The South Sea Company, with a folly of which extreme greed only is capable, endeavoured to put down these rival schemes and obtained an order from the Lords Justices and writs of scire facias against several of these new bubbles. It was like raising a wind to blow away the bubbles, forgetting that their own was a bubble too, and would go with them. The moment that the people began to distrust one they distrusted all. The panic became as great as the mania had been. The South Sea stock dropped in less than a month from one thousand to below six hundred. There was a simultaneous rush to sell out, and the shares must have sunk instantly to nil but for the gigantic exertions of the Company to raise money and buy in. The relief, however, was but temporary. The bankers and pawnbrokers who had advanced money on scrip broke and fled; merchants, goldsmiths, and speculators rushed away after them. Walpole was summoned in haste from Haughton to devise some means of staying the panic. He endeavoured to get the Bank of England to circulate three millions of South Sea bonds for a year; but the Bank, seeing that the case was desperate, declined it. This was decisive. The rage and despair of the swarming dupes were indescribable. They heaped[48] execrations not only on the South Sea Company, but on Ministers, the king, his mistresses, and the Royal Family, who had all been deep in the affair, and who had taken good care of themselves. George landed at Margate on the 9th of November, soon after which the South Sea stock fell to one hundred and thirty-five. On the 8th of December Parliament met, and promptly began to investigate the scandal.
148Whilst these movements had been progressing, very different ones had been in development in the north. The British Government, with the fatality which distinguished nearly all its counsels in this war, had thought proper to take the command of the army destined to operate by way of Canada on the northern colonies, from Sir Guy Carleton, and to confer it on General Burgoyne. The campaign had been plannednot by experienced military men on the spot, capable of estimating the difficulties of the enterprise, but in the Cabinet at home, directed by defective maps, and still more defective information.
It was a long way to the salt lick, and the chances were that the two men would be gone the whole afternoon. The day was very hot, and she had put on a long, white wrapper, letting her heavy hair fall down over her shoulders, as she did upon every excuse now, and always when her husband was out of the way. There was a sunbonnet hanging across the porch railing. She put it on her head and went down the steps, carrying the child.Dick and Sandy saw Larrys dazed face.He had that! Sandy agreed.Huh!uhoh!
