In those dark, far off days,morale would or could have been broken by Nelson's column being destroyed and that was because people were more patriotic then ? So the corollary is that now, in a war, our morale would be stronger than back then, we not being affected by such an event?
And such monuments stood for the British Empire? Trafalgar was important because it stopped Britain being invaded, preventing the French from exercising sea power. That was why the Square and the Column were constructed. This island being overrun was a rather more immediate worry than Empire, and the monument is not standing as testimony to the might of it, such as it was in 1805 !
What other monuments stand, or stood, for the might of the British Empire, do you say, AOG?