I think I entirely agree with you on the subject of Portugal; all the probabilities were, and in my opinion still are, against eventual success there. I have no faith even in the promised victory... I could not deny that such a success would be worth the sacrifices we had made for it. But a doubtful or indecisive victory, and protracted operations, I should think little less ruinous (I am not sure they would not be more so) than an immediate defeat.
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "I think I entirely agree with you on the subject of Portugal; all the probabilities were, and in my opinion still are, against eventual success there. I have no faith even in the promised victory... I could not deny that such a success would be worth the sacrifices we had made for it. But a doubtful or indecisive victory, and protracted operations, I should think little less ruinous (I am not sure they would not be more so) than an immediate defeat." in the context of "Letter to Lord Grenville (9 November 1810), quoted in Rory Muir, Britain and the Defeat of Napoleon, 1807–1815 (1996), pp. 136-137" to mean that wisdom is timeless.