nd
right of fishery in the Southern Pacific were confirmed to Britain; and
a full liberty of trade and even of settlement was granted to all the
north-west coasts of America, beyond the most northerly of the Spanish
territories, though unaccompanied by any formal renunciation of
their right of sovereignty. Both nations were equally restricted from
attempting to form any settlement nearer to Cape Horn than the most
southerly plantations already established by Spain. It was also agreed,
that, in case of any future complaint, no violence should be committed,
but recourse had to an amicable adjustment between the respective
courts. This convention was generally applauded in England, though
L3,000,000 had been expended in warlike preparations.

CONTINENTAL AFFAIRS.

Early in this year the Emperor Joseph of Austria died, and was succeeded
by his brother Leopold, Grand Duke of Tuscany. On his death-bed, Joseph,
who had during his life shown himself an ambition & warrior, recommended
peace, and the first care of his successor was to free himself from
the Turkish war. Under the mediation of England, Prussia, and Holland,
negociations for peace were opened at Reichenbach, in Silesia, on the
4th of June, and a treaty of peace was settled on the _status quo_
principle, that each party should retain what it possessed previous to
the war, restoring all that it had conquered, and recovering all that
it had lost. The Czarina of Russia was invited to be a party to this
treaty, but she refused, and still carried on war with the Turks on the
one side, and the Swedes on the other.

The congress at Reichenbach interfered likewise in the affairs of the
Netherlands: England, Prussia, and Holland guaranteed to the Emperor
Leopold all the possessions of the House of Austria in Flanders,
Brabant, &c, on the condition that he acknowledged and re-established
the ancient privileges and constitution of those provinces. On the
accession of Leopold, and before the meeting at Reichenbach, or before
any kind of measure was attempted, either diplomatically or otherwise,
he had sent a memorial to the Nether-landers, in which he expressed
sincere regret for the despotic proceedings of the Austrian government,
and declared his anxiety to redress all grievances; at the same time
vindicating his claim to the sovereignty, and announcing his resolution
to maintain it with all his might. Although the Netherlanders had
established their independence, the