Before he withdrew, the king, who retained his high opinion of his political wisdom, consulted him on the constitution of the new Cabinet. Walpole recommended that the post of First Lord of the Treasury, including the Premiership, should be offered to Pulteney, as the man of the most undoubted talent. If he should refuse it, then that it should be given to Lord Wilmington, who, though by no means capable of directing affairs by his own energy, was of a disposition which might allow them to be conducted by the joint counsel of his abler colleagues. The king consented that the Premiership should be offered to Pulteney, though he hated the man, but only on this condition, that he pledged himself to resist any prosecution of the ex-Minister. Pulteney declined the overture on such a condition, for though he said he had no desire to punish Walpole, he might not be able to defend him from the attacks of his colleagues, for, he observed, "the heads of parties, like those of snakes, are carried on by their tails." The king then sent Newcastle to Pulteney, and it was agreed to allow Wilmington to take the post of First Lord of the Treasury. Carteret thought that this office was more due to him, but Pulteney declared that if Wilmington were not permitted to take the Premiership he would occupy it himself, and Carteret gave way, accepting the place of Secretary of State, with the promise that he should manage in reality the foreign affairs. In[80] all these arrangements the king still took the advice of Walpole, and Newcastle was instructed to again endeavour to draw from Pulteney a promise that he would at least keep himself clear of any prosecution of the late Minister. Pulteney evaded the question by saying that he was not a bloody or revengeful man; that he had always aimed at the destruction of the power of Walpole, and not of his person, but that he still thought he ought not to escape without some censure, and could not engage himself without his party.
THE FRENCH REVOLUTION: COSTUME " LA ROBESPIERRE."Of course, the commercial changes introduced by Mr. Huskisson and Mr. Robinson excited loud murmurs of dissatisfaction from the interests affected, especially the shipping interest. But the best answer to objectors was the continuously flourishing state of the country. At the opening of the Session in 1825, Lord Dudley and Ward, in moving the Address in answer to the King's Speech in the Upper House, observed:"Our present prosperity is a prosperity extending to all orders, all professions, and all districts, enhanced and invigorated by the flourishing state of all those arts which minister to human comfort, and those inventions by which man obtains a mastery over nature by the application of her own powers, and which, if one had ventured to foretell a few years ago, it would have appeared almost incredible." This happy state of things was the result of a legitimate expansion of trade. Manufacturers and merchants were at first guided by a spirit of sober calculation. The steady advance in the public securities, and in the value of property of all sorts, showed that the national wealth rested upon a solid basis. The extension of the currency kept pace with the development of trade and commerce, and the circulation of bankers' paper was enormously increased. But out of the national prosperity there arose a spirit of rash speculation and adventure, resulting in a monetary crisis. The issue of notes by country banks was under no restriction; no measures were taken to secure that their paper represented property, and could be redeemed if necessary. There were hundreds of bankers in the provinces who could issue any quantity of notes they pleased, and these passed as cash from hand to hand. The spirit of speculation and enterprise was stimulated to a feverish degree of excitement by the recognition of the states of Colombia, Mexico, and Buenos Ayres, formally announced in the King's Speech on the 3rd of February, which said that treaties of commerce had been made with those new states. The rich districts of South America being thus thrown open, there was a rush of capitalists and adventurers to work its inexhaustible mines. A number of companies was formed for the purpose, and the gains of some of them in a few months amounted to fifteen hundred per cent. The result was a mania of speculation, which seized upon all classes, pervaded all ranks, and threw the most sober and quiet members of society into a state of tumultuous excitement. Joint-stock companies almost innumerable were established, to accomplish all sorts of undertakings. There were thirty-three companies for making canals and docks, forty-eight for making railroads, forty-two for gas, twenty insurance companies, twenty-three banking companies, twelve navigation packet companies, five indigo and sugar companies, thirty-four metal companies, and many others. The amount of capital subscribed in these various companies, which numbered two hundred and seventy-six, was upwards of 174,000,000. In connection with South America there was the Anglo-Mexican Company, the Brazilian, the Colombian, Real de Monte, and the United Mexican. On the South American shares only ten pounds each had been paid, except the Real de Monte, on which 70 had been paid. We may judge of the extent to which gambling speculation was carried from the following statement of the market prices of the shares, in five of the principal mining companies[243], at two periods, December 10th, 1824, and January 11th, 1825:
ONE:No sooner was this motion made than Spencer Perceval rose to oppose it. Sidmouth worked upon the king's feelings by sending in his resignation, and the Duke of Portland had offered to form a Ministry in accordance with the king's feelings. The Bill was, notwithstanding, brought in, read a first time, and the second reading fixed for the 12th of March. But now it was found that the king, who had previously received the Ministerial proposal without any comment, seeing his way clear with another Ministry, refused even his qualified consent to the prosecution of the measure. The Ministers postponed the second reading to the 18th, promising an after-statement of their reasons. But their reasons were already well known in both Houses of Parliament through the private communications of the embryo Cabinet. On the 25th of March there were motions made in both Houses for an adjournment: this was to allow the new Ministry to be announced in the interval. In the Lords, Earl Grenville seized the opportunity to make some observations in defence of the conduct of his Cabinet during its possession[534] of office. He said they had entered it with the determination to carry these important measures, if possible: the Sinking Fund, the abolition of the Slave Trade, and the relief of the Catholics. He was happy to say that they had carried two of them; and though they had found the resistance in a certain quarter too strong for them to carry the third, they conceived that never did the circumstances of the times point out more clearly the sound policy of granting it. France had wonderfully extended her power on the Continent; peace between her and the nations she had subdued would probably lead Buonaparte to concentrate his warlike efforts on this country. What so wise, then, as to have Ireland attached to us by benefits? With these views, the king, he said, had been induced to allow Ministers to make communications to the Catholics of Ireland through the Lord-Lieutenant, which he had seemed to approve; yet when these communications as to the intended concessions had been made, his Majesty had been induced to retract his assent to them. Ministers had then endeavoured to modify the Bill so as to meet his Majesty's views; but, not succeeding, they had dropped the Bill altogether, reserving only, in self-justification, a right to make a minute on the private proceedings of the Cabinet, expressing their liberty to bring this subject again to the royal notice, as circumstances might seem to require; but now his Majesty had called upon them to enter into a written obligation never again to introduce the subject to his notice, or to bring forward a measure of that kind. This, he said, was more than could be expected of any Ministers of any independence whatever. The point was, of course, of some constitutional importance, but there was much truth in Sheridan's remark: "I have often heard of people knocking out their brains against a wall, but never before knew of anyone building a wall expressly for the purpose."
ONE:These acquisitions were more valuable for the defence which they afforded the British than for the direct income, which did not amount to more than half a million sterling a year; but they included all Tippoo's dominions on the coast of Malabar, thus cutting off his mischievous communications with the French by sea. It would have been easy at this time to have stripped Tippoo of the whole of Mysore, but it was not deemed politic. We were far from having great faith in the continued fidelity of the Mahrattas, and it was thought necessary not to remove the check which the existence of Tippoo's power, and his desire for revenge on the Mahrattas, presented. Besides, the finances of India were in a very embarrassed state, and the question of Indian war was unpopular in Britain. With all the territory resigned to the Indian allies, Lord Cornwallis could not avoid giving deep offence to the Mahrattas, who desired to obtain a regiment of British troops in pay. The ill-concealed jealousy between them and the Nizam made an outbreak between these States very possible; and the moody resentment of Tippoo, who writhed under his humiliation, added greatly to the uncertainty of long-continued peace. On the other hand, the soldiers were highly discontented at not having had the opportunity of plundering the opulent city of Seringapatam; and to soothe them Cornwallis and General Medows, the second in command, surrendered to them their shares of prize money, and the former ordered them, besides, six months' batta out of the money paid by Tippoo.[102]
THREE:This was a thunderstroke to Hastings and his friends. Fifty of Pitt's followers immediately wheeled round with him; Dundas voted with Pitt, and the motion was carried by an exact inversion of the numbers which had negatived the former article on the Rohilla war, one hundred and nineteen against sixty-seven. The Session closed on the 11th of July with the rest of the charges hanging over the ex-Governor's head in ominous gloom.
The effect of the issue upon the state of parties in England was tremendous. The Morning Chronicle, then the organ of the Whig party, said, "The battle of English liberty has really been fought and won at Paris." The Times thundered the great fact with startling reverberation throughout the United Kingdom. Mr. Brougham in the House of Commons spoke of it as that revolution which in his conscience he believed to be "the most glorious" in the annals of mankind, and he expressed his heartfelt admiration, his cordial gratitude, to the patriots of that great nation for the illustrious struggle they were making. This language expresses the feelings which prevailed through all classes of the people of Britain, and it may be easily supposed that the effect was most favourable to the Liberal party and most damaging to the Tories, especially as the exciting events occurred at the time of the general election; and Prince de Polignac being considered the particular friend of the Duke of Wellington, his Ministry was called in France the Wellington Administration. All these things were against the Premier: the hostility of the anti-Catholic party, the alienation of the Whigs, the accession of a liberal monarch, and the odium of the supposed intimate relationship with the vanquished despotism of France.The complaints of agricultural distress prevalent in England, with the sudden reaction from war prices at the establishment of peace, had become so loud and general this year that Parliament undertook to find a remedy. An agricultural committee had been appointed to inquire into the subject, and had produced a report which was far from satisfactory. On the 29th of April the House of Commons resolved itself into a committee to consider the report. Three different schemes were proposed for the relief of the farmers and landlordsthe first by the Marquis of Londonderry, the second by Mr. Ricardo, and the third by Mr. Huskisson. There was no scarcity of produce in England; on the contrary, it was very abundant, and the evil that oppressed the farmers was excessive cheapness, by which they were disabled from paying the high rents and heavy taxation entailed by the war. Some of the remedies proposed were sufficiently radical in their character. The most natural was the reduction of taxation by means of retrenchment in the public expenditure. Some proposed that the tithes should be alienated from the Church, and used for the purpose of reducing the national burdens. The largest party insisted upon the reduction of the interest of the National Debt, which was defended as an equitable measure on the ground of the increased value of the currency since the passing of Peel's Bill for the resumption of cash payments. The plan of relief proposed by Lord Londonderry consisted of the repeal of the annual malt tax, and the loan of a million by Exchequer Bills to the landed interest upon the security of warehoused corn.Whilst these frightful horrors were taking place, Russia, Prussia, and Austria had been completing the extinction of Poland. An ill-advised attempt by the Poles for the recovery of their country had precipitated this event. The Russian Minister in Poland had ordered the reduction of the little army of that country, under its now almost nominal king, Stanislaus Augustus, from thirty thousand to fifteen thousand. The Poles resented this, without considering that they were unable, at the moment, to resist it. Kosciusko was appointed Commander-in-Chief, and he issued an order for the rising of the people in every quarter of Poland, and for their hastening to his flag. At first, the enthusiasm of the call to liberty and to the rescue of the common country gave some brilliant successes. Kosciusko, on his march from Cracow to Warsaw, at the head of only four thousand men, encountered a Russian army of upwards of twelve thousand, and defeated it with a slaughter of three thousand of the enemy. On the 17th of March, 1794, the Polish troops in Warsaw attacked the Russian garrison, eight thousand strong, and slaughtering more than half of them, drove the rest out of the city, and Kosciusko marched in soon afterwards. A week later the population of Lithuania, Kosciusko's native province, rose, and drove the Russians with much slaughter from Wilna, its capital. But this could not save Poland: its three mighty oppressors were pouring down their multitudinous legions on every portion of the doomed country. The Emperor of Austria marched an army into Little Poland at the end of June, and an army of fifty thousand Russians and Prussians was in full march on Warsaw. For a time, Kosciusko repulsed them, and committed great havoc upon them on the 27th of July; again, on the 1st and 3rd of August. At the same time, Generals Dombrowski, Prince Joseph Poniatowski, and other Polish generals, were victorious in different quarters, and the King of Prussia was compelled to draw off his army, forty thousand strong, from Warsaw, in order to recover Great Poland. This gleam of success on the part of the Poles, however, was but momentary. Their army in Lithuania, commanded by corrupt, gambling, and gormandising nobles, was beaten at all points by the Russians, and driven out of Wilna on the 12th of August. At the same time, the savage Suvaroff, the man who had cried "Glory to God and the Empress!" over the ruthless massacre of Ismail, was marching down on Warsaw. Kosciusko had unwisely weakened his army by sending a strong detachment under Dombrowski into Great Poland, and, attacking a Russian force under Count Fersen, at Macziewice, about fifty miles from Warsaw, on the 17th of September, he was utterly routed. He had only about twenty thousand men, whilst Fersen had at least sixty thousand. But Kosciusko was anxious to prevent the arrival of Suvaroff before the engagement, and thus rushed into battle with this fatal inequality of strength. He was left for dead on the field, but was discovered to be alive, and was sent prisoner to St. Petersburg, where he was confined till the accession of the Emperor Paul, who set him at liberty. The fall of Kosciusko was the fall of Poland. Not even Kosciusko could have saved it; but this catastrophe made the fatal end obvious and speedy. Still the Poles struggled on bravely against such overwhelming forces for some months. The ultimate partition treaty was at length signed on the 24th of October, 1795; some particulars regarding Cracow, however, not being settled between Prussia and Austria till the 21st of October, 1796. Stanislaus Augustus was compelled to abdicate, and he retired, after the death of Catherine, to St. Petersburg, with a pension of two hundred thousand ducats a year. He died there in the month of February, 1798, only about fifteen months after his former mistress, the Czarina. And thus Poland was blotted out of the map of nations.[See larger version]
