(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