The definitions are not equivalent. Royden has restricted himself to a (common) subtype of the general definition as presented in 2, which is more general.
To start with an example: take $X = \{0,1\}$ in the indiscrete topology $\mathscr{T}_i = \{\emptyset,X\}$. Then by the definition $\mathcal{S} = \emptyset$ is a subbase for this, as the smallest topology on $X $ that contains the empty set (and as all sets contain the empty set, this is just the smallest topology on $X$ full stop) is the indiscrete one (all topologies must contain $\emptyset$ and $X$).
But $\emptyset$ is clearly no cover of $X$. In fact any subset of $\mathscr{T}_i$ is a subbase for the same reason, but I took the most extreme example.
Royden's definition is misleading in another way: he says "the base for $X$" instead of a base for the topology on $X$. (A set by no means has a unique basis, in general, except in trivial cases).
His definition refers to the following general fact
Proposition
Let $X$ be any set (no topology yet)
If $\mathcal{S} \subseteq \mathscr{P}(X)$ then the smallest topology $\mathcal{T}_{S}$ on $X$ that contains $\mathcal{S}$ as a subset (i.e. the intersection of al such topologies) is given by $$\mathcal{T}_S = (\mathcal{S}^{\cap, <\infty})^{\cup}$$
Here for a collection $\mathcal{A}$ of subsets of $X$ we define $$\mathcal{A}^{\cap, < \infty} = \{\bigcap \mathcal{A}': \mathcal{A}' \subseteq \mathcal{A} \text{ finite }\}, \text{ where } \bigcap \emptyset = X$$
And $$\mathcal{A}^\cup = \{ \bigcup \mathcal{A}': \mathcal{A}' \subseteq \mathcal{A}\}$$
For the final part of the first definition, see the discussion here, e.g.
The proof is not hard: any topology $\mathscr{T}$ that contains $\mathcal{S}$ contains $\mathcal{S}^{\cap, < \infty}$ as well, as topologies are closed under finite intersections, and then it contains $(\mathcal{S}^{\cap, <\infty})^{\cup}$ as well, as topologies are closed under all unions. So $\mathscr{T}_S \subseteq \mathscr{T}$.
This shows the minimality, one only needs to show that $(\mathcal{S}^{\cap, <\infty})^{\cup} $ is indeed a topology. It also contains all members $S$ of $\mathcal{S}$ as $S = \bigcup\{ \bigcap\{S\}\}$, and $\{S\} \subseteq \mathcal{S}$ is finite.
It is a topology as well: it contains $X$ as $X = \bigcup \{ \bigcap \emptyset \}$ and $\emptyset = \bigcup \emptyset$ is in it as well. The collection is trivially closed under all unions (a union of unions is a union), while it's closed under finite intersections as
$$\left(\bigcup_{i \in I} \bigcap \mathcal{A}_i\right) \cap \left(\bigcup_{j \in J} \bigcap \mathcal{B}_j\right) = \bigcup_{(i,j) \in I \times J} \{ \bigcap \left(\mathcal{A}_i \cup \mathcal{ B}_j)\right) \}$$
Where all $\mathcal{A}_i$ and $\mathcal{B}_j$ are finite subsets of $\mathcal{S}$, and then applying induction. (Or doing the equivalent for finite intersections of the above formula, which is a bit messier).
Alternatively we can note that $\mathcal{S}^{\cap, <\infty}$ satisfies the requirements for a base for a topology : it covers $X$ by the empty intersection clause; and it's closed under finite intersections.
So indeed in the general case $\mathcal{S}^{\cap, < \infty}$ is a base for $\mathscr{T}_S$, and covers $X$, provided we use the empty intersection definition. So with that proviso the equivalence does hold.