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FORE:In the course of this commercial madness the imports greatly exceeded the exports, and there was consequently a rapid drain of specie from the country. The drain of bullion from the Bank of England was immense. In August, 1823, it had ��12,658,240, which in August, 1825, was reduced to ��3,634,320, and before the end of the year it ran as low as ��1,027,000. Between July, 1824, and August, 1825, twelve millions of cash were exported from Great Britain, chiefly to South America. During the Revolutionary war, which had lasted for fourteen years, the capital of the country had been completely exhausted, while all productive labour had been abandoned. The unworked mines were filled with water. They were accessible, it is true, to English speculators, but they were worked exclusively with English capital. The South American mining companies were so many conduits through which a rapid stream of gold flowed from Great Britain. The catastrophe that followed took the commercial world by surprise; even the Chancellor of the Exchequer failed to anticipate the disaster. On the contrary, his Budget of 1825 was based upon the most sanguine expectations for the future, and on the assurance that the public prosperity was the very reverse of what was ephemeral and peculiar, and that it arose from something inherent in the nation. Even at the prorogation of Parliament in July, the Royal Speech referred to the "great and growing" prosperity on which his Majesty had the happiness of congratulating the country at the beginning of the Session. The commercial crisis, however, with widespread ruin in its train, was fast coming upon Britain. Vast importations, intended to meet an undiminished demand at high prices, glutted all the markets, and caused prices to fall rapidly. Merchants sought accommodation from their bankers to meet pressing liabilities, that they might be enabled to hold over their goods till prices rallied. This accommodation the bankers were unable to afford, and sales were therefore effected at a ruinous loss. The South American mines, it was found, could not be worked at a profit, and they made no return for the twenty million pounds of British money which they had swallowed up. The effect was a sudden contraction of the currency, and a general stoppage of banking accommodation. The country banks, whose issues had risen to ��14,000,000, were run upon till their specie was exhausted, and many of them were obliged to stop payment. The Plymouth Bank was the first to fail, and in the next three weeks seventy banks followed in rapid succession. The London houses were besieged from morning to night by clamorous crowds, all demanding gold for their notes. Consternation spread through all classes. There was a universal pressure of creditors upon debtors, the banks that survived being themselves upon the edge of the precipice; and the Bank of England itself, pushed to the last extremity, peremptorily refused accommodation even to their best customers. Persons worth one hundred thousand pounds could not command one hundred pounds; money seemed to have taken to itself wings and fled away, reducing a state of society in the highest degree artificial almost to the condition of primitive barbarism, which led Mr. Huskisson to exclaim, "We were within twenty-four hours of barter."

FORE:The examination of the witnesses for the defence continued till the 24th of October, and then powerful speeches were delivered by the Attorney-General, Sir Robert Gifford, and by the Solicitor-General, Mr. Copley. The speech of the former was considered so effective, that William Cobbett threw off one hundred thousand copies of an answer to it. Sir Archibald Alison, the Tory historian, admits that it was not the evidence for the prosecution that told against the queen, "for it was of so suspicious a kind that little reliance could be placed on it, but what was elicited on cross-examination from the English officers on board the vessel which conveyed her Majesty to the Levant��men of integrity and honour, of whose testimony there was not a shadow of suspicion. Without asserting that any of them proved actual guilt against her Majesty, it cannot be disputed that they established against her an amount of levity of manner and laxity of habits, which rendered her unfit to be at the head of English society, and amply justified the measures taken to exclude her from it."

FORE:The passing of these Acts was marked by attacks on Lord Clive. Burgoyne brought up a strong report from his Committee, and, on the 17th of May, moved a resolution charging Clive with having, when in command of the army in Bengal, received as presents two hundred and thirty-four thousand pounds. This was carried; but he then followed it by another, "That Lord Clive did, in so doing, abuse the power with which he was entrusted, to the evil example of the servants of the public." As it was well understood that Burgoyne's resolutions altogether went to strip Clive of the whole of his property, a great stand was here made. Clive was not friendless. He had his vast wealth to win over to him some, as it inflamed the envy of others. He had taken care to spend a large sum in purchasing small boroughs, and had six or seven of his friends and kinsmen sitting for these places in Parliament. He had need of all his friends. Throughout the whole of this inquiry the most persistent and envenomed attacks were made upon him. He was repeatedly questioned and cross-questioned, till he exclaimed, "I, your humble servant, the Baron of Plassey, have been examined by the select Committee more like a sheep-stealer than a member of Parliament." Then the House thought he had suffered enough, for nothing was clearer than that justice required the country which was in possession of the splendid empire he had won to acknowledge his services, whilst it noted the means of this acquisition. Burgoyne's second resolution was rejected, and another proposed by Wedderburn, the Solicitor-General, adopted, "That Robert, Lord Clive, did, at the same time, render great and meritorious services to this country." This terminated the attack on this gifted though faulty man. His enemies made him pay the full penalty of his wealth. They had struck him to the heart with their poisoned javelins. From a boy he had been subject to fits of hypochondriacal depression; as a boy, he had attempted his own life in one of these paroxysms. They now came upon him with tenfold force, and in a few months he died by his own hand (November 22, 1774).On the day appointed for the trial of Warren Hastings there was a wonderful crowding into the great hall at Westminster. The walls had been in preparation hung with scarlet, and galleries raised all round for the accommodation of spectators. The seats for the members of the House of Commons were covered with green cloth, those for the lords and all the others with red. Galleries were set apart for distinguished persons, and for the members of the foreign embassies. When the lords, nearly one hundred and seventy in number, entered in procession, the vast hall presented a striking scene, being crowded, with the exception of the space in the centre for the peers, with all who were noted in the land, from the throne downwards. The lords were all in their robes of gold and ermine, marshalled by the king-at-arms and the heralds. First entered Lord Heathfield, the brave old Elliot of Gibraltar, as the junior baron, and the splendid procession was closed by the Earl Marshal of England, the Duke of Norfolk, and by the brothers and sons of the king, the Prince of Wales last of all. The twelve judges attended to give their advice on difficult points of law, and the Managers were attended also by their counsel, Drs. Scott and Lawrence, and Mr. Mansfield, Mr. Pigot, Mr. Burke, and Mr. Douglas. The galleries blazed with the rich array of ladies and foreign costumes. There were seen the queen with her daughters, and the Princesses Elizabeth, Augusta, and Mary, the Duchess of Gloucester, Mrs. Fitzherbert, the beautiful Duchess of Devonshire, Sheridan's handsome wife, and the great actress, Mrs. Siddons. Gibbon the historian, Dr. Parr, Mr., afterwards Sir, James Mackintosh, and numbers of distinguished artists, amongst them Sir Joshua Reynolds and Gainsborough, were also present.

FORE:HANDEL.The Premier was at this time subjected to a great mortification in being compelled by the House of Commons, and public opinion out of doors, to cancel the appointment of the Marquis of Londonderry as ambassador to St. Petersburg. A deep sympathy with the oppressed Poles, and an abhorrence of the unrelenting despotism of Russia pervaded the public mind in the United Kingdom. The Marquis of Londonderry had distinguished himself by sympathies of an opposite kind, and had characterised the Poles as the Czar's rebellious subjects. It was generally felt that England could not be fairly represented at the Court of St. Petersburg by a man of such well-known sentiments. The press was loud in its condemnation of the appointment, and Mr. Sheil brought the subject before the House of Commons by moving that an Address be presented to his Majesty for a copy of the appointment. As Lord Stanley declared emphatically against the selection of the noble marquis for such a mission, it was evident that if Government had gone to a division they would have been defeated. Sir Robert Peel therefore gave way with a good grace, stating that the appointment had not been formally made out; and though the House seemed to be interfering unduly with the Royal Prerogative, he would not advise his Majesty to persist in it. The motion was then withdrawn, and when Lord Londonderry read the report of the debate in the papers next day, he immediately sent in his resignation. In announcing this in the House of Peers, he said: "Having but one object, and that to serve the king honestly and to the best of my ability, were I to depart from this country after what has passed in the House of Commons, I should feel myself, as a representative of his Majesty, placed in a new, false, and improper position. My efficiency would be impaired, and it would be impossible for me to fill the office to which I have been called with proper dignity or effect. Upon these grounds, I have now to announce that no consideration will induce me to accept the office which his Majesty has been graciously pleased to confer on me."

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FORE:Besides the flattering assurances of the steady improvement in commerce and manufactures, and, consequently, in the revenues, the Regent's Speech, read, as usual, by the Lord Chancellor, justly congratulated the country on the successful termination of the Pindarree war by the Marquis of Hastings. It informed the two Houses that a new treaty had been entered into with the United States for adjusting the different points at issue between the two nations, not settled by the treaty of peace, and also for regulating the commerce between them. It announced the results of the Congress at Aix-la-Chapelle, and stated that some new measures were needed for the care of his Majesty's person in consequence of the death of the queen. The Address, in both Houses, was carried almost pro forma. Mr. Manners Sutton was elected Speaker of the Commons by acclamation.

FORE:The fame of Wren must rest on St. Paul's, for in palaces he was less happy than in churches. His additions to Windsor Castle and St. James's Palace, and his erection of Marlborough House are by no means calculated to do him high honour, whilst all lovers of architecture must deplore the removal of a great part of Wolsey's palace at Hampton Court to make way for Wren's structure. A glorious view, if old drawings are to be believed, must all that vast and picturesque variety of towers, battlements, tall mullioned windows, cupolas, and pinnacles, have made, as they stood under the clear heaven glittering in the sun. The writers who saw it in its glory describe it in its entireness as the most splendid palace in Europe. Of the campaniles of Wren, that of St. Bride's, Fleet Street; of Bow Church, Cheapside; of St. Dunstan's-in-the-East; and the tower of St. Michael's, Cornhill, are the finest. The last is almost his only Gothic one, and would have been a fine tower had the ornament been equally diffused over it, and not all been crowded too near the top. Wren was thwarted in his design for the London Monument. He drew a plan for one with gilt flames issuing from the loop-holes, and surmounted by a ph?nix, but as no such design could be found in the five Orders, it was rejected, and the existing commonplace affair erected. One of his last undertakings was the repair of Westminster Abbey, to which he added the towers at the west end, and proposed to erect a spire in the centre. Sir Christopher left a large quantity of drawings, which are preserved in All Souls' College library, Oxford.

FORE:Marlborough landed at Dover on the day of the queen's death, where he was received with the warmest acclamations and tokens of the highest popularity. He was met on his approach to London by a procession of two hundred gentlemen, headed by Sir Charles Coxe, member for Southwark. As he drew nearer this procession was joined by a long train of carriages. It was like a triumph; and Bothmar, the Hanoverian Minister, wrote home that it was as if he had gained another battle at H?chst?dt (Blenheim) that he would be of great service in case the Pretender should make any attempt, but that he was displeased that he was not in the regency, or that any man except the king should be higher in the country than he. He went straight to the House of Lords to take the oaths to the king; but at Temple Bar his carriage broke down, to the great delight of the people, because it compelled him to come out and enter another, by which they got a good view of him. Having taken the oaths, he retired into the country till the arrival of the king, disgusted at his not being in the regency.CAPTURE OF GODOY. (See p. 551.)

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