In the terms of this reconciliation, my lords, it is charged upon the ministry, that they were guilty of contributing to the power of the house of Bourbon, by stipulating that Spain, instead of neutral troops, should be introduced into Italy.  That those troops were less agreeable to the emperour cannot be denied, but it has already been shown how little reason we had to consult his satisfaction; and with regard to the advantages gained by the French and Spaniards in the late war, a very small part of them can be ascribed to six thousand troops.

With as little reason, my lords, is the charge advanced of neglecting to preserve the balance of Europe, by declining to assist the emperour against the French; for the intention of the war seems to have been rather revenge than conquest, and the emperour rather exchanged than lost his dominions.

That we declined engaging too far in the affairs of the continent, proceeded, my lords, from a regard to the trade of the nation, which is not only suspended and interrupted during the time of war, but often thrown into another channel, out of which it is the business of many years to recover it.

Nor have the ministry, my lords, deviated from their regard to trade, in their transactions with Spain, which have been the subject of so much clamour, and such pathetick declamations; they always knew what the nation now feels, that the merchants would suffer much more from a war than from piracies and depredations, which, however, they were far from submitting to, and for which they constantly made demands of satisfaction.  To these demands they received such answers, as, if they had been sincere, would have left the nation no room to complain; but when it was discovered that nothing but verbal satisfaction was to be expected, the security of our trade, and the honour of our country, demanded that war should be declared.

The conduct of the war, my lords, has been frequently the subject of censure; we are told of the inactivity of one fleet, and the imperfect equipment of another, the escape of our enemies, and the interception of our trading ships.  War, my lords, is confessed to be uncertain, and ill success is not always the consequence of bad measures:  naval wars are by the nature of the element on which they are to be conducted, more uncertain than any other; so that, though it cannot but be suspected that the common people will murmur at any disappointment, call every misfortune a crime, and think themselves betrayed by the ministry, if Spain is not reduced in a single summer, it might be reasonably hoped, that men enlightened by a long familiarity with the accounts of past, and instructed by personal experience in national transactions, will produce stronger arguments than want of success, when they charge the ministry with misconduct in war.