which had rested many of Alberoni's hopes, was finally stopped by the
death in battle of the Swedish king. The war went on; and the czar,
seeing the exhaustion of Sweden, purposed its entire subjugation. This
destruction of the balance of power in the Baltic, making it a Russian
lake, suited neither England nor France; especially the former, whose
sea power both for peace and war depended upon the naval stores
chiefly drawn from those regions. The two western kingdoms interfered,
both by diplomacy, while England besides sent her fleet. Denmark,
which was also at war with her traditional enemy Sweden, readily
yielded; but Peter the Great chafed heavily under the implied
coercion, until at last orders were sent to the English admiral to
join his fleet to that of the Swedes and repeat in the Baltic the
history of Cape Passaro. The czar in alarm withdrew his fleet. This
happened in 1719; but Peter, though baffled, was not yet subdued. The
following year the interposition of England was repeated with greater
effect, although not in time to save the Swedish coasts from serious
injury; but the czar, recognizing the fixed purpose with which he had
to deal, and knowing from personal observation and practical
experience the efficiency of England's sea power, consented finally to
peace. The French claim much for their own diplomacy in this happy
result, and say that England supported Sweden feebly; being willing
that she should lose her provinces on the eastern shore of the Baltic
because Russia, thus brought down to the sea-shore, could more easily
open to English trade the vast resources of her interior. This may
very possibly be true, and certainty can be felt that British
interests, especially as to commerce and sea power, were looked after;
but the character of Peter the Great is the guarantee that the
argument which weighed most heavily with him was the military
efficiency of the British fleet and its ability to move up to his very
doors. By this Peace of Nystadt, August 30, 1721, Sweden abandoned
Livonia, Esthonia, and other provinces on the east side of the Baltic.
This result was inevitable; it was yearly becoming less possible for
small States to hold their own.

It can readily be understood that Spain was utterly discontented with
the terms wrung from her by the Quadruple Alliance. The twelve years
which followed are called years of peace, but the peace was very
uncertain, and fraught with elements of future wars. The