Editing War of the Austrian Succession (section)

==The Peace of 1748==
{{main|Treaty of Aix-la-Chapelle (1748)}}

Negotiations between Britain and France had been taking place at [[Breda]] since June 1746; the terms they agreed were then imposed on the other parties at Aix-la-Chapelle. Despite their victories in Flanders, French Finance Minister [[Jean-Baptiste de Machault d'Arnouville|Machault]] repeatedly warned of the impending collapse of their financial system. The British naval blockade led to the collapse of French customs receipts and caused severe food shortages, especially among the poor; after [[Second Battle of Cape Finisterre (1747)|Cape Finisterre]] in October, the [[French Navy]] could no longer protect their colonies or trade routes.<ref>Black (1999), pp. 97–100</ref>[[File:Maastricht 1748.jpg|thumb|left|The surrender of [[Maastricht]], 7 May 1748]]This was followed in November by a convention between Britain and Russia; in February 1748, a [[Rhine Campaign of 1748|Russian corps of 37,000 arrived in the Rhineland]].<ref>Hochedlinger, Michael; ''Austria's Wars of Emergence, 1683–1797'', Longman, London, 2003, p. 259</ref> Although the Dutch city of [[Siege of Maastricht (1748)|Maastricht]] surrendered to French forces in May 1748, ending the war was increasingly urgent. Louis XV therefore agreed to return the Austrian Netherlands, whose acquisition had cost so much. Few of his countrymen understood this decision; combined with the lack of tangible benefits for helping Prussia, it led to the phrase "as stupid as the Peace".<ref>McLynn, p. 1</ref>

A commission to negotiate competing territorial claims in North America was set up, but made very little progress. Britain regained [[Battle of Madras|Madras]], in return for restoring [[Siege of Louisbourg (1745)|Louisbourg, in Nova Scotia]], much to the fury of British colonists. Neither of the two main protagonists appeared to have gained much for their investment and both viewed the Treaty as an armistice, not a peace.<ref>McLynn, p. 2</ref>

[[File:Europe 1748-1766 en.png|thumb|upright=1.6|Europe in the years after the Treaty of Aix-la-Chapelle in 1748]]
In Austria, reactions were mixed; Maria Theresa was determined to regain Silesia and resented British support for Prussia's occupation.<ref>{{cite journal |last=McGill |first=W. J. |title=The Roots of Policy: Kaunitz in Vienna and Versailles, 1749–53 |journal=Journal of Modern History |issue=43 |date=1971 |page=229 }}</ref> On the other hand, the Treaty confirmed her right to the Monarchy, while the Habsburgs had survived a potentially disastrous crisis, regained the Austrian Netherlands without fighting and made only minor concessions in Italy.<ref>Armour, pp. 99–101</ref> Administrative and financial reforms made it stronger in 1750 than 1740, while its strategic position was strengthened through installing Habsburg allies as rulers of key territories in Northwest Germany, the [[Rhineland]] and Northern Italy.<ref>Black (1994), p. 63</ref>

Of the other combatants, Spain retained its predominance in [[Spanish America]] and made minor gains in Northern Italy, gaining the [[Duchy of Parma and Piacenza]] for Infante Philip. With French support, Prussia doubled in size with the acquisition of Silesia but twice made peace without informing their ally; Louis XV already disliked Frederick and now viewed him as untrustworthy.<ref name="Browning, p. 150">Browning, p. 150</ref> In the Dutch Republic the signing of the peace terms, the elevation of the Prince of Orange and the birth of [[William V, Prince of Orange|his son]] caused great joy, but dissatisfaction towards the ruling regime remained. William IV had changed little, did not reckon with his political opponents and, like them, was accused of French sympathies. Many began to think that improvements would not be obtained unless they were violently demanded; and so [[Pachtersoproer|riots arose]].{{sfn|Van Lennep|1880|pp=334–335}} The war confirmed the decline of the Dutch Republic, and the dismantlement of the Barrier fortresses marked the end of its period as a great power; combined with a sense they received little value for the subsidies paid to Maria Theresa, Britain moved to [[Anglo-Prussian alliance (1756)|align itself with Prussia]], rather than Austria, in order to protect Hanover from French aggression.<ref name="Browning, p. 150"/>

These factors led to the realignment known as the 1756 [[Diplomatic Revolution]] and the 1756 to 1763 [[Seven Years' War]], which was even grander in scale than its predecessor.