Every French, Dutch, and Spanish colony that now fell into our hands was in great measure the fruit of Nelson's victory, which heralded the second and vaster stage of imperial growth.
Finally, the decisive advantage which Britain now gained over Napoleon at sea compelled him, if he would realize the world-wide schemes ever closest to his heart, to adopt the method of warfare against us which he had all along contemplated as an effective alternative.

As far back as February, 1798, he pointed out that there were three ways of attacking and ruining England, either a direct invasion, or a French control of North Germany which would ruin British commerce, or an expedition to the Indies.

After Trafalgar the first of these alternatives was impossible, and the last receded for a time into the background.

The second now took the first place in his thoughts; he could only bring England to his feet and gain a world-empire by shutting out her goods from the whole of the Continent, and thus condemning her to industrial strangulation.

In a word, Trafalgar necessitated the adoption of the Continental System, which was built up by the events now to be described.
Note to the Third Edition .-- An American critic has charged me with inconsistency in saying that the Third Coalition was not built up by English gold, because I state (p.