TWO:Coote landed at Madras at the beginning of November. A council was immediately called, Whitehill was removed from the government of the Presidency, and the member of Council next in seniority appointed. Coote had brought with him only five hundred British troops and six hundred Lascars. The whole force with which he could encounter Hyder amounted only to one thousand seven hundred Europeans and five thousand native troops. Coote, whose name as the conqueror of the French at Wandewash and Pondicherry struck terror into Hyder, soon resumed his triumphs on his old ground, driving the enemy from[331] Wandewash. Hearing then of the arrival of the French armament off Pondicherry, he marched thither, and posted himself on the Red Hills. The French fleet, consisting of seven ships of the line and four frigates, was anchored off the place. But the French squadron having sailed away for the Isle of France, from apprehension of the approach of a British fleet, Hyder retreated, and, entering the territory of Tanjore, laid it waste, while his son, Tippoo, laid siege again to Wandewash. Hyder was again encouraged to advance, and on the 6th of July, 1781, Coote managed to bring him to action near Porto Novo, and completely routed him and his huge host, though he had himself only about eight thousand men. Hyder retired quite crestfallen to Arcot, and ordered Tippoo to raise the siege of Wandewash.The Ministry being complete, Parliament met on the 2nd of December. It was found that the new Administration had not that influence in the boroughs that Newcastle, who had cultivated it, had; and several members of the Cabinet, Pitt amongst them, had difficulty in getting returned, as was the case with Charles Townshend. In the king's speech, his Majesty was made to speak of the militia, which he was known by everybody to hold in sovereign contempt, as the best and most constitutional means of national defence. He announced also that he had ordered the return of the Hanoverian troops to their own country; and the Duke of Devonshire inserted in the Address from the Lords an expression of thanks for having brought these troops over. Pitt had declared that he would quit the Cabinet if such a vote was passed, and Temple came hurrying down to the House��Pitt being absent from the Commons with the gout��and declared that he had quitted a sick bed to protest against it. This was an unlucky beginning. It was clear that there was want of unity in the Cabinet at its very birth, and out-of-doors the people were loudly complaining of the scarcity of food, and bread riots were frequent. The king himself could not help ridiculing the speech his new Ministers had composed for him; and a poor printer being arrested for putting another speech into his mouth, George said he hoped the man might receive very lenient punishment, for, as far as he could understand either of the speeches, he thought the printer's the best. To abate the ferment out-of-doors, the Commons passed two Bills: one prohibiting the export of grain, flour, or biscuit; the other prohibiting, for several months, distillation from wheat or barley.

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TWO:The expedition against England was at this moment actually in motion. The squadrons of Brest and Rochefort were already united under the command of Admiral Roquefeuille, and sailing up the Channel to clear the way for the transports containing the soldiers. Sir John Norris had been appointed Admiral of our Channel fleet, consisting of twenty-one ships of the line. He had lain at Spithead, but had quitted that station and sailed into the Downs, where he was joined by other ships from Chatham; and thus was not only superior in number to the French, but had the advantage of being well acquainted with the coasts, he having long been Captain of Deal Castle. Roquefeuille sailed right up to the Isle of Wight, and, observing no vessels off Spithead, he, in his French egotism, concluded that the fleet had sought shelter in Portsmouth harbour. He therefore lost no time in despatching a small vessel to Dunkirk to hasten on his armament. Seven thousand men were instantly sent on board transports, and the prince and Marshal Saxe, who was to take command of the land force, accompanied them. Roquefeuille, meanwhile, proceeding on his voyage, came to anchor off Dungeness, which he had no sooner done than he beheld the British fleet bearing down upon him in much greater force than his own, for he had only fifteen ships of the line and five frigates. The destruction of the French fleet appeared inevitable, but Sir John Norris this time justly incurred the censure of lingering. He thought, from the state of the tide and the approach of night, it was better to defer the attack till morning; and, when morning came, no Frenchmen were to be seen. The French admiral, much more active than poor old Sir John, had slipped his cables and made the best of his way homewards.It was at the close of 1719, when George I. returned from Hanover, that this Company proposed to Ministers to consolidate all the funds into one. It was strange that both Ministers and merchants could be deluded by the hope of enriching themselves by a share of the trade with the Spanish South American provinces, when Spain herself, in full enjoyment of them, was sunk into indigence and weakness, and presented the most determined resistance to the unfettered intercourse of any other nation with them. Yet Sir John Blunt, a leading director of the South Sea Company, persuaded the Ministers that by granting the Company power to deal with the public funds, and especially to buy up the unredeemable annuities which had been granted in the two preceding reigns, chiefly on terms of ninety-nine years, and which now amounted to about eight hundred thousand pounds a year, they could, in twenty-six years, pay off the entire National Debt. But, to enable them to do this, they must be empowered to reduce all the different public securities to one aggregate fund in their hands, to convert both redeemable and unredeemable debts into stock by such arrangements as they could make with the holders, and to have certain commercial privileges vested in them. Ministers accepted the proposals with great alacrity. Aislabie introduced the scheme to Parliament in the month of February, 1720, declaring that, if it was accepted by the House, the prosperity of the nation would be amazingly enhanced, and all its debts liquidated in a very few years. Craggs seconded the proposal in most sanguine terms, expressing his conviction that every member of the House must be ready to adopt so advantageous an offer. Ministers had already closed with the proposals of the Company, and they were themselves greatly disconcerted by the suggestion of Mr. Thomas Brodrick, the member for Stockbridge, who expressed his entire accordance with Ministers, but thought that the nation should endeavour to obtain the best terms for itself by opening the competition to every other company or association of men as well as that in question. Ministers were confounded by this proposal, and Aislabie endeavoured to get out of it by declaring that to do this would be like putting the nation up to auction, and that such things should be done with spirit. But Jekyll interposed, saying it was this spirit which had ruined the nation, and it was now requisite to consider seriously what was best for the public. A violent debate ensued, in which Walpole eloquently recommended open competition, and was sharply replied to by Lechmere. The question was carried in favour of competition; and then the Bank of England, which before had coolly declined to enter into the proposals, suddenly appeared in a new temper, and made liberal offers for the privilege of thus farming the public debts. But the South Sea Company was not to be outdone; it offered seven millions and a half, and the Bank gave way in despair.

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TWO:Unexpectedly the figure went limp.

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