ONE:Walpole, however, continued to oppose the South Sea Bill in the Commons, declaring that the terms were too extravagant ever to be fulfilled; that the experiment could result in nothing but a fearful increase of the costs of stockjobbing, and final confusion and ruin. He insisted that, before the proposals of the Company were accepted,[47] the rise of their stock should be limited, and every means taken to prevent the fever of infatuation that would ensue from the promise of dividends out of funds which could never be realised. He proposed for this purpose the introduction of a clause fixing the number of years' purchase to be granted to the annuitants of the South Sea Company; but to this it was objected that it was the interest of the Company to take up the annuities; and, as the annuitants had the power of coming in or not, as they pleased, the Company would, of course, offer advantageous terms, and, therefore, the whole affair might be safely left to private adjustment. Aislabie added that the South Sea Company would not submit to be controlled in an undertaking they were to pay so dear for. The Bill passed both Houses.
TWO:Parliament met on the 17th of January, 1727. The Royal Speech breathed a decidedly warlike tone. The king informed Parliament that he had received information, on which he could rely, that a secret article of the treaty between Spain and the Emperor bound those parties to place the Pretender on the throne of Great Britain, and that the surrender of Gibraltar and Port Mahon was the price to be paid for this service. He asked whether the public would not regard with indignation the imposition of a Popish Pretender on the nation at such a cost. He added that the King of Spain had ordered his Ambassador to quit the kingdom, leaving behind him a formal demand for the surrender of the above-named places. There was a great ferment in the House. Palm, the Emperor's envoy, wrote to his Imperial master, advising him to disavow any such secret agreement in the treaty at Vienna, and thus allay the excitement in England. But Charles, who owed his throne to the victories of Marlborough, and whose claims on Spain had been prosecuted by Britain at serious cost of men and money, performed this disavowal with as much arrogance as stupidity. He was not contented to say that the King of England was mistaken, but he declared that his speech was false. This gross insult to the head of the nation roused the indignation of all parties, even of the Opposition; and Wyndham, Pulteney, and Shippen denounced it as loudly as any, and supported a motion of Walpole, declaring it an insolent affront. Palm was ordered to quit the kingdom immediately.
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TWO:Good gracious golly! gasped Dick.
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TWO:
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TWO:The flight back to the landing field was without event. Larry made the landing first, and his companions tumbled out to join the waiting cluster of people while they all took hold to run the airplane out of the way so that the spiraling amphibian, its wheels down, could shoot the flare-lit field, and land.Not so Sandy!
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