FORE:A great portion of the present Session was[143] occupied with discussing the return to cash payments, which, by the Act of Parliament, ought to take place on the 5th of July of this year. It appears that no less than fifty debates and conversations in both Houses took place on this important subject during the Session. Very soon after the meeting of Parliament a secret committee of each House was appointed to inquire into the state of the Bank. These committees were, however, so managed, by delivering to the members lists of suitable persons for such committees, that scarcely any but Ministerial men were voted, though these votes were given by ballot. In the Commons this result was so evident that the Opposition declined to vote at all. The first reports of the committees went rather to close more strictly than to open the issue of gold by the Bank. It had been paying in gold its notes issued previous to January, 1817. This payment it was proposed to stop, as, at present, evidently injurious to the interests of the country. Mr. Peel, on moving for a Bill for this purpose, stated that the gold at the present price was fast finding its way abroad, and was as rapidly absorbed in re-minting a gold coinage for France. It appeared that during the first half of 1818 gold to the value of no less than one hundred and twenty-eight million francs had been coined at the French mint, of which three-fourths were derived from the gold coinage of England. A Bill was accordingly passed to stop payment altogether in gold till the necessary preparations were made by a fresh Bill. Still, the condition of the Bank was represented as flourishing. Its liabilities were stated in January, 1819, as amounting to thirty-three million eight hundred and ninety-four thousand five hundred and eighty pounds; its assets, including the debt due from Government, fifty-three million seven hundred and eighty-three thousand seven hundred pounds. The total Bank surplus appeared to be nineteen million eight hundred and eighty-nine thousand one hundred and twenty pounds; and its surplus, independent of the Government debt, and therefore available for current use, was five million two hundred and two thousand three hundred and twenty pounds. The committees adopted the scheme broached by Mr. Ricardo in his "Proposals for an Economical and Secure Currency," published in 1816. This was that the Bank, in the first instance, should not pay for its notes in gold coin, but in ingots of a certain weight, its fineness being attested by a stamp; and this degree of purity should be regulated from time to time till the gold descended to the Mint price of three pounds seventeen shillings and tenpence-halfpenny per ounce. When the Mint gold at length reached this rate of value, then the payment in coin was to be begun. Resolutions to this effect were moved by the Earl of Harrowby on the 21st of May, and they received the approval, not only of the Ministerial side, but of the leading Opposition members, Lords Grenville, Lansdowne, and King.Sir John marched out of Edinburgh for the north on the very day that the standard of the Stuarts was erected in Glenfinnan, the 19th of August. On the following day he continued his route from Stirling, accompanied by one thousand five hundred foot, leaving, very properly, the dragoons behind him, as of no service in the mountains, nor capable of finding forage there. He then continued his march towards Fort Augustus, which he hoped to make the centre of his operations, and then to strike a sudden and annihilating blow on the handful of rebels. At Dalwhinnie he heard that the rebels now mustered six thousand, and that they meant to dispute the pass of Corriarrick, lying directly in the line of his march towards Fort Augustus. This Corriarrick had been made passable by one of General Wade's roads, constructed after the rebellion of 1715, to lay open the Highlands. The road wound up the mountain by seventeen zig-zags or traverses, and down the other side by others, called by the Highlanders the Devil's Staircase. Three hundred men were capable, much more three thousand, of stopping an army in such a situation, and Cope called a council of war. At length it was agreed that they should take a side route, and endeavour to reach Inverness and Fort George. The resolve was a fatal one, for it gave the appearance of a flight to the army, and left the road open to Stirling and the Lowlands.
THREE:[See larger version]Meanwhile, Bute was sedulously at work to clear the way for his own assumption, not merely of office, but of the whole power of the Government. He acted as already the only medium of communication with the king, and the depositary of his secrets. He opened his views cautiously to Bubb Dodington, who was a confidant of the Lichfield House party, and still hungering after a title. Dodington advised him to induce Lord Holderness to resign and take his place, which, at first, Bute affected to disapprove of, but eventually acted upon. The first object was to get rid of Pitt, who, by his talents and haughty independence of manner, was not more acceptable to the king and his counsellor, Bute, than by his policy, which they desired to abandon. Pamphlets were therefore assiduously circulated, endeavouring to represent Pitt as insatiable for war, and war as having been already too burdensome for the nation.
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THREE:
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THREE:THE MINT, LONDON.On the 6th of November came down that fierce Russian winter of which Buonaparte had been so long vainly warned. A thick fog obscured everything, and snow falling in heavy flakes blinded and chilled the soldiers. Then commenced wild winds, driving the snow around their heads in whirls, and even dashing them to the earth in their fury. The hollows and ravines were speedily drifted full, and the soldiers by thousands disappeared in the deceitful depths, to reappear no more till the next summer revealed their corpses. Numbers of others fell exhausted by the way, and could only be discovered by their following comrades by the slight hillocks that their bodies made under the snow. Thus the wretched army struggled and stumbled to Smolensk, only to find famine and desolation, seeming to forget, in the mere name of a town, that it was now but a name, having been burnt by the Russians. On commencing this terrible march of the 6th of November Buonaparte received the ill news that there was insurrection in Paristhat produced by Mallet, but soon put down; and also that Wittgenstein had driven St. Cyr from Polotsk and Vitebsk, and reoccupied the whole course of the Düna. To clear his retreat of this obstruction, Buonaparte dispatched Victor to repulse Wittgenstein and support St. Cyr. But this was only part of the evil tidings which came in simultaneously with winter. Two thousand recruits from France, under Baraguay d'Hilliers, had been surprised and taken prisoners on the road to Kaluga, and other detachments in other quarters. On arriving at Smolensk Buonaparte's troops had acquired such a wild, haggard, and ragged appearance that the garrison at first refused to admit them; and many perished before they could be relieved from the stores. They had no shelter amid the terrible frost but wretched sheds, reared from half-burnt timber, against the fire-blackened walls.
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THREE:[269]
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