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TWO:"Doctor said air was best��

TWO: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.

TWO:DEPARTURE OF THE BRITISH TROOPS FROM ALEXANDRIA. (See p. 539.)

TWO:At the point at which our former detail of[316] Indian affairs ceased, Lord Clive had gone to England to recruit his health. He had found us possessing a footing in India, and had left us the masters of a great empire. He had conquered Arcot and other regions of the Carnatic; driven the French from Pondicherry, Chandernagore, and Chinsura; and though we had left titular princes in the Deccan and Bengal, we were, in truth, masters there; for Meer Jaffier, though seated on the throne of Bengal, was our mere instrument.JOSEPH MALLORD WILLIAM TURNER. (After the Portrait by C. Turner.)

TWO:The advice of Pitt prevailed. Ministers determined to bring in two Acts in accordance with his counsels: an Act declaratory of the supreme[189] power of Parliament over the colonies, and another repealing the Stamp Act, on the plea which he had suggested. The Declaratory Act passed readily enough, for all parties agreed in it; but the repeal of the Stamp Act met with stout opposition. Grenville, with the pertinacity of a man who glories in his disgrace, resisted it at every stage. When he was hissed by the people, he declared that "he rejoiced in the hiss. If it were to do again, he would do it!" In the Lords there was a strong resistance to the repeal. Lord Temple, who had now deserted Pitt, supported his brother Grenville with all his might. Lords Mansfield, Lyttelton, and Halifax, the whole Bedford faction, and the whole Bute faction, opposed it. The king declared himself for repeal rather than bloodshed.Nothing could exceed the indignation of the public at the attempt that was being made by the Court, in league with an intriguing faction, to resist the national will. All classes, high and low, rich and poor, nobles and commoners, Churchmen and Dissenters, were roused into a state of wild excitement and fierce determination. Indignation meetings were everywhere held and threatening resolutions passed. The House of Commons was called upon to stop the supplies; placards were put up in the windows of shops expressing the determination of the inhabitants to pay no taxes. This determination was not confined to the middle classes; men of the highest rank and largest property, such as Lord Milton, told the tax-collector not to call again. A complete and active organisation existed in London for the purpose of stimulating and directing public[351] feeling in the provinces, and obtaining from the people vehement petitions, which poured in to both Houses rapidly, especially to the House of Commons. The political unions were everywhere preparing for actual insurrection. In London meetings were held by day and by night, at which the most violent language was used even by persons of property and rank. The Common Council of London met, and passed resolutions denouncing those who had advised the king not to create peers as enemies of their Sovereign, who had put to imminent hazard the stability of the Throne and the security of the country. A standing committee was appointed to watch the course of events. The feeling excited by these extraordinary proceedings proved, beyond the possibility of doubt, that the whole mercantile and trading classes in the metropolis were prepared to adopt revolutionary measures, if such were necessary, for the attainment of the Reform Bill. Immense numbers of persons who had hitherto considered the proceedings of the National Political union in London too violent, were now, says the Times of the 11th of May, at their own solicitation, admitted members. Similar excitement prevailed throughout the provinces.

TWO:The number of places in which the inquiries under the commission were carried on was 237, having a population of 2,028,513. In twenty-five places the number of corporators was not ascertained; in the others (212) they amounted to 88,509. The governing body was self-elected in 186 boroughs. This body elected the mayor in 131 boroughs, appointed the recorder in 136, and the town-clerk in 135. The number of corporators exercising magisterial functions was 1,086, in 188 boroughs. In 112 boroughs the corporations had exclusive criminal jurisdiction, extending to the trial of various descriptions of offences, and in forty-two their jurisdiction was not exclusive. Seventeen boroughs did not enjoy any income whatever; in eight the precise amount could not be obtained. The total income of 212 boroughs amounted to ��366,948; their expenditure to ��377,027. 103 were involved in debts amounting to ��1,855,371, and were besides burdened with annuities amounting to ��4,463. In twenty-eight boroughs only were the accounts published; in fifteen the annual income was under ��20; in eleven it was between ��2,000 and ��3,000; in five, ��3,000, and under ��4,000; in one, ��4,000, and under ��5,000; in four, ��5,000, and under ��7,500; in five, ��10,000, and under ��12,500; in one, ��12,500, and under ��15,000; in one, ��15,000, and under ��20,000; and in one, ��91,000.

TWO:Rt. Hon. J. Toler, a peerage and chief justiceship.

TWO:The Battle of Rosbach raised the fame of Frederick wonderfully all over Europe. He soon roused himself, however, for fresh efforts. Whilst he had been thus engaged on the Saale, the Austrians had again overrun Silesia, defeating the Prussians under the Duke of Bevern, storming the great fortress of Schweidnitz, and making themselves masters of Breslau, the capital. In spite of his reduced numbers and the advancing winter, Frederick immediately directed his march towards Silesia, gathering reinforcements as he went, so that by the 5th of December, just one month from the Battle of Rosbach, he came up with Prince Charles of Lorraine and Marshal Daun at Lissa, a small village near Breslau, and with forty thousand men encountered and defeated nearly seventy thousand Austrians, killing and wounding twenty-seven thousand of them, taking above fifty standards, one hundred cannon, four thousand waggons, and much other spoil. This battle at once freed Silesia from the Austrians, who trooped over the mountains in all haste, and left the victorious king to close this unexampled campaign.