The high level of the Napoleonic military and financial threat concentrated the minds of different interests in Britain, ensuring broad cooperation. This enabled the government to tax the rich without serious resistance, thus furnishing the basis of war finance. Loans came from the City of London, which worked closely with the government. Contracts with contractors were generally well administered. Naval superiority enabled convoys to protect and maintain trade, and particularly to obtain specie from Mexico, much needed by Wellington’s armies in the Peninsula as well as for subsidies for continental powers. For the last two years of the war, the government had to deploy the talent and energy of Nathan Meyer Rothschild to ensure that the British army on the continent was paid. Despite periods of extreme political stress, financial confidence was never broken. Parts of industry thrived, trade flourished, infrastructure investment continued. The British economy finished the war in a healthy state, although the economic impact of financing the war had very long-term political effects.

By comparison with the continental powers, Britain had no more than a medium-sized army, but the largest navy in Europe.  This chapter seeks to explore the bases of Britain’s naval strength, going back to the seventeenth-century Navigation Acts, and then to consider how that strength was deployed in the war against Napoleon.  It argues that the Royal Navy, despite the limited impact it might be thought that it could have on land warfare, played an important part in the final defeat of Napoleon.