Philip, for his part, was equally far from any thought of a crusade against England. Sir Humphrey Gilbert, commanding several companies of English volunteers, with the hardly concealed sanction of his government, was fighting against the Spaniards in Walcheren and hanging all his prisoners. Sir John Hawkins, with twenty ships, had sailed to intercept the Mexican treasure fleet. Yet Alva, though gnashing his teeth, was obliged to advise his master to swallow it all, and to be thankful if he could get Elizabeth to re-open commercial intercourse, which had been prohibited on both sides since the quarrel about the Genoese treasure. A treaty for this purpose was in fact concluded early in 1573. Thus the chief result of the Bartholomew Massacre, as far as Elizabeth was concerned, was to show how strong her position was, and that she had no need either to truckle to Catholics or let her hand be forced by Protestants. A balance of power on the Continent was what suited her, as it has generally suited this country. Let her critics say what they will, it was no business of hers to organise a Protestant league, and so drive the Catholic sovereigns to sink their mutual jealousies and combine against the common enemy. The Scotch Regent was quite ready to undertake the punishment of Mary, but only on condition that Elizabeth would send the Earl of Bedford or the Earl of Huntingdon with an army to be present at the execution and to take Edinburgh Castle. It need hardly be said that there was also a demand for money. Mar died during the negotiations, but they were continued by his successor Morton. Elizabeth was determined to give no open consent to Mary’s execution. She meant, no doubt, as soon as it should be over, to protest, as she did fifteen years afterwards, that there had been an unfortunate mistake, and to lay the blame of it on the Scotch Government and her own agents. This part of the negotiation therefore came to nothing. But money was sent to Morton, which enabled him to establish a blockade of Edinburgh Castle, and by the mediation of Elizabeth’s ambassador, the Hamiltons, Gordons, and all the other Marians except those in the Castle, accepted the very favourable terms offered them, and recognised James.