"Were you catching the tarantula yesterday when I saw you lying upon the ground by the dump heap?"The town of Charleston being now in his[274] possession, Sir Henry Clinton proceeded to reduce the whole province to obedience. He issued proclamations, calling on the well-affected young men to form themselves into military bodies, and to act in support of the king's troops, pledging himself that they should never be called upon to march beyond the frontiers of North Carolina on the one side, or those of Georgia on the other; and he assured the inhabitants at large of the utmost protection of person and property, so long as they continued peaceable and loyal subjects of the Crown. In the meantime, Lord Cornwallis continued to enforce these proposals by the movements of his troops. Could Sir Henry Clinton have remained in this quarter, he would without doubt have steadily carried his victorious arms northward till he had everywhere restored the rule of England. But he was completely crippled by the wretched management of the miserable Government at home, who seemed to expect to reconquer America without an army. At this crisis he received news that the Americans were mustering in strong force on the Hudson, and that a French fleet was daily expected on the coast of New England to co-operate with them. He was now compelled to embark for New York, leaving Lord Cornwallis to maintain the ground obtained in South Carolina as well as he could with a body of four thousand men. His second in command was Lord Rawdon, a young officer who had distinguished himself greatly at the battle of Bunker's Hill, and who, like Cornwallis, his chief, was destined, in after years, to occupy the distinguished post of Governor-General of India, with the successive titles of Earl Moira and Marquis of Hastings. The chief business of Cornwallis was to maintain the status gained in South Carolina, but he was at liberty to make a move into North Carolina if he thought it promising.
FORE: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.Sandy, thrilled at the prospect of a hop with his own comrade doing the control job, was full of fun and jokes.
"What is he doing here?"These certainly were large concessions, but it was to be remembered that we had not received them for nothing; they had cost vast sums, and the national debt had been doubled by this war, and now amounted to one hundred and twenty-two million six hundred thousand pounds. These territories had, in fact, cost us upwards of sixty million pounds; and it is certain that Pitt would have exacted a more complete renunciation from France of the conquered countries. There was a clause inserted which Pitt would never have permittednamely, that any conquests that should be made after the signing of these articles, should be restored by all parties. Now, Bute and the Ministry knew that we had expeditions out against Cuba and the Philippines, and that the only conquests likely to be made were in those quarters. To throw away without equivalent the blood and money expended in these important enterprises was a most unpatriotic act. Still, there was opportunity for more rational terms, for Grimaldi, the Spanish ambassador at Paris, held back from signing, in hope that we should be defeated at Havana, and that then he could raise his terms. When the news of the loss of both Havana and Manila arrived, Grimaldi was in great haste to sign, and Mr. Grenville and Lord Egremont very properly insisted that we should demand an equivalent for the conquest in Cuba. Pitt would have stood firm for the retention of that conquest as by far the most important, and as justly secured to us by the refusal of the Spanish ambassador to sign at the proper time. But Bute would have signed without any equivalent at all. Fortunately, there was too strong an opposition to this in the Cabinet, and the Duke of Bedford was instructed to demand Florida or Porto Rico in lieu of Havana. Florida was yieldeda fatal, though at the moment it appeared a valuable concession, for it only added to the compactness of the American colonies, hastening the day of independence, whilst Cuba would have remained under the protection of the fleet, one of the most valuable possessions of the British empire.On the 19th of October the French attacked the duke with sixty thousand men, and though his little army fought with its usual dogged bravery it was compelled to give way. It did this, however, only to assume a fresh position, still covering Nimeguen, where, on the 27th, the French again attacked it, and compelled it to retire from the contest. The duke led the wreck of his army across the Waal and the Rhine, and posted himself at Arnhem in Guelderland, to throw some impediment in the path of Pichegru, who was advancing, at the command of the Convention, to reduce Holland. Nimeguen, full of Dutch traitors, soon opened its gates; Maestricht did the same to Kleber; and at the end of the campaign the gloomiest prospects hung over Holland.
