ONE:211
ONE:Destroyed!The elections were now carried on with all the fire and zeal of the two parties. The Tories boasted of their successful efforts to stem the tide of expenditure for the war, to staunch the flow of blood, and restore all the blessings of peace. The Whigs, on the contrary, made the most of their opposition to the Treaty of Commerce, which they represented as designed to sacrifice our trade to the insane regard now shown to the French. To show their interest in trade, they wore locks of wool in their hats; and the Tories, to show their attachment to the Restoration and the Crown, wore green twigs of oak. Never was shown more completely the want of logical reason in the populace, for whilst they were declaring their zeal for the Protestant succession, and whilst burning in effigy on the 18th of NovemberQueen Bess's daythe Pope, the Devil, and the Pretender, they sent up a powerful majority of the men who were secretly growing more and more favourable to the Pretender's return. Never, indeed, had the chances of his restoration appeared so great. General Stanhope, on the close of the elections, told the Hanoverian minister that the majority was against them, and that if things continued ever so short a time on the present footing, the Elector would not come to the Crown unless he came with an army.
ONE:The Company was then compelled to reduce its dividends to six per cent. and apply to Parliament for a loan of a million and a half to meet its pecuniary difficulties. This, Ministers and Parliament complied with, and proceeding to relieve the Company of its embarrassments, Lord North[208] proposed and carried a measure, by which the Company, which had no less than seventeen million pounds of tea in its warehouses, should, without limit of time, be authorised to export its teas to the British colonies of America duty free. This was thought a great and conciliatory boon to the Americans, but it proved otherwise. The import duty of threepence in the pound was still stubbornly retained, and the Americans, looking at the principle of taxation, and not at a mere temptation of a cheapened article, saw through the snare, and indignantly rejected it. The principal tea merchants declared that this would be the case, and that the whole Government scheme was wild and visionary.
