THREE:Hon. R. Trench, made a peer and ambassador.
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THREE:The news had the most instant effect across the Channel. All hesitation on the part of the French Court to enter into the treaty with the United States disappeared. The American Commissioners, Franklin, Deane, and Lee, were informed that the King of France was ready to make a treaty, claiming no advantage whatever, except that of trade with the States. It was intimated that this proceeding would, in all probability, involve France in a war with Great Britain, but that she would claim no indemnity on that score. The only condition for which she positively stipulated was, that America should, under no temptations, give up its independence, or return under the dominion of England. The two kingdoms were to make common cause, and assist each other against the common enemy. The Americans were to endeavour to make themselves masters of all the British territories that they could, and retain them as their rightful acquisition; the French to obtain whatever islands they could in the West Indies, and retain them. France did not venture to seek back the Canadas or Nova Scotia, well knowing that the Americans would not consent to have them there as neighbours. Neither country was to make peace with England without the other. Lee was to continue at Paris as the first American Ambassador there, and the treaty was to continue some weeks a secret, in order to obtain, if possible, the accession of Spain to it, which, however, they could not do then.
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THREE:Some remarkable commercial reforms were introduced by Robinson and Huskisson in 1824. In the previous year the Chancellor of the Exchequer was able to boast of a very large surplus, and this year he had a surplus of 1,050,000. Part of it was devoted to the repair and embellishment of Windsor Castle; 40,000 were devoted towards the erection of rooms for the reception of the library of George III., which was presented to the British Museum by his successor, whose gift, however, was somewhat discounted by the fact that he was with difficulty dissuaded from selling the collection. With 57,000 Government purchased Angerstein's collection of pictures, which became the nucleus of the National Gallery. But the main object of the Budget was not expenditure but economy. The Four per Cents. were redeemed or exchanged for Three-and-a-Half per Cent. Stock, and a death-blow was given to the old system of bounties by a reduction of that on the herring fishery and the immediate cessation of that on inferior kinds of linen, while that on the higher class of linen was annually decreased ten per cent. There was further a reduction of the duties on rum and coals, with the result, as Robinson prophesied, that lower prices considerably increased the consumption. His greatest innovations, however, concerned the wool and silk trades. In the former there prevailed a great conflict of interests. The agriculturists[241] wished for the prohibition of foreign wool; the manufacturers desired the retention of an export duty, together with free importation. The judicious Chancellor effected a compromise by which the duty on foreign wool was reduced from 6d. to 1d. per pound, while the exportation of English wool was sanctioned on a similar duty. The fear of a large exportation of English wool proved so groundless that by 1826 only 100,000 pounds in weight had been exported, while 40,000,000 pounds of foreign wool had been introduced.
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THREE:Through all these arrangements Lord North continued to persist in his resignation. If the king had had any glimmering of what was necessary to save the colonies, he would himself have removed North long ago. But the only man who could take the place with any probability of success, or with any of the confidence of the public, was Lord Chatham, whom the king regarded with increasing aversion. Chatham's pride, which would not stoop an inch to mere outside royalty, feeling the higher royalty of his own mind, so far from seeking office, must himself be sought, and this deeply offended the monarch. Lord North could point to no other efficient successor, and George angrily replied that, as regarded "Lord Chatham and his crew," he would not condescend to send for "that perfidious man" as Prime Minister; he would only do it to offer him and his friends places in the Ministry of Lord North.
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