“Larry Neal provides a valuable contribution by documenting the level of involvement of international financiers in the expansion of sovereign debt financing during the Napoleonic era. He shows that these financiers were not just passive intermediaries but were active in proposing, creating, negotiating, and executing sovereign debt deals. Things did not just happen or just happen between governments. International financers were potent actors in that drama—facilitating deals between less-than-allied nations.” (Farley Grubb, Journal of Economic Literature, Vol. 63 (2), June, 2025)