OF that the laft funds of intereft fell fhort above a million, although the perfons most converfant in ways and means employed their utmost invention; fo that, of neceffity, we must be ftill more defective next campaign. But, perhaps, our allies will make up this deficiency on our fide by greater efforts on their own. Quite the contrary; both the Emperor and Holland failed this year in feveral articles; and fignified to us fome time ago, that they cannot keep up to the fame proportions in the next. We have gained a noble barrier for the lat ter, and they have nothing more to demand or defire. The Emperor, however fanguine he may now affect to appear, will, I fuppofe, be fatisfied with Naples, Sicily, Milan, and his other acquifitions, rather than engage in a long hopeless war, for the recovery of Spain, to which his allies the Dutch will neither give their affiftance, nor confent. So that, fince we have done their business, fince they have no further fervice for our arms, and we have no more money to give them; and laftly, fince we neither defire any recompence, nor expect any thanks, we ought in pity to be difmiffed, and have leave to fhift for ourselves.

They

are ripe for a peace, to enjoy and cultivate what we have conquered for them; and fo are we to recover, if poffible, the effects of their hardships upon

us.

The firft overtures from France are made to England upon fafe and honourable terms; we, who bore the burthen of the war, ought in reafon to have the greatest hare in making the peace. If we

do

do not hearken to a peace, others certainly will, and get the advantage of us there, as they have We know the Dutch have per

done in the war. petually threatened us, that they would enter into feparate measures of a peace; and, by the ftrength of that argument, as well as by other powerful motives, prevailed on those who were then at the helm, to comply with them on any terms, rather than put an end to a war, which every year brought them fuch great acceffions to their wealth and power. Whoever falls off, a peace will follow; and then we must be content with fuch conditions as our allies, out of their great concern for our fafety and intereft, will please to chufe. They have no further occafion for fighting, they have gained their point, and they now tell us it is our war; fo that, in common juftice, it ought to be our peace.

All we can propose by the desperate steps of pawning our land or malt-tax, or erecting a general excife, is only to raise a fund of intereft for running us annually four millions further in debt, without any profpect of ending the war fo well as we can do at prefent. And when we have funk the only unengaged revenues we had left, our incumbrances muft, of neceffity, remain perpetual.

We have hitherto lived upon expedients, which, in time, will certainly deftroy any conftitution, whether civil or natural; and there was no country in Chriftendom, had lefs occafion for them than

ours.

We have dieted a healthy body into a con

fumption,

fumption, by plying it with phyfick instead of food. Art will help us no longer, and, if we cannot recover by letting the remains of nature work, we muft inevitably die.

What arts have been used to poffefs the people with a ftrong delufion, that Britain muft infallibly be ruined, without the recovery of Spain to the house of Auftria? Making the fafety of a great and powerful kingdom, as ours was then, to depend upon an event, which, even after a war of miraculous fucceffes, proves impracticable. As if princes and great minifters could find no way of fettling the public tranquillity, without changing the poffeffions of kingdoms, and forcing fovereigns upon a people against their inclinations. Is there no fecurity for the island of Britain, unless a king of Spain be dethroned by the hands of his grandfather? Has the enemy no cautionary towns and fea-ports to give us for fecuring trade? Can he not deliver us poffeffion of fuch places as would put him in a worse condition, whenever he should perfidiously renew the war? The prefent king of France has but few years to live by the course of nature, and, doubtlefs, would defire to end his days in peace. Grandfathers in private families are not observed to have great influence on their grandfons; and, I believe, they have much less among princes; however, when the authority of a parent is gone, is it likely that Philip will be directed by a brother against his own intereft, and that of his fubjects? Have not thofe two realms

their separate maxims of policy, which muft operate in times of peace? These at least are probabilities; and cheaper, by fix millions a year, than recovering Spain, or continuing the war, both which feem abfolutely impoffible.

But the common queftion is, if we must now furrender Spain, what have we been fighting for all this while? The answer is ready: we have been fighting for the ruin of the public interest, and the advancement of a private. We have been fighting to raise the wealth and grandeur of a particular family; to enrich ufurers and ftock-jobbers, and to cultivate the pernicious defigns of a faction by deftroying the landed intereft. The nation begins now to think these blessings are not worth fighting for any longer, and therefore defires a peace.

But the advocates on the other fide cry out, that we might have had a better peace, than is now in agitation, above two years ago. Suppofing this to be true, I do affert, that, by parity of reafon, we must expect one juft fo much the worfe about two years hence. If thofe in power could then have given us a better peace, more is their infamy and guilt, that they did not. Why did they infift upon conditions, which they were certain would never be granted? We allow, it was in their power to have put a good end to the war, and left the nation in fome hope of recovering itself. And this is what we charge them with as anfwerable to God, their country, and pofterity; that the bleeding condition

condition of their fellow-fubjects was a feather in the balance with their private ends.

When we offer to lament the heavy debts and poverty of the nation, it is pleasant to hear fome men answer all that can be faid, by crying up the power of England, the courage of England, the inexhauftible riches of England. I have heard a [0] man very fanguine upon this fubject, with a good employment for life, and a hundred thousand . pounds in the funds, bidding us take courage, and warranting, that all would go well. This is the style of men at ease, who lay heavy burthens upon others, which they would not touch with one of their fingers. I have known fome people fuch ill computers, as to imagine the many millions in ftocks and annuities are fo much real wealth in the nation; whereas every farthing of it is entirely loft to us, fcattered in Holland, Germany, and Spain; and the landed men, who now pay the interest, muft at last pay the principal.

Fourthly, those who are against any peace without Spain, have, I doubt, been ill informed as to the low condition of France, and the mighty confequences of our fucceffes. As to the firft, it must be confeffed, that, after the battle of Ramillies, the French were fo difcouraged with their frequent loffes, and fo impatient for a peace, that their king was refolved to comply upon any reasonable terms. But when his fubjects were informed of our exor[o] The late lord Halifax.