"Thanksgiving Day"
by cm

Fireworks in 18th Century London
Public DomainFireworks in 18th Century London
The Peace in question is the Peace of Utrecht, which signalled the end of the War of Spanish Succession, by then in its twelfth year.   By the Treaty of Utrecht, Philip V was removed from the French line of succession, avoiding a union of France and Spain under his rule.   The war finally ended the following year.