The emperour of Germany, sensible of his own interest, promoted the election with vigour and resolution, proportioned to the greatness of the danger that might have arisen from neglecting it.  By this conduct he drew upon himself the resentment of the French, who had now a pretence for taking measures which might effectually reunite them to Spain, and, as the event showed, alienate us from the emperour, and, therefore, in vindication of the claim of Stanislaus, declared war upon Germany, in conjunction with Spain.

Now, my lords, the emperour learned to set the true value upon his alliance with Britain, and all Europe had an opportunity of remarking our spirit, our power, and our vigilance.  The troops which we prevailed upon his imperial majesty to admit into Italy, were now drawn out of the garrisons against him, his dominions were attacked on each side, by formidable enemies, and his British allies looked with tranquillity and unconcern upon the difficulties into which they had betrayed him.  The liberties of Europe were endangered by a new combination of the houses of Bourbon; and Britain, the great protectress of the rights of mankind, the great arbitress of the balance of power, either neglected or feared to interpose.

Of the event of the war, my lords, I need only observe, that it added new strength to France, and contributed to such an union between her and Spain, as the most artful politician cannot hope to dissolve.

Thus, my lords, whether by negligence, ignorance, cowardice, or treachery, it is not easy to determine, we were made the instruments of the French policy.  Thus was that power enabled by our assistance to retrieve all that she had lost by the ill success of her arms, and by her indecent and contemptuous treatment of Spain.  Thus was the German emperour dispirited and weakened; thus were we deprived at once of our allies and our reputation.

Our loss of reputation, the greatest loss that bad measures can bring upon a nation, is made evident beyond controversy, by the insolence with which the Spaniards have treated us while we were flattering, enriching, and supporting them.  While we were fitting out squadrons to convey their princes to Italy, and increasing their dominions at our own expense, they seem to have considered our good offices, not as the benefits of friends, but the drudgery of slaves, and, therefore, could scarcely refrain from insults while they employed us, at least when they no longer wanted our immediate assistance.  They renewed their contempt and cruelty, their robberies and oppressions; they prescribed laws to our navigation, and laid claim to our colonies.

To these ravages and injuries what did we oppose?  What but humble intreaties, pacifick negotiations, and idle remonstrances?  Instead of asserting our just claims, and incontestable possessions, instead of preventing war by threatening it, and securing ourselves from a second injury by punishing the first, we amused ourselves with inquiries, demands, representations, and disputes, till we became the jest of that nation which it was in our power to distress, by intercepting their treasure, and to reduce to terms almost without bloodshed.