ther British merchants, were all cancelled by the rupture with
Spain, and more than recompensed to the nation by a great balance of
captures during the war, as well as by the great traffic carried on with
the Spanish settlements in the West Indies, after it had been laid open
by the demolition of their fortresses. He asserted, that by this
treaty the court of Spain had made many important concessions; they
had condescended to pay a great sum to the South-Sea company; they had
consented to the re-establishment of the British trade in Spain, upon
a very advantageous and solid footing, by agreeing that the subjects
of Great Britain should pay no other duties on merchandize than those
exacted of his catholic majesty's own subjects, and to abolish all
innovations that had been introduced into the commerce. He affirmed,
that the article of No Search was a stipulation which it would have
been ridiculous to insist upon; and thought proper to obviate a
reproach which he foresaw the opposition would throw upon him, from the
circumstance of his having, upon a former occasion, heartily concurred
in a motion for an address, that no treaty of peace with Spain should
be admitted, unless such a stipulation should be first obtained as a
preliminary. He owned he had strenuously contended for such a motion,
because at that time, being very young and sanguine, he thought it right
and reasonable; but he was now ten years older, had considered matters
more coolly, and was convinced that the privilege of No Search, with
respect to British vessels sailing near the American shore, would never
be obtained, unless Spain should be brought so low as to acquiesce
in any terms we as victors might propose. He likewise signified his
conviction, that all addresses from the house of commons, during the
course of a war, for prescribing terms of peace, were in themselves
ridiculous; and that every such address was an encroachment on the
king's prerogative, which had always been attended with unlucky
consequences. How far these arguments are satisfactory, conclusive, and
consistent, we shall leave to the reader's determination. Certain it is,
they were adopted by the majority, and the address was presented without
further opposition.

The two grand committees appointed to discuss the supplies for
the ensuing year, and the funds upon which they were to be raised,
proceeded, as usual, under the direction of the ministry; yet not
without some vehement oppositi