ONE:The South Sea Company, with a folly of which extreme greed only is capable, endeavoured to put down these rival schemes and obtained an order from the Lords Justices and writs of scire facias against several of these new bubbles. It was like raising a wind to blow away the bubbles, forgetting that their own was a bubble too, and would go with them. The moment that the people began to distrust one they distrusted all. The panic became as great as the mania had been. The South Sea stock dropped in less than a month from one thousand to below six hundred. There was a simultaneous rush to sell out, and the shares must have sunk instantly to nil but for the gigantic exertions of the Company to raise money and buy in. The relief, however, was but temporary. The bankers and pawnbrokers who had advanced money on scrip broke and fled; merchants, goldsmiths, and speculators rushed away after them. Walpole was summoned in haste from Haughton to devise some means of staying the panic. He endeavoured to get the Bank of England to circulate three millions of South Sea bonds for a year; but the Bank, seeing that the case was desperate, declined it. This was decisive. The rage and despair of the swarming dupes were indescribable. They heaped[48] execrations not only on the South Sea Company, but on Ministers, the king, his mistresses, and the Royal Family, who had all been deep in the affair, and who had taken good care of themselves. George landed at Margate on the 9th of November, soon after which the South Sea stock fell to one hundred and thirty-five. On the 8th of December Parliament met, and promptly began to investigate the scandal.Whilst Parliament was busy with the Septennial Bill, George I. was very impatient to get away to Hanover. Like William III., he was but a foreigner in England; a dull, well-meaning man, whose heart was in his native country, and who had been transplanted too late ever to take to the alien earth. The Act of Settlement provided that, after the Hanoverian accession, no reigning sovereign should quit the kingdom without permission of Parliament. George was not content to ask this permission, but insisted that the restraining clause itself should be repealed, and it was accordingly repealed without any opposition. There was one difficulty connected with George's absence from his kingdom which Council or Parliament could not so easily deal with: this was his excessive jealousy of his son. The king could not take his departure in peace if the Prince of Wales was to be made regent, according to custom, in his absence. He proposed, therefore, through his favourite, Bothmar, that the powers of the prince should be limited by rigorous provisions, and that some other persons should be joined[34] with him in commission. Lord Townshend did not hesitate to express his sense of the impolicy of the king's leaving his dominions at all at such a crisis; but he also added that to put any other persons in commission with the Prince of Wales was contrary to the whole practice and spirit of England. Driven from this, the king insisted that, instead of regent, the prince should be named "Guardian and Lieutenant of the Realm"��an office which had never existed since the time of the Black Prince.