The rivalry between the courts of England and France for the Spanish marriages and by means of them to obtain ultimately the sovereignty of all the Netherlands, was the key to most of the diplomacy and interpalatial intrigue of the several first years of the century.  The negotiations of Cornwallis at Madrid were almost simultaneous with the schemes of Villeroy and Rosny at Paris.

A portion of the English Government, so soon as its treaty with Spain had been signed, seemed secretly determined to do as much injury to the republic as might lie in its power.  While at heart convinced that the preservation of the Netherlands was necessary for England’s safety, it was difficult for James and the greater part of his advisers to overcome their repugnance to the republic, and their jealousy of the great commercial successes which the republic had achieved.

It was perfectly plain that a continuance of the war by England and the Netherlands united would have very soon ended in the entire humiliation of Spain.  Now that peace had been made, however, it was thought possible that England might make a bargain with her late enemy for destroying the existence and dividing the territory of her late ally.  Accordingly the Spanish cabinet lost no time in propounding, under seal of secrecy, and with even more mystery than was usually employed by the most Catholic court, a scheme for the marriage of the Prince of Wales with the Infanta; the bridal pair, when arrived at proper age, to be endowed with all the Netherlands, both obedient and republican, in full sovereignty.  One thing was necessary to the carrying out of this excellent plot, the reduction of the republic into her ancient subjection to Spain before her territory could be transferred to the future Princess of Wales.

It was proposed by the Spanish Government that England should undertake this part of the job, and that King James for such service should receive an annual pension of one million ducats a year.  It was also stipulated that certain cities in the republican dominions should be pledged to him as security for the regular payment of that stipend.  Sir Charles Cornwallis, English ambassador in Spain, lent a most favourable ear to these proposals, and James eagerly sanctioned them so soon as they were secretly imparted to that monarch.  “The king here,” said Cornwallis, “hath need of the King of Great Britain’s arm.  Our king . . . hath good occasion to use the help of the King of Spain’s purse.  The assistance of England to help that nation out of that quicksand of the Low Countries, where so long they have struggled to tread themselves out, and by proof find that deeper in, will be a sovereign medicine to the malady of this estate.  The addition of a million of ducats to the revenue of our sovereign will be a good help to his estate.”

The Spanish Government had even the effrontery to offer the English envoy a reward of two hundred thousand crowns if the negotiations should prove successful.  Care was to be taken however that Great Britain, by this accession of power, both present and in prospect, should not grow too great, Spain reserving to herself certain strongholds and maritime positions in the Netherlands, for the proper security of her European and Indian commerce.