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A question was opened in the House of Commons, on a motion of Mr. Western, which often subsequently occupied its attention. It referred to the effect on prices of Mr. Peel's Act of 1819 for the resumption of cash payments. According to the views of Mr. Western and Mr. Attwood, the value of money had been enormously increased by the resumption of payments in specie by the Bank, and its necessary preliminary, a diminution of the circulation. Prices had in consequence fallen; rents, taxes, annuities, and all fixed[225] payments become more onerous. These views were opposed by Huskisson, Peel, and Ricardo, and, on the motion of the first-named, a resolution was carried, by one hundred and ninety-four to thirty, "That this House will not alter the standard of gold or silver in fineness, weight, or denomination."

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TWO:The unnatural state of things induced by the war had now brought about a great change in our currency. As we could manage to get in our goods to the Continent by one opening or another, but could not get the produce of the Continent in return, it would have appeared that we must be paid in cash, and that the balance of specie must be in our favour; but this was not the case. By our enormous payments to our troops in Spain, Portugal, and Sicily, as well as in the East and West Indies, and by our heavy subsidies, gold had flowed out of the country so steadily that there appeared very little left in it, and bank paper had taken its place. On the Continent, impoverished as they were, the people tenaciously clung to their gold, and Buonaparte alone could draw it from them in taxes. He always took a heavy military chest with him on his expeditions, and his officers also carried the money necessary for themselves in their belts, or otherwise about their immediate persons. The gold being enormously diminished in quantity in England, was carefully hoarded on all hands, thus again increasing the scarcity, and raising the value of it. The price of bullion had risen from twenty to thirty per cent., and here was a further strong temptation to hoard or send guineas to the melting-pot. This state of things led a certain class of political economists to call for a repeal of the Act for suspension of cash payments, and Francis Horner obtained a committee of inquiry into the causes of the decrease of gold and the increase of paper: and this committee came to the conclusion that the true cause of the evil lay in the excess of paper, and that the way to restrain it would be to allow the demand for gold at the Bank. But the truth was that the cause of the evil was not the excess of paper, but the enormous diminution of gold; and to have opened a legal demand for gold which could not be had would only have produced a panic, and a complete and horrible assassination of all credit and all business. But there were clearer-sighted men in Parliament, who declared that, though bullion had risen in price, bank-notes would still procure twenty shillings' worth of goods in the market, and that they were not, therefore, really depreciated in value. That was true, but guineas had, notwithstanding, risen to a value of five- or six-and-twenty shillings, and might be sold for that. Gold had risen, but paper had not fallen; and gold could not take the place of paper, because it did not, to any great extent, exist in the country; if it had, paper must have fallen ruinously. Mr. Vansittart and his party, therefore, moved resolutions that the resumption of cash payments being already provided for six months after the conclusion of peace, was an arrangement which answered all purposes, and ought not to be disturbed; that this would keep all real excess of paper in check, and leave gold to resume its circulation when, by the natural influence of peace, it flowed again into the country. These were, accordingly, carried.

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THREE:

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THREE:DUEL BETWEEN THE "GUERRIRE" AND THE "CONSTITUTION." (See p. 36.)The manner in which Hastings had executed the orders of the Directors in this business showed that he was prepared to go all lengths in maintaining their interests in India. He immediately proceeded to give an equally striking proof of this. We have seen that when the Mogul Shah Allum applied to the British to assist him in recovering his territories, they promised to conduct him in triumph to Delhi, and place him firmly on the grand throne of all India; but when, in consequence of this engagement, he had made over to them by a public grant, Bengal, Bahar, and Orissa, they found it inconvenient to fulfil their contract, and made over to him Allahabad and Corah instead, with an annual payment of twenty-six lacs of rupeestwo hundred and sixty thousand pounds. The payment of this large sum, too, was regarded by the Company, now in the deepest debt, as unnecessary, and Hastings had orders to reduce it. It appears that the money was at no time duly paid, and had now been withheld altogether for more than two years. The Mogul, thus disappointed in the promises of restoration by the English, and now again in the payment of this stipulated tribute, turned to the Mahrattas, and offered to make over the little provinces of Allahabad and Corah, on condition that they restored him to the sovereignty of Delhi. The Mahrattas gladly caught at this offer, and by the end of the year 1771 they had borne the Mogul in triumph into his ancient capital of Delhi. This was precisely such a case as the Directors were on the watch for. In their letter to Bengal of the 11th of November, 1768, they had said: "If the Emperor flings himself into the hands of the Mahrattas, or any other Power, we are disengaged from him, and it may open a fair opportunity of withholding the twenty-six lacs of rupees we now pay him." The opportunity had now come, and was immediately seized on by Hastings to rescind the payment of the money altogether, and he prepared to annex the two provinces of Allahabad and Corah. These were sold to the Nabob of Oude for fifty lacs of rupees. This bargain was settled between the vizier and Hastings at Benares, in September, 1773.

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THREE:

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THREE:The success of the revolt against the French in Spain was certain to become contagious in Portugal. Junot was holding the country with an army of thirty thousand men, amongst whom there was a considerable number of Spanish troops, who were sure to desert on the first opportunity after the news from Spain. What Buonaparte intended really to do with Portugal did not yet appear. The conditions of the Treaty of Fontainebleau remained a dead letter. He had established neither the Queen of Etruria nor the Prince of the Peace in their kingdoms there. The likelihood was that, as soon as Spain was secure, he would incorporate Portugal with it. This seemed very probably his intention, from words that he let fall at an Assembly of Portuguese Notables, whom he had summoned to meet him at Bayonne. The Count de Lima, the president of the Assembly, opened it with an address to Napoleon, who listened with great nonchalance, and then said, "I hardly know what to make of you, gentlemen; it must depend on the events in Spain. And, then, are you of consequence sufficient to constitute a separate people? Have you enough of size to do so? What is the population of Portugal? Two millions, is it?" "More than three, sire," replied the Count. "Ah, I did not know that. And Lisbonare there a hundred and fifty thousand inhabitants?" "More than double that number, sire." "Ah, I was not aware of that. Now, what do you wish to be, you Portuguese? Do you desire to become Spaniards?" "No!" said the Count de Lima, bluntly, and drawing himself up to his full height. Then Buonaparte broke up the conference.

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THREE:Coote landed at Madras at the beginning of November. A council was immediately called, Whitehill was removed from the government of the Presidency, and the member of Council next in seniority appointed. Coote had brought with him only five hundred British troops and six hundred Lascars. The whole force with which he could encounter Hyder amounted only to one thousand seven hundred Europeans and five thousand native troops. Coote, whose name as the conqueror of the French at Wandewash and Pondicherry struck terror into Hyder, soon resumed his triumphs on his old ground, driving the enemy from[331] Wandewash. Hearing then of the arrival of the French armament off Pondicherry, he marched thither, and posted himself on the Red Hills. The French fleet, consisting of seven ships of the line and four frigates, was anchored off the place. But the French squadron having sailed away for the Isle of France, from apprehension of the approach of a British fleet, Hyder retreated, and, entering the territory of Tanjore, laid it waste, while his son, Tippoo, laid siege again to Wandewash. Hyder was again encouraged to advance, and on the 6th of July, 1781, Coote managed to bring him to action near Porto Novo, and completely routed him and his huge host, though he had himself only about eight thousand men. Hyder retired quite crestfallen to Arcot, and ordered Tippoo to raise the siege of Wandewash.[See larger version]

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THREE:

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TWO:During this time Britain was suffering severely from the effects of the war. The nation was indignant under the disgrace of the complete defeat of its army on the Continent, at the defection of those very Allies who had been so profusely subsidised, at the perfidy by which these despot Powers had made Britain the efficient party in the dismemberment of Poland, and at the heavy taxes imposed in consequence. Political meetings were held in most large towns and in the metropolis, expressing the most decided disapprobation of the policy of Ministers and at the refusal of all reforms. At the end of June a monster meeting had been held in St. George's Fields, and on the 26th of October, another, of fifty thousand people, near Copenhagen House, at which the lately prosecuted but acquitted agitators, Thelwall, Gale Jones, and others, were the speakers. The numbers and tone of these meetings, which were accompanied with loud cries of "Bread! Bread!" and "Down with Pitt!" greatly alarmed Government, and there was a summons of Parliament at the unusually early date of October 29th, only three days after the meeting in Copenhagen Fields. On going to the House to open the session, the kingwho had become very unpopular from his eager support of the war, and his going about saying, "The French won't leave a single crowned head in Europe!"was shot at with an air-gun in Margaret Street, opposite to the Ordnance Office, the ball from which passed through the windows of the carriage, between his Majesty and the Earl of Westmoreland. The king on entering the House, exclaimed to the Lord Chancellor, "My lord, I have been shot at!" As the king returned, he was again furiously hissed; there was the same vociferous shouting of "Bread! Bread!" and "No Pitt!" Stones were thrown at the royal carriage; and, in the haste and confusion to escape into the palace of St. James's, one of the royal grooms was thrown to the ground, and had his thigh broken. The king got into a private coach to regain Buckingham House, where his family was; but he was recognised, and pursued by the same cries of "Bread! Bread!" and "Peace!" That evening the king, who had[449] behaved throughout with great courage, accompanied the queen and three of his daughters to Covent Garden Theatre, where he was received with zealous acclamations; the actors sang "God save the king!" three times over. Some of the people in the gallery were, however, pretty vehement in their hisses, but were attacked and turned out.MARSHAL BLUCHER. (From the Portrait by Sir Thomas Lawrence, P.R.A.)

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THREE:The intelligence of this result was received by the public with transports of joy. London was illuminated for three successive nights; Edinburgh, Dublin, Manchester, Liverpool, and all the great towns followed the example. "For several days," says Alison, "the populace in all the cities of the empire seemed to be delirious with joy. Nothing had been seen like it before since the battle of Waterloo; nothing approaching to it after since the Reform Bill was passed." Meetings were immediately called in every direction to present addresses both to the king and queen: to the former, to congratulate him on the escape of his illustrious consort, and to call upon him to dismiss his present Ministers; and to the latter, to congratulate her on the restoration of those dignities from which she had been so long excluded. Not only public meetings of citizens and civic bodies, but trades of all kinds assembled and adopted addresses expressing their exultation at her triumph, and tendering their homage.

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THREE:The Government now resolved to follow up the vigorous step they had so tardily taken, by the prosecution of O'Connell and several leading members of the Association. They were arrested in Dublin on the 14th of October, charged with conspiracy, sedition, and unlawful assembly. The other gentlemen included in the prosecution were Mr. John O'Connell, Mr. Thomas Steele, Mr. Ray, Secretary to the Repeal Association, Dr. Gray, proprietor of the Freeman's Journal, Mr. Charles Gavan Duffy, editor of the Nation, Mr. Barrett, of the Pilot, and the Rev. Messrs. Tyrrell and Tierney, Roman Catholic priests. Mr. O'Connell, with his two sons and several friends, immediately on his arrest, went to the house of Mr. Justice Burton, and entered into recognisances, himself in 1,000, with two sureties of 500 each. The tone of Mr. O'Connell was now suddenly changed. From being inflammatory, warlike, and defiant, it became intensely pacific, and he used his utmost efforts to calm the minds of the people, to lay the storm he had raised, and to soothe the feelings he had irritated by angry denunciations of the "Saxon." That obnoxious word was now laid aside, being, at his request, struck out of the Repeal vocabulary, because it gave offence. Real conciliation was now the order of the day.CHARTISTS AT CHURCH. (See p. 456.)

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THREE:Whilst Burgoyne had been looking in vain for aid from New York, Sir Henry Clinton, at length daring the responsibility of a necessary deed, had set out with three thousand men, in vessels of different kinds, up the Hudson. On the 6th of Octobereleven days before Burgoyne signed the capitulationClinton set out. Leaving one thousand men at Verplank's Point, he crossed to the other bank with his remaining two thousand, and landed them at Stony Point, only twelve miles from Fort Montgomery. He advanced with one-half of his force to storm Fort Clinton, and dispatched Lieutenant-Colonel Campbell to attack Fort Montgomery. Both forts were to be[245] attacked, if possible, at the same instant, to prevent the one from aiding the other. The simultaneous assaults took place about sunset. Lieutenant-Colonel Campbell was killed leading his column against Fort Montgomery, but his brave troops entered and drove the garrison of eight hundred men from the place. Clinton found the approach to the fort of his own name much more arduous. But on went our brave fellows till they reached the foot of the works, where, having no ladders, they hoisted one another on their shoulders to the embrasures, through which they pushed past the cannon, and drove the Americans from their guns, and across the rampart, at the points of their bayonets. It was dark by the time the forts were taken, but the Americans soon threw light enough on the scene by setting fire to several vessels which were moored close under the guns of the forts. Had the English been disposed to risk the attempt to save them, they were prevented by several strong booms and chains thrown across the river. These they afterwards broke through, and, on the 13th of October, at the very moment that Burgoyne was making his first overtures for surrender, the English troops under General Vaughan ascended, in small frigates, as far as Esopus Creek, only thirty miles overland to Saratoga. But Burgoyne having now surrendered, and Gates being at liberty to send down strong reinforcements to co-operate with Putnam, the English vessels and troops were recalled, and returned to New York. Such was the campaign of 1777; equally remarkable for the valour of the British troops, and for their misfortunes; for the imbecility of their Government, and the incapacity or rashness of their commanders.

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"May 10th, 1839.In vain did Poniatowski remonstrate; he had no means of resistance. The Turks could no longer defend themselves from Russian invasion, much less assist Poland. They applied to Frederick to intercede with Catherine for peace for them. Nothing could so entirely suit Frederick's plans. He sent Prince Henry of Prussia to negotiate with Catherine, who took the opportunity to represent to her the advantages to the three great powers, Russia, Prussia, and Austria, strengthening themselves by appropriating portions of Poland. The Russians, relieved from contention with the Poles, now pushed on their victories against the Turks; drove them over the Danube, and seized some of their most fertile provinces. To complete their ruin, they, aided by England, attacked and destroyed their fleet in the Mediterranean.
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