January 10.--The South Sea Company having consented to receive the hundred thousand pounds on the new treaty with Spain in lieu of all their demands, thought they had a title to some favour with the King, and accordingly came to a resolution to address him, to be pleased to continue their Governor, and to take into his consideration the state of the Company. To this message they received an answer in general terms. They addressed again for one more particular: they were told in very harsh phrase, that the King had obtained for them from the Crown of Spain all that was possible to be obtained. This was the conclusion of the Spanish war; fomented (to overturn Sir Robert Walpole) by Lord Granville, who had neglected it for a French war; by Lord Sandwich, who made a peace that stipulated for no one of the conditions for which it was undertaken; by Pitt, who ridiculed and condemned his own orations for it, and who declared for a peace on any terms; and by the Duke of Newcastle, who betrayed all the claims of the merchants and the South Sea Company, when he had got power, to get more power by sacrificing them to the interests of Germany and the Electorate. As there never was a greater bloom of virtue and patriotism than at that period, if posterity should again see as fair a show, it will be taught to expect as little fruit. 17th.--The Parliament met. The King acquainted the Houses with the new treaties concluded with Spain for terminating our differences, and with Bavaria for securing the peace of the Empire (by the meditated election of the Archduke Joseph for King of the Romans, was understood). The Address was moved in the House of Lords by the Earl of Northumberland[22] and the Lord Archer; and in the Commons by Horace Walpole[23] (son of the late Earl of Orford) and Mr. Probyn. Lord Egmont opposed the Address, on the approbation it gave to the treaties, and the subsidies it promised to pay, and proposed leaving out many of the paragraphs. The House sat till near eight; the speakers against the Address were Mr. Henley, Mr. Bathurst, Sir John Cotton, Mr. Vyner, Mr. Martin, Mr. Doddington, Mr. Potter, and Dr. Lee; for it, Mr. W. Pitt, Mr. Pelham, Sir J. Barnard, General Oglethorpe, Horace Walpole senior, and Mr. Fox. Mr. William Pitt recanted his having seconded the famous question for the _no search_ in the last Parliament; said it was a mad and foolish motion, and that he was since grown ten years older and wiser: made a great panegyric on the Duke of Newcastle’s German Negotiations of this summer, and said he was himself so far from wishing to lessen the House of Commons, that whatever little existence he had in this country, it was owing to the House of Commons. These recantations of his former conduct were almost all he had left to make. On his first promotion he had declared against secret committees, and offered profuse incense to the manes and friends of Sir Robert Walpole. He now exploded his own conduct in