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 By that event, the Archduke Charles succeeded to his throne. Joseph died 17th April. Four months earlier, 23rd December, Harley, by his intermediary, Gautier, informed Torcy that England would give up Spain and the Indies to the Bourbon king, and would desert the allies as soon as trade interests were provided for. The surrender of that which the English had claimed from 1703 to 1710, the return, in spite of success and glory, to the moderate policy laid down by William in 1701, was not caused by the prospect of the union of the crowns on the head of Charles. Harley was afraid that the archduke would make those terms himself. For it was known that the Austrians regarded Spain and its colonies as more burdensome than profitable. When Harley was stabbed by Guiscard, and was laid up with his wound, the secret of the negotiations passed into St. John's hands. His treatment of the allies was perfidious; but they obtained almost as much as they really wanted.

Eugene, deserted by the English forces under Ormonde, was beaten by Villars at Denain, and afterwards, by no fault of the English, at Friedlingen. Then the emperor made his own peace at Rastadt. At Utrecht, the Dutch secured a favourable tariff, the right of garrison in a line of fortified towns, from Ghent to Namur, and the daring Torcy had so thoroughly penetrated the weakness of England, in consequence of party divisions, that he concluded a disastrous war by a triumphant negotiation. France retained her own territory, practically undiminished, recovering Lille, and acquiring, for the younger branch of the royal house, Spain and the Spanish colonies. It gained infinitely more than either Holland or England. Marshal La Feuillade asked Bolingbroke why he had let them off so easily. The answer was: Because we were no longer afraid of you. Philip V. retained all that was legitimately Spanish, in Europe and America, excepting the two fortresses conquered by England, Gibraltar and Port Mahon. He refused to give up Corunna. But he renounced his claim in the succession to his grandfather's crown. Bolingbroke betrayed the allies, and he disgraced