On 10 October 1910, the monarchy was deposed and replaced by the Portuguese First Republic. The new political regime presented an ambitious naval program, that foresaw the building of three powerful dreadnought battleships, three cruisers, 12 destroyers and six submarines. Although approved by the parliament in 1912, the program comes to almost nothing, mostly due to the lack of funding. On the contrary, during the First Republic, the navy entered a period of neglect, gradually losing part of its capabilities, in a process that culminated in a situation that would be referred in the late 1920s as an almost "naval zero".