bounded in territory, the public future of England is found almost wholly in its bank, and this edifice is entirely supported by naval commerce.

It is easy to cripple this commerce, and especially so for a power like France, which stands alone on her own riches."[90] Commercial interests played a foremost part all through the struggle.
The official correspondence of Talleyrand in 1797 proves that the Directory intended to claim the Channel Islands, the north of Newfoundland, and all our conquests in the East Indies made since 1754, besides the restitution of Gibraltar to Spain.[91] Nor did these hopes seem extravagant.

The financial crisis in London and the mutiny at the Nore seemed to betoken the exhaustion of England, while the victories of Bonaparte raised the power of France to heights never known before.

Before the victory of Duncan over the Dutch at Camperdown (October 11th, 1797), Britain seemed to have lost her naval supremacy.
The recent admission of State bankruptcy at Paris, when two-thirds of the existing liabilities were practically expunged, sharpened the desire of the Directory to compass England's ruin, an enterprise which might serve to restore French credit and would certainly engage those vehement activities of Bonaparte that could otherwise work mischief in Paris.

On his side he gladly accepted the command of the _Army of England_.
"The people of Paris do not remember anything," he said to Bourrienne.