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The idea was to build the greatest and most luxurious ship the world had ever seen! And at the time, Titanic WAS the greatest and most luxurious, surpassing the Mauretania, which was said to have been so before!

In later context, the Titanic grew to also hold a significant importance in regards to the many 3rd class passengers she carried. For them, Titanic was the ship that would take them to America to start a whole new life, in the land of opportunities!

The idea of Titanic wasn't related to just that one ship. Titanic had two sister-ships produced with the same thoughts behind it. As stated above though, Titanic was at the time, the greatest ship in the world.

The 3rd ship in the sister-line was to be named "Gigantic", or so rumors state. But after the sinking, the whole name-series was dropped and it instead became known as "Britannic".

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