THREE:Defeated in this object, the Patriots united all their force to embroil us with Spain. There were many causes in our commercial relations with Spain which led to violent discontent amongst our merchants. They found the trade with the Spanish settlements in America exceedingly profitable, but they had no right, beyond a very limited extent, to trade there. The Spaniards, though they winked at many encroachments, repressed others which exceeded these with considerable vigour. Their Coastguard insisted on boarding and searching our vessels which intruded into their waters, to discover whether they were bringing merchandise or were prepared to carry away colonial produce. By the treaty of 1670 Spain had recognised the British colonies in North America, and England had agreed that her ships should not enter the ports of the Spanish colonies except from stress of weather, or with an especial licence from the Spanish Government to trade. By the treaty of 1729 we had agreed to the old regulations regarding trading to the Spanish Main, namely, that we should have the Assiento, or right of supplying these colonies with slaves, and that, besides this, we should only send one ship annually to the Spanish West Indies and South America. As fast as that authorised ship discharged its cargo in a Spanish port, she received fresh supplies of goods over her larboard side from other vessels which had followed in her wake, and thus poured unlimited quantities of English goods into the place. Other English traders did not approach too near the Spanish coasts, but were met in certain latitudes by South American smugglers, who there received their goods and carried them into port. In short, such a system of contraband trade was carried on in these waters by our merchants, that English goods in abundance found their way all over the Spanish American regions, and the great annual fair for goods imported from or by Spain dwindled into insignificance.In the midst of these secret correspondences the queen was seized at Windsor with a serious illness, and, considering the general state of her health, it was most threatening. The hopes of the Jacobites rose wonderfully; the Funds went rapidly down; there was a great run upon the Bank, and the Directors were filled with consternation by a report of an armament being ready in the ports of France to bring over the Pretender at the first news of Anne's decease.[15] They sent to the Lord Treasurer to inform him of the danger which menaced the public credit. The whole of London was in excitement, from a report that the queen was actually dead. The Whigs did not conceal their joy, but were hurrying to and fro, and meeting in large numbers at the Earl of Wharton's. The Lord Treasurer, to keep down the public alarm, remained in town, and contented himself with sending expresses to obtain constant news of the queen's state, for his hurrying to Windsor would have had an inconceivable effect. He, therefore, let himself be seen publicly where he could be questioned regarding the condition of the queen, and gave assurances that she was better. To allay the panic, Anne was induced to sign a letter prepared for her, announcing to Sir Samuel Stancer, the Lord Mayor, that she was now recovering, and would be in town and open Parliament on the 16th of February. This news being confirmed, those who had been too hasty in pulling off their masks found some awkwardness in fitting them on again. The Press was active. Steele published a pamphlet called "The Crisis," in advocacy of the Revolution, and on the danger of a Popish succession; whilst on the other hand came out a reply, supposed to be written by Swift, not without a few touches from Bolingbroke; it was styled "The Public Spirit of the Whigs," and was distinguished by all the sarcasm of the authors. The queen's recovery, and the fact that the French armament was a fiction, quieted the storm and again restored the Funds.
19 August 2015, John Doe
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