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THREE:By this treaty almost everything was given up which had kept Spain and Austria in war and conflict for many years, and by themselves and their allies had steeped Europe in blood. The King of Spain agreed to sanction the Ostend Company, to yield the long-contested point regarding the exclusive mastership of the Golden Fleece. He surrendered the right to garrison with Spanish troops the fortresses of Tuscany. He acknowledged the Emperor's right to Naples, Sicily, the Milanese, and Netherlands, and guaranteed what was termed the Pragmatic Sanction; that is, the succession of the hereditary states of Austria in the female line. This was a concession of immense importance to the Emperor, who had only daughters, and whose claim to the Flemish and Italian dominions might thus have been contested by Philip on the Emperor's death. Thus, before the emotions of a family quarrel, fell at once all the mighty questions which had rent and desolated Europe for a quarter of a century! Both the sovereigns engaged to afford mutual support should either be attacked. Charles agreed to bring into the field twenty thousand foot and ten thousand horse, Philip twenty thousand troops and fifteen ships of war. FORE:"They have their good points," she answered, exactly as he himself had answered Brewster's baiting long ago. Then she fastened her gaze on the roof of the ramada.The South Sea Company, with a folly of which extreme greed only is capable, endeavoured to put down these rival schemes and obtained an order from the Lords Justices and writs of scire facias against several of these new bubbles. It was like raising a wind to blow away the bubbles, forgetting that their own was a bubble too, and would go with them. The moment that the people began to distrust one they distrusted all. The panic became as great as the mania had been. The South Sea stock dropped in less than a month from one thousand to below six hundred. There was a simultaneous rush to sell out, and the shares must have sunk instantly to nil but for the gigantic exertions of the Company to raise money and buy in. The relief, however, was but temporary. The bankers and pawnbrokers who had advanced money on scrip broke and fled; merchants, goldsmiths, and speculators rushed away after them. Walpole was summoned in haste from Haughton to devise some means of staying the panic. He endeavoured to get the Bank of England to circulate three millions of South Sea bonds for a year; but the Bank, seeing that the case was desperate, declined it. This was decisive. The rage and despair of the swarming dupes were indescribable. They heaped[48] execrations not only on the South Sea Company, but on Ministers, the king, his mistresses, and the Royal Family, who had all been deep in the affair, and who had taken good care of themselves. George landed at Margate on the 9th of November, soon after which the South Sea stock fell to one hundred and thirty-five. On the 8th of December Parliament met, and promptly began to investigate the scandal.