The Peace confirmed the Bourbon candidate as
Philip V of Spain to remain as king. In return, Philip renounced the French throne, both for himself and his descendants, with reciprocal renunciations by French Bourbons of the Spanish throne, including Louis XIV's nephew
Philippe of Orléans. These became increasingly important after a series of deaths between 1712 and 1714 left the five year old
Louis XV as his great-grandfather's heir. Great Britain was the main beneficiary; Utrecht marked the point at which it became the primary European commercial power. In Article X, Spain ceded the strategic ports of
Gibraltar and
Menorca. The British emerged from the treaty with the
Asiento de Negros, which referred to the monopoly contract granted by the
Spanish government to other European nations to supply slaves to
Spain's colonies in the Americas. The
Asiento de Negros had come about because the
Spanish Empire rarely participated in the
transatlantic slave trade itself, preferring to outsource this to foreign merchants.
Bourbon France had previously held the
Asiento de Negros, allowing French slave traders to supply 5,000 slaves to the Spanish Empire each year; France had gained control over this contract after Philip V had become King of Spain. After the British government gained access to the
Asiento de Negros, the economic prominence held by Dutch
Sephardic Jewish slaveowners began to fade, while the
South Sea Company was established in hopes of gaining exclusive access to the contract. The British government sought to reduce its debt by increasing the volume of trade it had with Spain, which required gaining access to the
Asiento de Negros; as historian
G.M. Trevelyan noted: "The finances of the country were based in May 1711 on the assumption that the Asiento, or monopoly of the slave trade with Spanish America, would be wrested from France as an integral part of the terms of peace". Following the passage of the treaty, the British government gained access for thirty years to the
Asiento de Negros. The importance placed by British negotiators on commercial interests was demonstrated by their demand for France to "level the fortifications of
Dunkirk, block up the port and demolish the sluices that scour the harbour, [which] shall never be reconstructed". This was because Dunkirk was the primary base for French
privateers, as it was possible to reach the North Sea in a single tide and escape British patrols in the English Channel. Under Article XIII and, despite the British demands to preserve
Catalan constitutions and rights in return for Catalonia's support for the Allies during the war, Spain only agreed to grant an amnesty to
Habsburg supporters, thus implying the imposition of the laws and institutions of Castile to the
Principality of Catalonia, as it already happened in 1707 to the other occupied kingdoms of the Crown of Aragon. This lack of guarantees led to the prolongation of the war between the Principality of Catalonia and the Bourbon Crown, in a separate conflict known as the
War of the Catalans (1713–1714). Spanish territories in Italy and
Flanders were divided, with
Savoy receiving
Sicily and parts of the
Duchy of Milan. The former
Spanish Netherlands, the
Kingdom of Naples,
Sardinia, and the bulk of the Duchy of Milan went to
Emperor Charles VI. In South America, Spain returned
Colónia do Sacramento in modern Uruguay to Portugal and recognised Portuguese sovereignty over the lands between the Amazon and
Oyapock rivers, now in
Brazil. The British agreed to prevent their citizens from visiting Spanish colonies in America without prior approval from colonial officials. In North America, France recognised British
suzerainty over the
Iroquois, and ceded
Nova Scotia and its claims to
Newfoundland and territories in
Rupert's Land. The French portion of
Saint Kitts in the
West Indies was also ceded in its entirety to Britain. The successful French
Rhineland campaign of 1713 finally induced Charles to sign the 1714 treaties of
Rastatt and
Baden, although terms were not agreed with Spain until the
1720 Treaty of The Hague. ==Responses to the treaties==