In the summer of 1945, Allied victory over Nazi Germany had been secured, but the conflict had left the British people exhausted and the nation financially crippled. To keep going, between 1939 and 1941 Britain had liquidated most of its overseas holdings, sacrificed most of its export trade, and borrowed to excess. The national feeling was that Britain had stood up for what was right in order to protect and safeguard the future of all humanity, while all around sat still.