I believe he was lamenting the death of Marie Antoinette.
Here is some insight into th man and the quote in question:
Edmund Burke (1729-1797), born in Dublin, Ireland, was a member of the British House of Commons. After the French Revolution, Burke became an important critic of the Revolution and the effective founder of modern conservative political ideology. Although he had serious reasons for his politics, there is also an element of nostalgia about in his perspectives.
In this brief speech he laments the death of the Queen and the passing of an era.
"But the age of chivalry is gone; that of sophisters, economists, and calculators has succeeded, and the glory of Europe is extinguished forever.
Never, never more, shall we behold that generous loyalty to rank and sex, that proud submission, that dignified obedience, that subordination of the heart, which kept alive, even in servitude itself, the spirit of an exalted freedom!
The unbought grace of life, the cheap defense of nations, the nurse of manly sentiment and heroic enterprise is gone. "
http://www.fordham.edu/halsall/mod/1793burke.html