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Even now, had the Russians and Austrians possessed the spirit which the circumstances of the time demanded of them, they were far from being in a hopeless condition. Buonaparte was at an immense distance from his country. Besides the army still remaining with the two Emperorsat least sixty thousand in numberthere were the strong forces of the Archdukes Charles and John in Hungary, and of Prince Ferdinand in Bohemia. By bold and skilful man?uvres they might have cut off his communications with France and Italy, and have harassed him, without committing themselves to a decided battle, till he must have found himself in a most perilous position. But Francis of Austria gave up the struggle in despair; he sent Prince John of Lichtenstein to propose a suspension of arms. Buonaparte insisted that they should first break with the Russians, and Lichtenstein said that Francis was quite willing, and to treat with Napoleon for a separate peace, but that he must claim for the Emperor Alexander the privilege of retreating into his own country without molestation. Buonaparte granted this as a favour, and added words so complimentary to Alexander, that they betrayed a wish to complete an agreement also with him. He returned to Vienna, and again occupied the palace of Sch?nbrunn. There he and Talleyrand concerted the demands which should be made; and an armistice was signed, on these terms, with Prince John of Lichtenstein, on the 6th of December. The final treaty was signed by the Emperor Francis, at Pressburg, on the 26th of December, a fortnight after Austerlitz. By this treaty Austria surrendered to Buonaparte all her territories in Italy, as well as her Venetian provinces of Dalmatia and on the coast of Albania. She surrendered her only seaport on the Adriatic, Trieste, and thus reduced herself to a mere inland power. She was compelled to cede to her rival, Bavaria, the Tyrola country most faithfully attached to the House of Hapsburg,the bishopric of Passau, and other regions. Bavaria and Würtemberg, for their hostility to their own German race, were elevated into kingdoms, and Baden, for the same unpatriotic services, into a grand duchy. Thus France and her allies, or rather subjects, were now in possession of Switzerland, Italy, and the Tyrol on one side, and of Holland and Belgium on the other, so that she had everywhere an open high road into Germany,[507] and nations of tributary princes, which were to aid in further enslaving it. Prussia had made up her mind on hearing of the victory of Austerlitz, and Haugwitz appeared at Sch?nbrunn, not to declare war on Buonaparte, but to compliment him on his victory. Buonaparte could not conceal his contempt for this despicable conduct. He said, "Ah! this compliment was intended for others, but fortune has transferred it to me;" but as he still intended to make use of Prussia, and could humiliate George III. by her means, he concluded a treaty with Haugwitz, by which he handed over Hanover to our late ally, and claimed Anspach in lieu of it. He then strengthened the Confederation of the Rhine, of which he was Protector, and so completely broke up the old federation of Germany, that Francis of Austria soon abandoned the title of Elective Emperor of Germany, and assumed that of Hereditary Emperor of Austria.
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ONE:Whilst the American colonies were thus stimulated, by unwise taxation, into a temper which never again could be entirely allayed, the king was suddenly attacked with an illness, that startled himself and the kingdom from that security which his apparently robust constitution had inspired. He was said to labour under cough and fever; but it became pretty well understood, after a time, that it was something more[186] alarmingthat it was, in fact, an attack of that insanity which recurred again and again, and held him for years, during the latter part of his reign, in its fearful power. This time it was of short occurrence; and the moment it was past, George held a levee at St. James's, and appeared at it with a cheerful air, as if to dissipate all alarm. But the king himself immediately proposed a measure, which showed that it had excited grave thoughts in him. He submitted to Ministers the propriety of a provision for a regency, in case of any recurring malady which should incapacitate him for business. The matter was discussed in the Cabinet, and it was agreed that such a bill should be prepared, empowering the king to name, if deemed necessary, "either the queen, or any other person of the royal family usually residing in Great Britain."

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These preparations on the part of Spain were in one particular favourable to the King of Englandthey rendered the Emperor much more conceding. The English envoy at that Courtrather singularly a Swiss of the canton of Bernthe General de St. Saphorin, had found Stahremberg, the Emperor's Minister, very high, and disinclined to listen to the proposals of the King of England regarding Bremen and Verden; but the news of the Spanish armament, and still more of its having sailed from Cadiz to Barcelona, produced a wonderful change. The Imperial Court not only consented to the demands of England, but accepted its mediation with the Turks, by which a considerable force was liberated for the service in Italy. The Emperor acceded to the alliance proposed between England, France, and Germany in order to drive Spain to terms, and which afterwards, when joined by the Dutch, was called the Quadruple Alliance. In France, however, all obstacles to this Treaty were not yet overcome. There was a strong party, headed by the Marshal d'Huxelles, chief of the Council for Foreign Affairs, which strongly opposed this plan of coercing the grandson of Louis XIV. To overcome these obstacles Stanhope went over to Paris, and had several conferences with King Philip; and, supported by Lord Stair and Nancr, all difficulties were removed, and the Alliance was signed in the succeeding August."NAPOLEON."It was at the close of 1719, when George I. returned from Hanover, that this Company proposed to Ministers to consolidate all the funds into one. It was strange that both Ministers and merchants could be deluded by the hope of enriching themselves by a share of the trade with the Spanish South American provinces, when Spain herself, in full enjoyment of them, was sunk into indigence and weakness, and presented the most determined resistance to the unfettered intercourse of any other nation with them. Yet Sir John Blunt, a leading director of the South Sea Company, persuaded the Ministers that by granting the Company power to deal with the public funds, and especially to buy up the unredeemable annuities which had been granted in the two preceding reigns, chiefly on terms of ninety-nine years, and which now amounted to about eight hundred thousand pounds a year, they could, in twenty-six years, pay off the entire National Debt. But, to enable them to do this, they must be empowered to reduce all the different public securities to one aggregate fund in their hands, to convert both redeemable and unredeemable debts into stock by such arrangements as they could make with the holders, and to have certain commercial privileges vested in them. Ministers accepted the proposals with great alacrity. Aislabie introduced the scheme to Parliament in the month of February, 1720, declaring that, if it was accepted by the House, the prosperity of the nation would be amazingly enhanced, and all its debts liquidated in a very few years. Craggs seconded the proposal in most sanguine terms, expressing his conviction that every member of the House must be ready to adopt so advantageous an offer. Ministers had already closed with the proposals of the Company, and they were themselves greatly disconcerted by the suggestion of Mr. Thomas Brodrick, the member for Stockbridge, who expressed his entire accordance with Ministers, but thought that the nation should endeavour to obtain the best terms for itself by opening the competition to every other company or association of men as well as that in question. Ministers were confounded by this proposal, and Aislabie endeavoured to get out of it by declaring that to do this would be like putting the nation up to auction, and that such things should be done with spirit. But Jekyll interposed, saying it was this spirit which had ruined the nation, and it was now requisite to consider seriously what was best for the public. A violent debate ensued, in which Walpole eloquently recommended open competition, and was sharply replied to by Lechmere. The question was carried in favour of competition; and then the Bank of England, which before had coolly declined to enter into the proposals, suddenly appeared in a new temper, and made liberal offers for the privilege of thus farming the public debts. But the South Sea Company was not to be outdone; it offered seven millions and a half, and the Bank gave way in despair.
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