It could scarcely be denied that with the commanding military control of the sea held by England, grasping as she now did so many important positions, with her navy overwhelmingly superior in numbers, and her commerce and internal condition very thriving, more rigorous terms might easily have been exacted and would have been prudent.

The ministry defended their eagerness and spirit of concession on the ground of the enormous growth of the debt, which then amounted to L122,000,000, a sum in every point of view much greater then than now; but while this draft upon the future was fully justified by the success of the war, it also imperatively demanded that the utmost advantages which the military situation made attainable should be exacted.

This the ministry failed to do.

As regards the debt, it is well observed by a French writer that "in this war, and for years afterward, England had in view nothing less than the conquest of America and the progress of her East India Company.

By these two countries her manufactures and commerce acquired more than sufficient outlets, and repaid her for the numerous sacrifices she had made.
Seeing the maritime decay of Europe,--its commerce annihilated, its manufactures so little advanced,--how could the English nation feel afraid of a future which offered so vast a perspective ?" Unfortunately the nation needed an exponent in the government; and its chosen mouthpiece, the only man, perhaps, able to rise to the level of the great opportunity, was out of favor at court.
Nevertheless, the gains of England were very great, not only in territorial increase, nor yet in maritime preponderance, but in the prestige and position achieved in the eyes of the nations, now fully opened to her great resources and mighty power.