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THREE:It was not to be wondered at that when, on the 24th of January, the preliminaries of peace were laid on the tables of the two Houses, there should be a violent denunciation of the large concessions made by Ministers. Spain had been granted better terms than in any treaty since that of St. Quentin. She had obtained the most desirable island of Minorca, with the finest port on the Mediterranean. She had got the Floridas, and had given up scarcely anything, whilst, had the British, now freed from the dead weight of America, pursued the war against her, she must soon have lost most of her valuable insular colonies. France had given up more, but she recovered very important territories which she had lost, and especially her settlements of Pondicherry and Chandernagore, in the East Indies; but America had conceded nothing, and yet had been allowed to determine her own frontier, and to share the benefits of the fishing all round our own Transatlantic coasts.