FORE:Prince Ferdinand this summer had to contend with numerous armies of the French. De Broglie marched from Frankfort into Hesse with a hundred thousand men. On the 10th of July they met the hereditary Prince of Brunswick at Corbach, and defeated him, though he gained a decided advantage over them a few days after at Emsdorf, taking the commander of the division and five battalions prisoners. This was followed by Ferdinand himself, who was at Warburg, where he took ten pieces of artillery, killed one thousand five hundred of the French, and drove them into the Dimel, where many were drowned. The British cavalry had the greatest share in this victory. In fact, the Marquis of Granby led them on all occasions with such spirit and bravery, that Ferdinand placed them continually in the post of danger, where of course they suffered more severely than the other troops.Walpole, however, continued to oppose the South Sea Bill in the Commons, declaring that the terms were too extravagant ever to be fulfilled; that the experiment could result in nothing but a fearful increase of the costs of stockjobbing, and final confusion and ruin. He insisted that, before the proposals of the Company were accepted,[47] the rise of their stock should be limited, and every means taken to prevent the fever of infatuation that would ensue from the promise of dividends out of funds which could never be realised. He proposed for this purpose the introduction of a clause fixing the number of years' purchase to be granted to the annuitants of the South Sea Company; but to this it was objected that it was the interest of the Company to take up the annuities; and, as the annuitants had the power of coming in or not, as they pleased, the Company would, of course, offer advantageous terms, and, therefore, the whole affair might be safely left to private adjustment. Aislabie added that the South Sea Company would not submit to be controlled in an undertaking they were to pay so dear for. The Bill passed both Houses.
Faucibus luctus
