There remained, therefore, my lords, no power but the emperour to whom these provinces could be consigned; and to him, therefore, they were given, but given only in trust for the joint advantage of the whole confederacy; he, indeed, enjoys their revenues on condition that he shall support the garrisons necessary to their defence; but he cannot transfer them to any other power, or alienate them to the detriment of those nations who concurred in acquiring them.
It may not be improper, my lords, to observe, that on this contract depends the justice of our conduct with regard to the company established at Ostend for carrying on a trade to the East Indies. These provinces were granted to the confederate powers, and consigned to the emperour to be enjoyed by him for the common benefit: it was, therefore, plainly intended by this contract, that he should use none of the advantages which these new dominions afforded him, to the detriment of those powers by whose gift he enjoyed them; nor could it be supposed that the Dutch and Britons debarred each other from those opportunities of trade only to enable the emperour to rival them both.
The towns, therefore, my lords, were at this time determined by the senate to be the general property of all the confederate powers, acquired by their united arms, and to be preserved for their common advantage, as the pledge of peace, and the palladium of Europe. If, therefore, it should at any time happen, that they should be endangered either by the weakness or neglect of any one of those powers, the rest are to exert their right, and endeavour their preservation and security; nor is there any new stipulation or law necessary for this; since, with respect to the confederates, it is implied in the original stipulation, and with regard to the senate of Britain, in the approbation which was bestowed upon that contract, when it was made.