TWO:The following is the general result of the Reform Acts upon the constitution of the Imperial Parliament:In England the county constituencies, formerly 52, returning 94 members, were increased to 82, returning 159 members. The borough members were 341, giving a total of 500 for England. In Ireland the number of the constituencies remained the same, but five members were added, making the total number 105, representing 32 counties and 41 boroughs including the University of Dublin. A second member was given to each of the following:Limerick, Waterford, Belfast, Galway, and Dublin University. The proportion of counties and boroughs in Scotland was 30 and 23, giving a total of 53. All the counties of the United Kingdom returned 253 members, all the boroughs 405, the total number constituting the House of Commons being 658.
THREE:[See larger version]
THREE:The English took the field in the summer of 1763 against Meer Cossim with six hundred Europeans and one thousand two hundred Sepoys. Major Adams, the commander of this force, was vigorously resisted by Meer Cossim, but drove him from Moorshedabad, gained a decided victory over him on the plains of Geriah, and, after a siege of nine days, reduced Monghyr. Driven to his last place of strength in Patna, and feeling that he must yield that, Meer Cossim determined to give one parting example of his ferocity to his former patrons, as, under their protection, he had given many to his own subjects. He had taken prisoners the English belonging to the factory at Patna, amounting to one hundred and fifty individuals. These he caused to be massacred by a renegade Frenchman in his service, named Sombre. On the 5th of October his soldiers massacred all of them except William Fullarton, a surgeon known to the Nabob. The mangled bodies of the victims were thrown into two wells, which were then filled up with stones. This done, the monster Cossim fled into Oude, and took refuge with its Nabob, Sujah Dowlah. The English immediately entered Patna, which was still reeking with the blood of their countrymen, and proclaimed the deposition of[317] Meer Cossim, and the restoration of Meer Jaffier as Nabob of Bengal.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."
- Justine Goliyad
- Justine Goliyad
- Justine Goliyad