This is the last point of the discussion. Bernham tells Halsham that a letter has just arrived from the King of Spain. The letter is addressed to the King's majesty. Halsham asks why the letter hasn't come yet, and bernham replies that it's because they've got a letter, not because they have a fleet of ships. He also points out that the previous King wouldn't have spared any of his kids if they were in the same situation as the current King. The fact that the letter isn't a fleet means that they can start negotiating the terms of the peace treaty without having to go to war with Spain.