Now it might be expected, my lords, that, at least, those who were before dissatisfied, should declare their approbation; for surely where peace or neutrality is improper, there is nothing left but war.  Yet experience shows us, that men resolved to blame will never want pretences for venting their malignity; and where nothing but malignity is the consequence of opposite measures, we must necessarily conclude, that there is a fixed resolution to blame, and that all vindications will be ineffectual.

Some have, indeed, found out a middle course between censure and approbation, and declare, that they think these measures now justifiable, because we have proceeded too far to retreat with honour; and that though at first a better scheme might have been formed, yet this, which has hitherto been pursued, ought not now to be changed.

I, my lords, though it is not of very great importance to confute an opinion by which the measures of the government will not be obstructed, cannot forbear to declare myself of different sentiments, and to assert, in opposition to artful calumnies and violent invectives, that the present measures were originally right, that they were such as prudence would dictate, and experience approve, and such as we ought again to take, if we have again the power of choice.

I am, indeed, far from doubting, but these measures will, in a short time, be justified by success; a criterion by which, however unjustly, the greatest part of mankind will always judge of the conduct of their governours; for it is apparent, my lords, that howsoever the French power, commerce, and wealth, have been exaggerated by those that either love or fear them, they will not long be able to stand against us; their funds will in a short time fail them, and their armies must be disbanded, when they can no longer be paid, lest, instead of protecting their country, they should be inclined to plunder it.

The abundance of our wealth, my lords, and the profit of our commerce, are sufficiently apparent from the price of our stocks, which were never before supported at the same height for so long a time; and of the fall of which neither an actual war with Spain, nor the danger which has been suggested of another with France, with France in the full possession of all its boasted advantages, has yet been able to produce any token.  Another proof of the exuberance of our riches, and the prosperity of our commerce, by which they are acquired, is the facility with which the government can raise in an instant the greatest sums, and the low interest at which they are obtained.  If we compare our state in this respect with that of France, the insuperable difficulties under which they must contend with us, will sufficiently discover themselves.  It is well known, my lords, that we have lately raised the money which the service of each year required, at the interest of three for a hundred; nor is it likely that there will be any necessity