William Pitt the Younger King refused to support him. Fox stated the bill was necessary to save the company from bankruptcy. Pitt responded that: "Necessity was the plea for every infringement of human freedom. It was the argument of tyrants; it was the creed of slaves." The King was opposed to the bill; when it passed in the House of Commons, he secured its defeat in the House of Lords by threatening to regard anyone who voted for it as his enemy. Following the bill's failure in the Upper House, George III dismissed the coalition government and finally entrusted the premiership to William Pitt,
William Pitt the Younger years." Pitt was an expert in finance and served as Chancellor of the Exchequer. Critical to his success in confronting Napoleon was using Britain's superior economic resources. He was able to mobilize the nation's industrial and financial resources and apply them to defeating France. With a population of 16 million, Britain was barely half the size of France, which had a population of 30 million. In terms of soldiers, however, the French numerical advantage was offset by British subsidies that paid for a large proportion of the Austrian and Russian soldiers, peaking at about 450,000 in 1813. Most important, the