FORE:Alberoni despatched Don Joseph Pati?o to Barcelona to hasten the military preparations. Twelve ships of war and eight thousand six hundred men were speedily assembled there, and an instant alarm was excited throughout Europe as to the destination of this not very formidable force. The Emperor, whose treacherous conduct justly rendered him suspicious, imagined the blow destined for his Italian territories; the English anticipated a fresh movement in favour of the Pretender; but Alberoni, an astute Italian, who was on the point of receiving the cardinal's hat from the Pope led Charles (VI.) to believe that the armament was directed against the Infidels in the Levant. The Pope, therefore, hastened the favour of the Roman purple, and then Alberoni no longer concealed the real destination of his troops. The Marquis de Lede was ordered to set out with the squadron for the Italian shores; but when Naples was trembling in apprehension of a visit, the fleet drew up, on the 20th of August, in the bay of Cagliari, the capital of the island of Sardinia. That a force which might have taken Naples should content itself with an attack on the barren, rocky, and swampy Sardinia, surprised many; but Alberoni knew very well that, though he could take, he had not yet an army sufficient to hold Naples, and he was satisfied to strike a blow which should alarm Europe, whilst it gratified the impatience of the Spanish monarch for revenge. There was, moreover, an ulterior object. It had lately been proposed by England and Holland to the Emperor, in order to induce him[40] to come into the Triple Alliance and convert it into a quadruple one, to obtain an exchange of this island for Sicily with the Duke of Savoy. It was, therefore, an object to prevent this arrangement by first seizing Sardinia. The Spanish general summoned the governor of Cagliari to surrender; but he stood out, and the Spaniards had to wait for the complete arrival of their ships before they could land and invest the place. The governor was ere long compelled to capitulate; but the Aragonese and the Catalans, who had followed the Austrians from the embittered contest in their own country, defended the island with furious tenacity, and it was not till November, and after severe losses through fighting and malaria, that the Spaniards made themselves masters of the island. The Powers of the Triple Alliance then intervened with the proposal that Austria should renounce all claim on the Spanish monarchy, and Spain all claim on Italy. Enraged at this proposal, Alberoni embarked on extensive military preparations, and put in practice the most extensive diplomatic schemes to paralyse his enemies abroad. He won the goodwill of Victor Amadeus by holding out the promise of the Milanese in exchange for Sicily; he encouraged the Turks to continue the war against the Emperor, and entered into negotiations with Ragotsky to renew the insurrection in Hungary; he adopted the views of Gortz for uniting the Czar and Charles of Sweden in peace, so that he might be able to turn their united power against the Emperor, and still more against the Electorate of Hanover, thus diverting the attention and the energies of George of England. Still further to occupy England, which he dreaded more than all the rest, he opened a direct correspondence with the Pretender, who was now driven across the Alps by the Triple Alliance, and promised him aid in a new expedition against Britain under the direction of the Duke of Ormonde, or of James himself. In France the same skilful pressure was directed against all the tender places of the body politic. He endeavoured to rouse anew the insurrection of the Cevennes and the discontents of Brittany. The Jesuits, the Protestants, the Duke and Duchess of Maine, were all called into action, and the demands for the assembling of the States-General, for the instant reformation of abuses, for reduction of the national debts, and for other reforms, were the cries by which the Government was attempted to be embarrassed.
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FORE:The winter of 1836-7 was marked by great commercial activity, and a strong tendency to over-trading, chiefly on the part of the banks. The result was a reaction, and considerable monetary embarrassment. In the reckless spirit of enterprise which led to these consequences, the American houses took the lead. The American speculators indulged an inordinate thirst for gain by land jobs, and over-trading in British produce. The most remarkable examples of this were afforded by three great American houses in London, called "the three W.'s." From an account of these firms, published in June, 1837, it appeared that the amount of bills payable by them from June to December, was as follows: Wilson and Co.,[411] 936,300; Wigan and Co., 674,700; Wildes and Co., 505,000; total acceptances, 2,116,000. This was upwards of one-sixth of the aggregate circulation of the private and joint-stock banks of England and Wales, and about one-eighth of the average circulation of the Bank of England. The shipments to America by Wigan and Co. amounted to 1,118,900. The number of joint-stock banks that started into existence at this time was remarkable. From 1825 to 1833 only thirty joint-stock banks had been established. In that year the Charter of the Bank of England being renewed, without many of the exclusive privileges it formerly enjoyed, and the spirit of commercial enterprise being active, joint-stock banks began to increase rapidly. There was an average of ten new companies annually, till 1836, when forty-five of these establishments came into existence in the course of ten months. In Ireland there were ten started in the course of two years. The consequence of this greatly increased banking accommodation produced a wild spirit of commercial adventure, which collapsed first in America, where the monetary confusion was unexampledbankers, importers, merchants, traders, and the Government having been all flung into a chaos of bankruptcy and insolvency. This state of things in America had an immediate effect in England. Discounts were abruptly refused to the largest and hitherto most respectable houses of Liverpool and London. Trade, in consequence, became paralysed; prices suddenly dropped from thirty to forty per cent.; and the numerous share bubblesthe railway projects, the insurance companies, the distillery companies, the cemetery companies, the sperm oil, the cotton twist, zoological gardens, and other speculationswhich had floated on the pecuniary tide, all suddenly collapsed, and there was an end to the career of unprincipled adventurers. It is satisfactory, however, to observe that the sound commerce of the country soon recovered the shock thus given; and in less than two years the pecuniary difficulties had passed away. Commerce had resumed its wonted activity, and flowed steadily in legitimate channels. The American banks resumed payment, and the three great American houses, which had involved themselves to such an enormous extent, were enabled to meet all their liabilities.
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FORE:In Andalusia, the French under Sebastiani held Malaga and Granada; but more eastward, the Spanish made a very troublesome resistance. It was in vain that Sebastiani marched into the mountains of Murcia to disperse the forces that Blake was again collecting there. Beaten in one place, they appeared in another. A strong force, under General Lacey, surprised a body of six thousand French at Ronda, and put them to flight, securing their arms and stores. In Catalonia, General O'Donnell stood his ground well, the country not only being by nature strong, but lying along the coast, where the British could support them by their fleets. Rushing from their hills and mountain forts, the Catalonian militia continually inflicted severe chastisement on the French invaders, and then retired to their fortresses. Marshals Suchet, Augereau, and Macdonald found it impossible to make permanent head against O'Donnell and the Catalonians. In fact, though Spain might seem to be conquered, having no great armies in the field, it was never less soand that Buonaparte felt. Wherever there were hills and forests, they swarmed with sharpshooters. For this species of warfarethe guerillathe Spanish were peculiarly adapted. The mountaineers, headed by the priest, the doctor, or the shepherd, men who, in spite of their ordinary habits, had a genius for enterprise, were continually on the watch to surprise and cut off the enemy. Other bodies of them were led by men of high birth, or of military training, but who were distinguished for their superior spirit and endurance of fatigue. These leaders had the most perfect knowledge of the woods and passes of the mountains, and had the most immediate information from the peasantry of the movements of the French. They could, therefore, come upon them when totally unlooked-for, and cut them off suddenly. If they were repulsed they disappeared like shadows into the forests and deserts. Sometimes they came several thousand strong; sometimes a little band of ten or twenty men would dash forward from their concealment and effect some startling deed. To chase them appeared hopeless, for they vanished in a thousand ways, as water sinks into the earth and disappears. To intimidate them, Soult published a proclamation that he would treat them as bandits, and immediately shoot all that he captured; and the commanders replied by another proclamation that for every Spaniard shot they would execute three Frenchmen; and they so literally fulfilled their threat that the French were compelled to return to the ordinary rules of warfare.
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THREE:Mr. Smith O'Brien, early in July, gave occasion for another great debate on the state of Ireland, by moving that the House resolve itself into a committee for the purpose of taking into consideration the causes of the discontent prevailing there, with a view to the redress of grievances, and the establishment of a system of just and impartial government in that part of the United Kingdom. The honourable gentleman reviewed the history of the country since the union, discussed the questions of the National Debt and taxation, the Church Establishment, the position of the Roman Catholic hierarchy, Government appointments, Coercive Acts, and land tenure. Lord Eliot, then Chief Secretary of Ireland, answered his arguments at length. A great number of speakers followed, continuing the debate for five nights. At length the House divided, when the numbers wereagainst the motion for a committee, 243; for it, 164. The whole of these vexed questions again came up on the 9th of August, when the Irish Arms Bill was set down for the third reading. On this occasion Sir Robert Peel made some remarks, expressing the feeling of his Government with regard to Ireland, declaring that he viewed the state of things there with deep anxiety and pain. He had hoped that there was a gradual abatement of animosity on account of religious differences; that he saw the gradual influence of those laws which removed the political disabilities of Catholics and established civil equality. He thought he saw, in some respects, a great moral and social improvement; that there was a hope of increasing tranquillity, which would cause the redundant and superfluous capital of England, then seeking vent in foreign and precarious speculations, to flow into Ireland. But the agitation had, in his opinion, blasted all those hopes.
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