FORE:Thus shamefully deserted on both hands, Cumberland still led forward his British and Hanoverians against the main body of the French army. The ruggedness of the ground in the[91] narrow valley between the wood of Barr and Fontenoy compelled them to leave the cavalry behind; but the infantry pushed on, dragging with them several pieces of artillery. Cumberland had the advantage of the advice and spirit of his military tutor, General Ligonier, and, in face of a most murderous fire, the young commander hastened on. The batteries right and left mowed them down, and before this comparative handful of men stood massed the vast French army, in a position pronounced by the French impregnable. The dense column of the English, compressed between the wood of Barr and Fontenoy, soon drove the French from their positions, and, still pushing on towards the rear of Fontenoy, threatened to cut off the bridge of Calonne, and with it the enemy's retreat across the river. Both French and English conceived that the battle was decided for the Allies. Marshal K?nigsegg congratulated Cumberland on their victory, and, on the other hand, Saxe warned Louis XV. that it was necessary to retreat. Louis, however, is said to have protested against giving way, and both French and English soon became aware that the Dutch had deserted their post, and that the right wing of the French army remained wholly unengaged. The British and Hanoverian conquerors on their right, when they mounted the French positions, looked out for their left wing, the Dutch, and, to their dismay, beheld them hanging with cowardly inactivity in the distance. The brave Marshal Saxe, at the same moment making the same discovery, called forward the Household Troops, which had been posted to receive the Dutch, and precipitated them on the flank of the British. Foremost in this charge was the Irish Brigade, in the pay of France, who fought like furies against their countrymen. Overwhelmed by numbers, and numbers perfectly fresh, and mowed down by additional artillery which the default of the Dutch had set at liberty, and unsupported by their own cavalry from the confined and rugged nature of the ground, the brave British and Hanoverians were compelled to give way. But they did it in such order and steadiness, disputing every inch of the ground, as excited the admiration of their opponents. The Duke of Cumberland was the last in the retreat, still regardless of his own danger, calling on his men to remember Blenheim and Ramillies; and seeing one of his officers turning to flee, he threatened to shoot him. Thus they gave way slowly, and still fighting, till they reached their horse, which then made a front to cover them, till they were out of the mle; their dastardly allies, the Dutch, then joined them, and they marched away in a body to Ath. Tournay, for which the battle was fought, might have detained the French a long time; but here, again, Dutch treachery did its work. Hertsall, the chief engineer in the Dutch service, betrayed the place to the French, fled to their camp, and then assisted them by his advice. Tournay surrendered in a fortnight, and the citadel the week after. Ghent, Bruges, Oudenarde, and Dendermond fell in rapid succession. Whilst the Allies were covering Antwerp and Brussels, the French attacked and took Ostend, again by the treachery of the governor, who refused to inundate the country.
Published Aug 30.
TWO:All being ready, on the 6th of January Wellington suddenly pushed forward to Gallegos, and[26] on the 8th invested Ciudad Rodrigo. Nothing could be more unexpected by Marshal Marmont, who had never suspected any attack in winter, and had placed his army in cantonments, and had, moreover, sent several divisions to distant points. On the very first evening Wellington stormed an external redoubt called the Great Teson, and established his first parallel. On the 13th he also carried the convent of Santa Cruz, and on the 14th that of San Francisco. He then established his second parallel, and planted fresh batteries. On the 19th he made two breaches, and, hearing that Marmont was advancing hastily to the relief of the place, he determined to storm at once, though it would be at a more serious exposure of life. The assault was rapid and successful, but the slaughter on both sides was very severe. A thousand killed and wounded were reckoned on each side, and one thousand seven hundred prisoners were taken by the British. What made the British loss the heavier was that General Mackinnon and many of his brigade were killed by the explosion of a powder magazine on the walls. General Craufurd of the Light Division, was killed, and General Vandeleur, Colonel Colborne, and Major Napier were wounded. Much ammunition and a battering train were found in Ciudad Rodrigo. Marmont was astounded at the fall of the place. The Spanish Cortes, who had been so continually hampering and criticising Wellington, now created him Duke of Ciudad Rodrigo. He was also, in England, advanced to the dignity of an earl, and an annuity of two thousand pounds was voted him by Parliament.
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FORE:It is impossible to conceive the extent of suffering and desolation inflicted upon society, almost every family being involved, more or less, in the general calamity. Flourishing firms were bankrupt, opulent merchants impoverished, the masses of working people suddenly thrown out of employment, and reduced to destitution; and all from causes with which the majority had nothing to docauses that could have been prevented by a proper monetary system. If Bank of England notes had been a legal tender, to all intents and purposes supplying the place of gold as currency; if these notes had been supplied to the country banks in any quantities they required, ample security being taken to have assets equal to their respective issues, then the currency would have had an elastic, self-adjusting power, expanding or contracting according to the requirements of commerce. Inordinate speculation would not have been stimulated by a reckless system of credit, and business would have been conducted in a moderate and judicious manner, instead of rushing on at a high pressure that rendered a crash inevitable. The Government, after anxious and repeated deliberations, supplied a remedy on this principle. They determined to issue one-pound and two-pound notes of the Bank of England, for country circulation, to any amount required. In the meantime the Mint was set to work with all its resources in the coining of sovereigns[244], which, for the course of a week, were thrown off at the rate of 150,000 a day. The notes could not be manufactured fast enough to meet the enormous demand for carrying on the business of the country. In this dilemma the Bank was relieved by a most fortunate discoverya box containing 700,000, in one- and two-pound notes that had been retired, but which were at once put into circulation. The people having thus got notes with Government security, the panic subsided, and the demand for gold gradually ceased. The restoration of confidence was aided by resolutions passed at a meeting of bankers and merchants in the City of London, declaring that the unprecedented embarrassments and difficulties under which the circulation of the country laboured were mainly to be ascribed to a general panic, for which there were no reasonable grounds; that they had the fullest confidence in the means and substance of the banking establishments of the capital and the country; that returning confidence would remove all the symptoms of distress caused by the alarms of the timid, so fatal to those who were forced to sacrifice their property to meet unexpected demands. The new measures so promptly adopted and so vigorously carried into effect, raised the circulation of the Bank of England notes in three weeks from 17,477,290 to 25,611,800. Thus the regular and healthful action of the monetary system was restored by an adequate circulation of paper money, on Government security, without specie to sustain it. There were at the time of the crash 770 country bankers; 63 stopped payment, 23 of them having subsequently resumed business, and paid twenty shillings in the pound; and even those that were not able to resume, paid an average of seventeen shillings and sixpence in the pound. It was estimated that the total loss to the country by this panic was one hundred million pounds.The approaching marriage of the Queen was anticipated by the nation with satisfaction. We have seen, from the height to which party spirit ran, that it was extremely desirable that she should have a husband to stand between her and such unmanly attacks as those of Mr. Bradshaw. An occurrence, however, took place in the early part of the year very painful in its nature, which added much to the unpopularity of the Court. This was the cruel suspicion which was cast upon Lady Flora Hastings by some of the ladies about the Queen, and is supposed to have caused her early death. She was one of the ladies in attendance on the Duchess of Kent; and soon after her arrival at Court it was generally surmised, from the appearance of her person, that she had been privately married, the consequence of which was that, in order to clear her character, which was perfectly blameless, she was compelled to submit to the humiliation of a medical examination. Shortly afterwards she died of the disease which was suspected to be pregnancy, and the public feeling was intensified by the publication of the acrimonious correspondence which had taken place between her mother on the one side and Lady Portman and Lord Melbourne on the other.
Published Aug 28.
TWO:The peace with Spain was also ratified in London on the 1st of March. By this, Spain, so far as diplomatic contracts could effect it, was for ever separated from France. Philip acknowledged[14] the Protestant succession, and renounced the Pretender. He confirmed the Assiento, or exclusive privilege of the English supplying the Spanish West Indies and South American colonies with slaves, one-fourth of the profit of which the queen reserved to herselfa strange proof of the small idea of the infamy of this traffic which prevailed then in England, whilst so truly benevolent a woman could calmly appropriate money so earned to her own use. Gibraltar and Minorca were also confirmed to England, on condition that the Spanish inhabitants should enjoy their own property and their religion. There was a guarantee given by Philip for the pardon and security of the Catalans. They were to be left in possession of their lives, estates, and honours, with certain exceptions, and even these were at liberty to quit the country and remove to Italy with their effects. But the Catalans, who had taken up arms for Charles of Austria at our suggestion, were greatly incensed at the dishonourable manner in which we had abandoned them and the cause, and, putting no faith in the word of Philip, they still remained in arms, and soon found themselves overrun with French troops, which deluged their country with blood, and compelled them to submit. Amid all the disgraceful circumstances which attended the peace of Utrecht, none reflected more infamy on England than its treatment of the people of Catalonia.
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