If you do not get a lot of mail, you might be saying, wait! I thought the matter had been settled by treaty, and that the Electoral Prince of Bavaria was going to be King of Spain. But he has died, suddenly and strangely. The Empire has nominated its own candidate: Archduke Charles, the younger son of the Holy Roman Emperor. There is public talk of negotiations and partition-treaties, but private preparation for war. And as the stakes of that war will be Spain, the beating heart that circulates silver and gold through the world’s markets, we may expect that it will be harder-fought even than the last one.