When Princess Elizabeth was married in 1947, the queen-to-be had to plan a wedding that reflected the times.

The Second World War had just ended, and Elizabeth used ration coupons to purchase the material for her gown -- a gesture that showed she didn't want special treatment and one that helped endear her to her future subjects.

Prince William and his fiancee Kate Middleton face a similar, though perhaps less extreme, dilemma. While their wedding will be watched by millions and is sure to be the ‘it' event of the year, they must balance elegance with austerity, out of respect for the nation's post-recession financial difficulties.

At least in appearance.

Royal biographer Hugo Vickers said William and Kate are riding a tide of goodwill from Britons and others around the world. And the last thing they will want to see is a cheap wedding on April 29, when the two are married.

"I think it will appear to be somewhat scaled down, but to be honest I don't think it will be scaled back that much, and I'm only expressing a personal opinion here but I don't think it should be," Vickers told CTV.ca.

"One of the major guests attending will be the television cameras, and London will be the focal point of the world."

Even in 1947, Vickers said, Britons understood that times were tight, but they still didn't want their future queen to have to skimp on her big day.

In fact, women from across the United Kingdom even donated their ration coupons to ensure that Elizabeth could purchase the proper fabric for her dress (though she wasn't legally allowed to use the coupons in the end.)

William and Kate's wedding, Vickers said, will likely fall somewhere between the lavish elegance of Charles and Dianas' fairy tale-like event, and his grandparents' elegant but less expensive post-war nuptials.

The young couple has already made some gestures to reflect the financial challenges of the times. They've asked all guests to donate to a charity in lieu of a gift, and the majority of the cost of the wedding will be covered by their families, rather than the public purse.

Garry Toffoli, executive director of the Canadian Heritage Trust, and an author on the subject of royal history, said it's important to differentiate between elegance and extravagance.

With the British government currently saddled with huge debt as it struggles to emerge from the recession, Toffoli said it would be inappropriate for the wedding to appear extravagant.

But that doesn't mean William and Kate should sacrifice elegance.

"I'm sure the royal family will produce an event that will have all the elegance and dignity that one expects from a royal occasion, which doesn't necessarily mean being extravagant or spending a huge amount of money. I don't thing the one is dependent on the other," he said.

Toffoli predicted that some money will be saved by having a scaled-back military component. Rather than hundreds of soldiers in uniform taking part in a ceremonial guard or royal escort, there will likely be dozens.

Kate will also travel to Westminster Abbey in a car rather than the glass, horse-drawn carriage that Diana used -- "I don't know if that actually saves money but it looks like it saves money," Toffoli said.

But he agreed, the British public, more than anything, will expect a jolly good show, just like they got when Queen Elizabeth II and Prince Philip were married.

"They're not necessarily going to say ‘Oh, it's tough times, you better keep things down to a minimum,'" Toffoli said.

"In ‘47 it was tough times, but people said 'Let's have a good party, you're our royal family and we want you to do things well.'"

Vickers agreed. Much like in 1947, he said, Britons have come through some lean years, and are looking forward to celebrating a historic occasion.

"I think there would be more criticism if they didn't come up trumps on the day and give us something to remember," he said.