Treaty of Hubertusburg where the war had never been popular. After protracted negotiations between the war-weary powers, peace was made among Prussia, Austria, and Saxony at Hubertusburg, and among Great Britain, France, and Spain at Paris. The Treaty of Hubertusburg, though it restored the prewar status quo, marked the ascendancy of Prussia as a leading European power. Through the Treaty of Paris, Great Britain emerged as the world's chief colonial empire, which was its primary goal in the war, and France lost most of its overseas possessions. The phrase "Hubertsburg Peace" is sometimes used as a description for any Treaty which restores the
Cobden–Chevalier Treaty that with such an alliance in being it did not matter what other European states thought. Rouher presented the Emperor with his commercial plan with sixty pages of favourable arguments, which the Emperor approved. The Emperor announced the treaty in a letter published on 15 January 1860 and it caused fury among the protectionist interests. Princeton University economist Gene Grossman described the treaty as the "first modern trade agreement." On 23 January 1860 at the Foreign Office the plenipotentiaries of both nations signed and sealed the treaty. Lord Cowley, the British Ambassador to France, and Cobden signed on behalf of