That nation, my lords, is in a very unhappy state, which is reduced to admit such terms as mediators are pleased to prescribe. We durst not refuse the introduction of Spanish troops, nor durst we introduce them without the emperour of Germany's consent, which, however, he granted at an easy rate, for he demanded only that we should become guarantees of the Pragmatick sanction. This we gladly agreed to, and thought ourselves so happy in purchasing, so cheaply, an opportunity of ingratiating ourselves with Spain, that we desired no other recompense. This treaty with the emperour of Germany, was, however, by no means improper, nor could we, after the errours which had been committed, do any thing more effectual to preserve the balance of Europe, and reestablish our credit. But, my lords, this only treaty, which it was for our interest to make, seems to have been made without any intention of observing it; for about this time all the northern powers were alarmed by the approaching election of Poland, and every nation that had any thing either to hope or fear from the event of it, endeavoured to influence it. How this election was determined, my lords, and by what means, it is unnecessary to relate; but it may not be improper to remark, that whatever cause we may have to congratulate ourselves upon the choice, it does not appear that we had any part in promoting it. Nay, as it is not common for ministers to keep the best part of their conduct secret, there is reason for suspecting that they were not altogether without foundation reported to have favoured France. 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.