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 Spaniards have indeed no fleet able to oppoe us, but they will not endeavour actual oppoition; they will hut themelves up in their own territories, and let us exhaut our eamen in a hopeles iege. They will give commiions to privateers of every nation, who will prey upon our merchants without poibility of reprial. If they think their plate fleet in danger, they will forbid it to et ail, and live a while upon the credit of treaure which all Europe knows to be afe; and which, if our obtinacy hould continue till they can no longer be without it, will be conveyed to them with ecrecy and ecurity by our natural enemies the French, or by the Dutch our natural allies.

the whole continent of Spanih America will lie open to invaion; we hall have nothing to do but march into thee wealthy regions, and make their preent matters confes that they were always ours by