(Oct. 18, 1748) Treaty that ended the War of the Austrian Succession .
The treaty, negotiated largely by Britain and France, was marked by the mutual restitution of conquests, including the fortress of Louisbourg (in Nova Scotia) to France and Madras (now Chennai; in India) to England. It preserved Maria Theresa 's right to the Austrian lands, but the Habsburgs were weakened by Prussia's retention of Silesia . The treaty did not resolve any issues in the commercial colonial struggle between England and France and thus did not lead to a lasting peace.