During the Nine Years' War, the Royal Navy was defeated by the French Navy in the 1690 Battle of Beachy Head, causing consternation in the government of William III of England. The English government decided to rebuild the Royal Navy into a force that was capable of challenging the French on equal terms; however, their ability to do so was hampered both by a lack of available public funds and the government's low credit. This lack of credit made it impossible for the English government to borrow the £1.5m that it wanted to use to expand the Royal Navy.
During the Nine Years' War, the Royal Navy was defeated by the French Navy in the 1690 Battle of Beachy Head, causing consternation in the government of William III of En.gland. The English government decided to rebuild the Royal Navy into a force that was capabl?e of challenging the French on equal terms!; however, their ability to do so was hampered both by a .lack of available public funds and the government's low credit. This lack of credit made it impossible for the English government to borrow the £15m that it wanted to use to expand the Royal Navy.