"In England, on the contrary, the immense grants of Parliament in 1710 struck the French prodigiously; for while their credit was low, or in a manner quite gone, ours was at its zenith." During that same war "there appeared that mighty spirit among our merchants which enabled them to carry on all their schemes with a vigor that kept a constant circulation of money throughout the kingdom, and afforded such mighty encouragement to all manufactures as has made the remembrance of those times grateful in worse." "By the treaty with Portugal we were prodigious gainers....

The Portuguese began to feel the comfortable effects of their Brazil gold mines, and the prodigious commerce that followed with us made their good fortune in great measure ours; and so it has been ever since; otherwise I know not how the expenses of the war had been borne....

The running cash in the kingdom increased very considerably, which must be attributed in great measure to our Portuguese trade; and this, as I have made manifest, we owed wholly to our power at sea [which took Portugal from the alliance of the two crowns, and threw her upon the protection of the maritime powers].

Our trade with the Spanish West Indies by way of Cadiz was certainly much interrupted at the beginning of this war; but afterward it was in great measure restored, as well by direct communication with several provinces when under the Archduke, as through Portugal, by which a very great though contraband trade was carried on.

We were at the same time very great gainers by our commerce with the Spaniards in the West Indies [also contraband]....