Initially awkward in England, Nathan soon displays considerable investing talents (“This Amazing London Tower”). He falls in love with Hannah Cohen, an aristocratic English "Jewish Joan of Arc" devoted to charitable works (“I’m in Love! I’m in Love!”). He eventually wins her over by pledging to loan money to England to help win their war against Napoleon if the Chancellor of the Exchequer Herries pledges to make Germany and Austria lift their restrictions on Jews. In Germany, Prince Metternich promises roughly the same thing if the Rothschilds make the loan (“Have You Ever Seen a Prettier Congress”). In 1818, Metternich reneges on his bargain, and old Mayer dies, broken-hearted (“In My Lifetime”). His sons scheme to force Metternich to come to terms by continually undercutting his price for peace bonds, although the plan brings them to the brink of bankruptcy (“Bonds”). Metternich not only concedes but is forced to guarantee that all state bonds will be handled by the House of Rothschild. The ghetto walls are torn down, and Mayer's dream is realized.