The American government used $3 million in gold as a down payment and issued bonds for the balance to pay France for the purchase. Earlier that year, Francis Baring and Company of London had become the U.S. government's official banking agent in London following the failure of "Bird, Savage &amp; Bird". Because of this favored position, the U.S. asked the Baring firm to handle the transaction. Francis Baring's son Alexander was in Paris at the time and helped in the negotiations. Another Baring advantage was a close relationship with Hope and Company of Amsterdam. The two banking houses worked together to facilitate and underwrite the purchase. Although the War of the Third Coalition, which brought France into a war with the United Kingdom, began before the purchase was completed, the UK allowed the deal to proceed as it was better for the neutral Americans to own the territory than the hostile French.