Following the collapse of the Continental System and the final defeat of Napoleon in 1815, demand for English textiles increased in Continental Europe. As a result, English cotton imports surged 78% from 1815 to 1818, giving cotton speculators confidence that English industrialization, combined with a peaceful Europe, had created a permanent boost in cotton demand. With this sharp uptick in demand, cotton prices climbed from $0.20 per pound in 1815 to $0.30 per pound in most markets by 1817 and 1818.