By it she controlled the great commerce of the open sea with a military shipping that had no rival, and in the exhausted condition of the other nations could have none; and that shipping was now securely based on strong positions in all the disputed quarters of the world.
Although her Indian empire was not yet begun, the vast superiority of her navy would enable her to control the communications of other nations with those rich and distant regions, and to assert her will in any disputes arising among the trading-stations of the different nationalities.

The commerce which had sustained her in prosperity, and her allies in military efficiency, during the war, though checked and harassed by the enemy's cruisers (to which she could pay only partial attention amid the many claims upon her), started with a bound into new life when the war was over.

All over the world, exhausted by their share of the common suffering, people were longing for the return of prosperity and peaceful commerce; and there was no country ready as England was in wealth, capital, and shipping to forward and reap the advantages of every enterprise by which the interchange of commodities was promoted, either by lawful or unlawful means.

In the War of the Spanish Succession, by her own wise management and through the exhaustion of other nations, not only her navy but her trade was steadily built up; and indeed, in that dangerous condition of the seas, traversed by some of the most reckless and restless cruisers France ever sent out, the efficiency of the navy meant safer voyages, and so more employment for the merchant-ships.

The British merchant-ships, being better protected than those of the Dutch, gained the reputation of being far safer carriers, and the carrying-trade naturally passed more and more into their hands; while the habit of employing them in preference, once established, was likely to continue.
"Taking all things together," says an historian of the British navy, "I doubt whether the credit of the English nation ever stood higher than at this period, or the spirit of the people higher.