FORE:Scarcely had Parliament ceased to sit, and the king was gone to spend the summer months in Germany, when the vigilance of the Ministry was demanded to ward off a fresh invasion. Alberoni, defeated in his schemes on France, and his hopes of the invasion of England by Charles XII. crushed by that monarch's death, determined now to make a grand effort to support the Pretender himself. For this purpose, he invited him to Spain, and at the same time began the equipment of a formidable fleet to carry over a Spanish force, under the command of the Duke of Ormonde, to the shores of Britain. The Pretender was not intended to accompany the expedition, but to be in readiness to follow on the first news of its[43] successful landing. But it was no more destined to reach these shores than the Grand Armada. It has always been the fate of invading squadrons to encounter providential tempests in coming hitherward, and the usual hurricane was ready to burst. Scarcely, indeed, had the fleet lost sight of Cape Finisterre before the storm swooped down upon it. For twelve days the terrible Bay of Biscay was swept by a frightful wind, which drove the vessels in all directions, and rendered it impossible to manage them. Fortunate would it have been if every vessel had failed to reach the shores at which they aimed; but two vessels, on board of which were the Earls Marshal and Seaforth, and the Marquis of Tullibardine, accompanied by about three hundred Spanish soldiers, reached Scotland, and landed, on the 16th of April, at Kintail, in Ross-shire. In the hope that Ormonde would still reach England, this small force lay quiet for some time, and so little did they excite notice, that the Government imagined that they had re-embarked. Their presence there, however, had the mischievous effect of exciting some few of the Highlanders to join them. They seized Donan Castle, and thus attracted the attention of the English. Some vessels of war arrived upon the coast. The castle was speedily retaken, and Lord Carpenter, the commander of the forces in Scotland, sent some troops from Inverness against them. General Wightman, the officer thus despatched, was attended by about a thousand men, and found the enemy, now swollen to about two thousand, strongly posted at Glenshiel. He immediately attacked them, and the miscellaneous force speedily dispersed. The Highlanders, who knew the country, rapidly disappeared amongst the hills, and the Spaniards had no other resource than to lay down their arms.The South Sea Company had immediately on the passing of the Bill proposed a subscription of one million, and this was so eagerly seized on that, instead of one, two millions were subscribed. To stimulate this already too feverish spirit in the public, the Company adopted the most false and unjustifiable means. They had eight millions and a half to pay over to Government as a douceur for granting them the management of the Funds; and, therefore, to bring this in rapidly, they propagated the most lying rumours. It was industriously circulated that Lord Stanhope had received overtures at Paris to exchange Gibraltar and Port Mahon for invaluable gold lands in Peru! The South Sea trade was vaunted as a source of boundless wealth in itself. In August the stock had risen from the one hundred and thirty of the last winter to one thousand! Men sold houses and land to become shareholders; merchants of eminence neglected their affairs and crippled their resources to reap imaginary profits. The Company flattered the delusion to the utmost. They opened a third, and even a fourth subscription, larger than the former, and passed a resolution that from next Christmas their yearly dividend should not be less than fifty per cent.! In labouring to increase the public delusion they seem to have caught the contagion themselves, for they began to act, not like men who were blowing a bubble which they knew must speedily burst, but like persons who had mounted permanently into the very highest seat of prosperous power. They assumed the most arrogant and overbearing manner, even towards men of the highest station and influence. "We have made them kings," said a member of Parliament, "and they deal with everybody as such."

Published Aug 30.

FORE:There was a swift drop of their own craft as Jeff dived, came into a good position and zoomed past the yacht, close to it.

Published Aug 28.