destruction of the ship. And an error here would be all the easier when to the confusion of battle was added the obscurity of darkness and of fog. No doubt the time will come when we shall know, if not the full truth, at least enough to justify a conclusion as to the comparative losses. Until that time comes, we may accept the view that, measured by the narrow standard of ships and lives lost, the Germans had the advantage. This may be true, and yet it may be also true that the real victory was with the British, since they may have bought with their losses, great as these were, that for which they could well afford to pay an even higher price.