Fellows Of The Royal Society Of Literature

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April 10, 2026

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"In 1937, the best trading year for Britain between the world wars, the volume of her visible exports amounted to only two-thirds of the 1913 figure. The British share of world trade in manufactures fell from nearly 24 per cent in 1921–5 to 18.6 per cent in 1936–8, whereas Germany's share actually rose from 17.4 per cent to 19.8 per cent, and Japan's from 3.4 per cent to 7 per cent. As a consequence of this slow defeat and retreat in world markets for manufactures Britain was compelled to look more and more to her invisible exports (banking, insurance and shipping services, plus the income from the vast overseas investments built up during the Victorian age) in order to pay for the imports essential to the nation's life and work. Even at the height of her nineteenth-century dominance as a manufacturing country Britain had relied on such invisible exports to keep her balance of payments in equilibrium – indeed to enable her to earn the surpluses to invest overseas. But the percentage of imports that had to be covered by invisible earnings rose from 19.2 per cent in 1870–4 to 44.4 per cent in 1935–9. Even so, Britain by these latter years was incurring an overall balance of payments deficit. Like some ageing industrialist who finds that the shrunken profits from the family firm are no longer enough to pay for his accustomed way of life, Britain had to resort to spending capital. In other words, in the run-up to the Second World War Britain was gradually selling off her foreign investments and using up her gold reserves."

- Correlli Barnett

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"How then was the Admiralty to find a fleet for Singapore, as had been repeatedly promised (though with waning conviction) to Australia and New Zealand before and since the outbreak of war with Germany and Italy? It went far deeper than a mere question of naval strategy and deployment. As Sir Samuel Hoare, the then First Lord of the Admiralty, had remarked to the 1937 Imperial Conference, "the very existence of the British Commonwealth as now constituted" rested on the ability of Britain to send a battlefleet to Singapore. But this in turn posed an even more profound question about Britain's very own existence as the centre of this oceanic empire, the immediate practical implications of which were so starkly confronting her leaders in the summer and autumn of 1941. For in retrospect it can be seen that it was an illusion for the British to believe that the Commonwealth and the Empire made Britain a great world power. Rather the strategic and economic balance sheet in 1941 demonstrates that the Commonwealth and Empire (with the notable exception of Canada and perhaps South Africa) were not an asset, but a net drain on Britain's strength; a predicament. For the imperial pink splashed across the map of the world in British atlases did not represent strength, as the British romantically believed, but one of the most outstanding examples of strategic overstretch in history."

- Correlli Barnett

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"Two things caused the decadence of British maritime power: the long peaceful supremacy after Trafalgar and the capture of the navy by that hierarchy of birth and class that controlled so many of Britain's national institutions. Drawing most of its officers from 1 per cent of the nation, the Royal Navy never tapped that great reservoir of urban middle-class talent that made Scheer's fleet so well-educated and so intelligent... The navy reflected social rather than functional values, preoccupation with tradition rather than technology... It was a tragedy for Britain that the aristocracy and gentry had never been cut off from the national life, as had largely happened in France... [T]he social and intellectual values of industrial society never ousted those of the aristocracy. The richer Victorian England became, the more ashamed in a deep sense did she become of the technological origin of those riches. The engineer and the businessman have never been as "respectable" in Britain as in Germany or America... [I]n the world after 1870, when Britain faced the technical challenges of the more complex phase of the industrial revolution and the commercial challenge of foreign competition, the leadership of the country was in the hands of the social group least likely (because of its wealth and privilege) to be aware of the challenges and to respond to them. From 1870 to 1914 Britain was decadent because a decadent ruling social group and decadent (non-functional) values had captured or corrupted the forces of technological and social change."

- Correlli Barnett

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