ONE:Before the close of April a great commercial crisis had taken place in England, and Ministers were compelled to make a new issue, by consent of Parliament, of five millions of Exchequer Bills, to assist merchants and manufacturers, under proper security. The sudden expansion of industry which was met by an undue increase of the paper currency rather than bullion, combined[417] with reckless banking, produced the crisis. It was calculated that out of the 350 provincial banks 100 failed. In the circumstances the issue of Exchange Bills was a most successful makeshift.On the return of the king and Carteret, Parliament was opened on the 1st of December. The first trial of the Opposition was on the Address, on which occasion its real strength was not called forth, and this was carried by two hundred and seventy-eight votes against one hundred and forty-nine. But the subject of Hanoverian troops and Hanoverian measures soon displayed its extent and virulence. There was a vehement feeling against everything relating to Hanover, and Pitt lost no time in denouncing Carteret and his measures in the most bitter terms. Pitt's thunder was echoed by others, and the scene in the Commons was described by a spectator as like nothing but a tumultuous Polish Diet. Such was the ferment amid which opened the year 1744, and it soon became evident that the existence of the country was at stake. Preparations had been making for the invasion of England for some time. Cardinal Tencin, the new French Minister, sent Murray of Broughton to James in Rome, to desire him to send his eldest son, Prince Charles, to France to be in readiness for the campaign[87] in England, and in due course the Young Pretender arrived at Gravelines.
THREE:Parliament was suddenly dissolved by the All the Talents Ministry, in the hope of acquiring a better majority, but this hope was not brilliantly realised. The new Parliament assembled on the 19th of December, and, as all now saw that war must go on, both Houses prepared themselves for large votes of supply. According to Windham's statement, we had 125,631 regulars in the army, of whom 79,158 were employed in defending our West India Islands, 25,000 in India, and upwards of 21,000 foreigners in our pay. Besides this, for home defence we had 94,000 militia and fencibles, and 200,000 volunteers; so that altogether we had 419,000 men under arms. It was, therefore, contended, and with reason, that as we had so deeply engaged ourselves in fighting for our Allies on the Continent, with such a force we might have sent 20,000, with good effect, to unite with Alexander of Russia against Buonaparte, and not have let him be repulsed for want of both men and money. This, indeed, was the disgrace of All the Talents, that they put the country to the expense of an enormous war establishment, and did no real service with it. The supplies, however, were freely voted. There were granted, for the navy, 17,400,337; for the regular army, 11,305,387; for militia, fencibles, volunteers, etc., 4,203,327; ordnance, 3,321,216. The number of sailors, including 32,000 marines, was fixed at 130,000.Napoleon, however, called his Champ-de-Mai together for the electors to this anomalous document; but, to add to the incongruity, the assembly was held in the Champ-de-Mars, and not in May at all, but on the 1st of June. There he and his brothers, even Lucien, who had been wiled back to his assistance, figured in fantastic robes as emperor and princes of the blood, and the electors swore to the Constitution; but the whole was a dead and dreary fiasco. On the 4th the two Chambers, that of Peers and that of Representatives, met. The Peers, who were his own officers and picked men, readily agreed to the Constitution; but not so the Chamber of Representatives. They chose Lanjuinais president, who had been a zealous advocate of Louis XVI., and who had drawn up the list of crimes under which Buonaparte's forfeiture had been pronounced in 1814. They entered into a warm discussion on the propriety of abolishing all titles of honour in that Chamber. They rejected a proposition to bestow on Napoleon the title of Saviour of his Country, and they severely criticised the "additional Act," declaring that "the nation would entertain no plans of aggrandisement; that not even the will of a victorious prince should lead them beyond the boundaries of self-defence." In this state of things Buonaparte was compelled to depart, leaving the refractory chamber to discuss the articles of his new Constitution.
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