162 political progrefs of Britain. ^pril /^, 



" nived at the fraud. Thus, partly by the opera- 

 " tions of the company, and partly by the activity 

 " of private interlopers, almost the whole trade of 

 *' Spanifh America was ingrofsed by foreigners. 

 *' The immense commerce of the galleons, formerly 

 " the pride of Spain, and the envy of otlier nations, 

 *' sunk to nothing, and the squadron itself, reduced 

 " from fifteen thousand- to two thousand tons, serv- 

 " ed hardly any purpose, but to fetch home the royal 

 " revenue arising from the fifth on silver*." This 

 rascally conduct produced incefsant quarrels ; and, 

 on the part of Spain, these were embittered by the re- 

 tention of Ja:-aica, Minorca, and Gibraltar, in defiance 

 of every principle of justice. At last on the i^th Ja-. 

 nuary ^738, it was agreed, by a convention, that 

 Spain fliould pay to our merchants, in full of all de- 

 mands, ninety-five thousand pounds. Some farther 

 difficulties arose about the payment of this petty 

 sum ; and Walpole, himself, seems to have been al- 

 most the single person in England, who had sense 

 enough to foresee the sequel of an open rupture. 

 The whole nation were impatient for blood and plun- 

 ' der, and the minister was compelled to commence 

 hostilities. To the war with Spain, there was added, 

 in 1744, a war with France, and in 1745, a Scotch 

 rebellion. A notable scheme to recover ninety-five 

 thousand pounds I The Scotch rebels were defeated at 

 CuUodea, by the duke of Cumberland, and military 



* Robertson's history of America B. vii'i. Nobody can be sorry to 

 hear vhat Dr Robertson i< lis uf, _that, " The company itielf sus-' 

 ' ' tained a considerable Jofs by the AJsientn trade. Miny of its servants ac» 

 " -"juircd imnicDs; fortunes." Such is the natural progrffs of linavery. 



