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Napoleon, who had every need of success to regain his former position in the opinion of France, sent off in all haste to Paris the most exaggerated account of the battle of Lützen, as one of the most[66] decisive victories that he had ever won, and that it had totally scattered the Allies, and neutralised all the hopes and schemes of Great Britain. The Empress went in procession to Notre Dame, where Te Deum was celebrated by Cardinal Maury, who drew the most extravagant picture of Napoleon's invincible genius. The same false statements were sent also to every friendly Court in Europe, even to Constantinople. The stratagem had its effect. The wavering German princes, who were ready to go over to their own countrymen, still ranged their banners with the French. The King of Saxony had gone to Prague as a place whence he might negotiate his return to the ranks of his own fatherland; but he now hastened back again, and was in Dresden on the 12th of May with Napoleon, who conducted him in a kind of triumph through his capital, parading his adhesion before his subjects who had hailed the Allies just before with acclamations. The Saxon king, in fresh token of amity to Napoleon, ceded to him the fortress of Torgau, much to the disgust of his subjects.

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Mr. Lamb, the Chief Secretary, wrote to Mr. Peel to the same effect. The Act, he said, had failed in fulfilling its main object, as well as every other advantageous purpose. To re-enact it would irritate all parties, and expose the Ministry to odium. He alluded to sources of dissension that were springing up in the Roman Catholic body, particularly the jealousy excited in the Roman Catholic prelates by the power which the Association had assumed over the parochial clergy. On the whole, his advice was against renewing the Statute. On the 12th of April Lord Anglesey wrote a memorandum on the subject, in which he pointed out the impolicy of any coercive measure, which, to be effective, must interfere with the right of public meeting, and make a dangerous inroad on the Constitution, at the same time displaying the weakness of the Government, which is shown in nothing more than passing strong measures which there was not vigour to enforce. His information led him to believe that the higher orders of the Roman Catholic clergy had long felt great jealousy of the ascendency that the leaders of the Association had assumed over the lower priesthood. Besides, many of the most respectable of the Catholic landlords were irritated at their tenantry for continuing to pay the Catholic rent, contrary to their injunctions; and sooner or later he believed the poorer contributors must consider the impost as onerous, arbitrary, and oppressive. These matters he regarded as seeds of dissolution, which would be more than neutralised by any coercive attempt to put down the Association. He felt confident that no material mischief could result from allowing the Act quietly to expire, supported as the Government was by "the powerful aid of that excellent establishment, the constabulary force, already working the greatest[270] benefit, and capable of still further improvement, and protected as this force was by an efficient army, ably commanded."The last night's debate continued till between six and seven o'clock on the morning of Saturday, the 8th of October. It was a night of intense anxiety, both in the House and out of doors. The space about the throne was crowded with foreigners and members of the other House. There was a number of ladies, peeresses, and their daughters, sitting there the whole night, manifesting their excitement in every way consistent with decorum. Palace Yard and the space all round the House was thronged with people waiting to hear the result of the division. The night was wet, however, and the debate was so protracted that the crowd had dispersed before morning. This was a matter of consolation to the Opposition peers, who dreaded a mobbing. It was now broad daylight, and no sound was heard outside except the rolling of the carriages of the peers, who passed up Parliament Street as quietly as if they had come from disposing of a road Bill. The fate of the Bill was that day decided, for it, 158; against it, 199leaving a majority of 41. "The night was made interesting," wrote Lord Eldon, "by the anxieties of all present. Perhaps, fortunately, the mob on the outside would not wait so long."
THREE:The Commissioners recommended the appointment of a central board to control the administration of the Poor Laws, with such assistant Commissioners as might be found requisite, the Commissioners being empowered and directed to frame and enforce regulations for the government of workhouses, and as to the nature and amount of the relief to be given and the labour to be exacted; the regulations to be uniform throughout the country. The necessity of a living, central, permanent authority had been rendered obvious by the disastrous working of the old system, arising partly from the absence of such controlan authority accumulating experience in itself, independent of local control, uninterested in favour of local abuse, and responsible to the Government. A Board of three Commissioners was therefore appointed under the Act, themselves appointing assistant Commissioners, capable of receiving the powers of the Commission by delegation. The anomalous state of things with regard to districts was removed by the formation of unions.Besides those already mentioned as distinguished in various branches of literature, there was a host of others whom we can only name. In theology there were Warburton, South, Horsley, Jortin, Madan, Gerard, Blair, Geddes, Lardner, Priestley; in criticism and philology, Harris, Monboddo, Kames, Blair, Sir William Jones, Walpole; in antiquarian research, Hawkins, Burney, Chandler, Barrington, Stevens, Pegge, Farmer, Vallancey, Grose, Gough; in belles-lettres and general literature, Chesterfield, Hawkesworth, Brown, Jenyns, Bryant, Hurd, Melmoth, Potter, Francklin, etc.; in mathematical and physical science, Black, the discoverer of latent heat, Cavendish, the discoverer of the composition of water, Priestley, Herschel, Maskelyne, Horsley, Vince, Maseres, James Hutton, author of "The Huttonian Theory of the Earth," Charles Hutton, Cullen Brown, the founder of the Brownian theory of medicine, John and[179] William Hunter, the anatomists, Pennant, the zoologist, etc.; discoverers of new lands, plants, and animals, Commodore Byron, Captains Wallis, Cook, Carteret, Flinders, etc., Dr. Solander, Sir Joseph Banks, Mr. Green.
FORE:While the Irish Government was in this state of miserable trepidation, the Dublin confederates carried on their proceedings with the most perfect unconcern and consciousness of impunity. Among these proceedings was the sending of a deputation to Paris to seek the aid of the republican Government on behalf of the "oppressed nationality of Ireland." The deputation consisted of Messrs. O'Brien, Meagher, and O'Gorman. They were the bearers of three congratulatory addresses, to which Lamartine gave a magniloquent reply about the great democratic principle"this new Christianity bursting forth at the opportune moment." The destinies of Ireland had always deeply moved the heart of Europe. "The children of that glorious isle of Erin," whose natural genius and pathetic history were equally symbolic of the poetry and the heroism of the nations of the North, would always find in France under the republic a generous response to all its friendly sentiments. But as regarded intervention, the Provisional Government gave the same answer that they had given to Germany, to Belgium, and to Italy. "Where there is a difference of racewhere nations are aliens in bloodintervention is not allowable. We belong to no party in Ireland or elsewhere except to that which contends for justice, for liberty, and for the happiness of the Irish people. We are at peace," continued Lamartine, "and we are desirous of remaining on good terms of equality, not with this or that part of Great Britain, but with Great Britain entire. We believe this peace to be useful and honourable, not only to Great Britain and to the French Republic, but to the human race. We will not commit an act, we will not utter a word, we will not breathe an insinuation, at variance with principles of the reciprocal inviolability of nations which we have proclaimed, and of which the continent of Europe is already gathering the fruits. The fallen monarchy had treaties and diplomatists. Our diplomatists are nationsour treaties are sympathies." The sympathies felt for the Irish revolutionists, however, were barren. Nevertheless the deputation who were complimented as "aliens in blood" shouted "Vive la Rpublique," "Vive Lamartine," who had just declared that the French would be insane were they openly to exchange such sympathy for "unmeaning and partial alliance with even the most legitimate parties in the countries that surrounded them."VIEW OF WASHINGTON FROM ARLINGTON HEIGHTS.
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FORE:Hunt, and about a dozen of his friends, were seized on the platform. Bamford and some others, who had escaped, were afterwards taken. The streets were then cleared by the infantry. Such was the celebrated Manchester massacre, in which the actual wounds inflicted by the soldiers do not appear to have been many. About seventy people were carried to the infirmaries, or went there, to have their wounds dresseda considerable number for severe cuts and fractured limbs; and six lives were lost, including a special constable run over by the cavalry, and a Manchester Yeoman, who was struck from his horse by a brickbat, aimed by a man whom he was pursuing.The irritation which this note caused was increased by the fact that before it was communicated by Sir Henry Bulwer to the Spanish Minister, the Duke de Sotomayor, a copy of it had got into print in one of the Opposition journals. In replying to it the Duke reminded our representative that when Lord Palmerston sent the despatch in question the Spanish Cortes were sitting, the press was entirely free, and the Government had adopted a line of conduct admitted to be full of kindness and conciliation. He asked, therefore, what motive could induce the British Minister to make himself the interpreter of the feelings and opinions of a foreign and independent nation in regard to its domestic affairs, and the kind of men that should be admitted to its councils. The Spanish Cabinet, which had the full confidence of the Crown and the Cortes and had been acting in conformity with the constitution and the laws, could not see "without the most extreme surprise the extraordinary pretensions of Lord Palmerston, which led him to interfere in this manner with the internal affairs of Spain, and to support himself on inexact and equivocal data, and the qualification and appreciation of which could not, in any case, come within his province." They declined to give any account of their conduct at the instigation of a foreign Power, and declared that all the legal parties in Spain unanimously rejected such a humiliating pretension. And, he triumphantly asked, "What would Lord Palmerston say if the Spanish Government were to interfere in the administrative acts of the British Cabinet, and recommend a modification of the rgime of the State; or if it were to advise it to adopt more efficacious or more liberal measures to alleviate the frightful condition of[575] Ireland? What would he say if the representative of her Catholic Majesty in London were to qualify so harshly as your Excellency has done, the exceptional measures of repression which the English Government prepares against the aggression which threatens in the midst of its own States? What would he say if the Spanish Government were to demand, in the name of humanity, more consideration and more justice on behalf of the unfortunate people of Asia? What, in fine, would he say if we were to remind him that the late events on the Continent gave a salutary lesson to all Governments, without excepting Great Britain?"

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FORE:The irritation arose from the fact that the force of public opinion was wresting political power from the families that had so long held it in well-assured possession as their hereditary right. Mr. Canning appeared before them as the man in whom that opinion had triumphedwho, by his own talents and merit alone, had risen to the first position in the State, to be, in fact, the chief ruler, the acting Sovereign of the empire. Hence the mortification, hence the factious wrath that was poured upon his devoted head. They succeeded in victimising a statesman of whom, as Englishmen, they ought to have been proud, vainly hoping that they could thereby maintain the domination of their order in the Government of the country. They were aware that the state of Mr. Canning's health was not good. He had all the exquisite sensibility as well as the pride of genius. His finely strung nervous system had been overwrought by incessant labour and anxiety, and irritated by the unworthy and unmerited attacks to which he had been subjected. He suppressed his feelings with a manly self-control, and a noble disdain of the mean and virulent assaults upon him. But he felt keenly, nevertheless, and the more carefully he hid the wounds of his mind, the more fatally the poisoned shafts rankled within.[469]

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FORE:In this wild but confident manner did this now pride-blinded man talk. And all the time he had no intention whatever of re-establishing the Poles; he meant only to use them. Once more, however, he sent General Lauriston and the Count Narbonne to the Emperor Alexander at Wilna. The pretext was to invite him to Dresden, "where," he said, "all might be arranged;" the real object was to spy out the forces and preparations of the[41] Czar. Alexander refused to see Lauriston, and gave to Narbonne a very curt and warlike answer. The French emissaries found the Russians neither depressed nor elated, but quietly cheerful and determined.[See larger version]

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THREE:But at length the Legislature adopted a measure which attempted to go to the root of one of the greatest evils that afflicted Ireland. This was a Bill for facilitating the transfer of encumbered estates, which was passed into law, and is generally known as the Encumbered Estates Act. It was introduced by the Solicitor-General, Sir Samuel Romilly, on the 26th of April. Nothing could be more unsatisfactory than the state of landed property in that country. Many of the estates had been in Chancery for a long series of years, under the management of receivers, and periodically let at rack-rents. Many others which were not in Chancery were so heavily mortgaged that the owners were merely nominal. Others again were so tied up by family settlements, or held by such defective titles, that they could not be transferred. Consequently, a great portion of the landed property of the country was in such a condition that capital could not be invested in it, or expended on it. The course of proceeding in Chancery was so slow, so expensive, so ruinous, and the court was so apparently incapable of reform, that nothing could be expected from that quarter. The Government, therefore, proposed to establish a commission, invested with all the powers of that court, and capable of exercising those powers in a summary manner, without delay and without expense, so that an encumbered estate could be at once sold, either wholly or in part, and a parliamentary title given, which should be good against all the world. This important measure met with general approval in both Houses. Indeed it was hailed with satisfaction by all classes of the community, with the exception of a portion of the Irish landed gentry. There were three commissioners appointed, lawyers of eminence and experience in connection with land. By a subsequent enactment in 1849, it was regulated as a permanent institution, under the title of the Landed Estates Court; the three commissioners were styled judges, ranking with the judges of the Law Courts. The number of petitions or applications for sale made to this court from the 17th of October, 1849, to the 1st of August, 1850, was 1,085, and of this number those by owners amounted to 177nearly one-sixth of the whole. The rental of the estates thus sought to be sold by the nominal proprietors, anxious to be relieved of their burdens, was 195,000 per annum, and the encumbrances affecting them amounted to no less than 3,260,000. The rental of the estates included in 1,085 applications, made by others not owners, amounted to 655,470 per annum, and the debt upon these amounted to the enormous sum of 12,400,348. One of the estates brought before the court had been in Chancery for seventy years, the original bill having been filed by Lord Mansfield in 1781. The estates were broken up into parcels for the convenience of purchasers, many of whom were the occupying tenants, and the great majority were Irishmen. Generally the properties brought their full value, estimated by the poor-law valuation, not by the rack rents which were set down in the agents' books, but never recovered. The amount of capital that lay dormant in Ireland, waiting for investment in land, may be inferred from the fact that in nine yearsfrom 1849 to 1858the sum of twenty-two millions sterling was paid for 2,380 estates. But in the pacification of Ireland the Act accomplished far less than was hoped by Sir Robert Peel, who practically forced the measure upon the Ministry. Men of capital looked for a fair percentage for their investments: many of them were merchants and solicitors, without any of the attachments that subsisted between the old race of landlords and their tenants, and they naturally dealt with land as they did with other mattersin a commercial spiritand evicted wholesale tenants who were unable to pay.
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  • FORE:The king, in his speech on opening Parliament, mentioned the fleets which we had dispatched to the West Indies and South America, and his determination to continue those armaments so as to bring Spain to reason. He professed to rely with confidence on our allies, although we had scarcely one left, whilst in the same breath he admitted the no longer doubtful hostility of France[74] at the very moment that our only allynamely, Austriawas calling on us for assistance, instead of being able to yield us any, should we need it. On the proposal of the address, the Opposition proceeded to condemn the whole management of the war. The Duke of Argyll led the way, and was followed by Chesterfield, Carteret, Bathurst, and others, in a strain of extreme virulence against Walpole, calling him a Minister who for almost twenty years had been demonstrating that he had neither wisdom nor conduct. In the Commons Wyndham was no longer living to carry on the Opposition warfare, but Pitt and Lyttelton more than supplied his place.

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    FORE:The year 1797 was opened by the suspension of cash payments. The Bank of England had repeatedly represented to Pitt, as Chancellor of the Exchequer, that his enormous demands upon it for specie, as well as paper money, had nearly exhausted its coffers and could not long be continued. The payment of our armies abroad, and the advances to foreign kings, were necessarily made[455] in cash. The Government, in spite of enormous taxation, had already overdrawn its account eleven million six hundred and sixty-eight thousand eight hundred pounds, and the sole balance in the hands of the Bank was reduced to three million eight hundred and twenty-six thousand eight hundred and ninety pounds. Pitt was demanding a fresh loan for Ireland, when a message came from the Bank to say that, in existing circumstances, it could not be complied with. Thus suddenly pulled up, the Privy Council was summoned, and it was concluded to issue an order for stopping all further issue of cash, except to the Government, and except one hundred thousand pounds for the accommodation of private bankers and traders. Paper money was made a legal tender to all other parties, and the Bank was empowered to issue small notes for the accommodation of the public instead of guineas. A Bill was passed for the purpose, and that it might not be considered more than a temporary measure, it was made operative only till June; but it was renewed from time to time by fresh Acts of Parliament. The system was not abolished again till 1819, when Sir Robert Peel brought in his Bill for the resumption of cash payments, and during the whole of that time the depreciation of paper money was comparatively slight.

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THREE:"The prosperous state of the revenue, the increased demand for labour, and the general improvement which has taken place in the internal condition of the country are strong testimonies in favour of the course you have pursued.

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THREE:Dumouriez was now making his projected attack upon Holland. On the 17th of February, 1793, he entered the Dutch territory, and issued a proclamation, promising friendship to the Batavians, and war only to the Stadtholder and his British allies. His success was brief, and he was soon forced back at all points. He received peremptory orders from the Convention to retire into Belgium. He obeyed with reluctance. On Dumouriez' return to Belgium, he was greatly incensed at the wholesale rapacity of the Commissioners of the Convention. They had plundered the churches, confiscated the property of the clergy and the wealthy inhabitants, and driven the people, by their insolence and violence, into open revolt. He did not satisfy himself by simply reproving these cormorants by words; he seized two of the worst of them, and sent them to Paris under a military guard. General Moreton-Chabrillant, who defended the Commissioners, he summarily dismissed; he restored the plate to the churches, as far as he was able, and issued orders for putting down the Jacobin clubs in the army. On the 16th of March he was attacked at Neerwinden by the Prince of Saxe-Coburg, and after a sharply-fought field, in which both himself and the Duke of Chartres fought bravely, he was routed with a loss of four thousand killed and wounded, and the desertion of ten thousand of his troops, who fled at a great rate, never stopping till they entered France, and, spreading in all directions, they caused the most alarming rumours of Dumouriez' conduct and the advance of the enemy. The Convention at once dispatched Danton and Lacroix to inquire into his proceedings, and, roused by all these circumstances, no sooner had these two envoys left him than he entered into communication with the Prince of Saxe-Coburg. Colonel Mack, an Austrian officer, was appointed to confer with Dumouriez, and it was agreed that he should evacuate Brussels, and that then the negotiation should be renewed. Accordingly, the French retired from Brussels on the 25th of March, and on the 27th they encamped at Ath, where Dumouriez[419] and Mack again met. The result of this conference was the agreement of Dumouriez to abandon the Republic altogether, to march rapidly on Paris, and disperse the Convention and the mother society of the Jacobins. His designs, however, were suspected by the Jacobins, and he was eventually compelled to go over to the enemy almost alone. Dampierre, who had been appointed by the Convention to supersede Dumouriez, took the command of the army, and established himself in the camp at Famars, which covered Valenciennes. He was there attacked, on the 8th of May, by the combined armies of Austrians, Prussians, English, and Dutch, under Clairfayt, the Duke of Saxe-Coburg, and the Duke of York. He was defeated with terrible slaughter, four thousand men being killed and wounded, whilst the Allies stated their loss at only eight hundred men. Dampierre himself lost a leg and died the next day. Lamarque, who succeeded him, might have easily been made to retreat, for the French were in great disorder; but the Allies had resolved to advance no farther till Mayence should be retaken. Lamarque, therefore, fortified himself in his camp at Famars, and remained unmolested till the 23rd of the month. He was then attacked and beaten, but was allowed to retire and encamp again between Valenciennes and Bouchain. The Allies, instead of pushing their advantages, waited the advance of the King of Prussia upon Mayence. Custine, who was put in command of the Rhine, was enabled to keep back the Prince of Hohenlohe, who had but an inconsiderable force, the King of Prussia having been compelled to send a large force to Poland, instead of forwarding it according to agreement to the Rhine.

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THE COSSACK'S CHALLENGE. (See p. 42.)Yet, on the first view of the case, the selection of the Swedes augured anything but a Russian alliance; and showed on the surface everything in favour of Napoleon and France, for it fell on a French general and field-marshal, Bernadotte. The prince royal elect made his public entry into Stockholm on the 2nd of November. The failing health of the king, the confidence which the talents of Bernadotte had inspired, the prospect of a strong alliance with France through himall these causes united to place the national power in his hands, and to cast upon him, at the same time, a terrible responsibility. The very crowds and cries which surrounded him expressed the thousand expectations which his presence raised. The peasantry, who had heard so much of his humble origin and popular sentiments, looked to him to curb the pride and oppression of the nobles; the nobles flattered themselves that he would support their cause, in the hope that they would support him; the mass of the people believed that a Republican was the most likely to maintain the principles of the Revolution of 1809; the merchants trusted that he would be able to obtain from Napoleon freedom for trade with Great Britain, so indispensable to Sweden; and the[7] army felt sure that, with such a general, they should be able to seize Norway and re-conquer Finland. Nor was this all. Bernadotte knew that there existed a legitimist party in the country, which might long remain a formidable organ in the hands of internal factions or external enemies. How was he to lay the foundation of a new dynasty amid all these conflicting interests? How satisfy at once the demands of France, Britain, and Russia? Nothing but firmness, prudence, and sagacity could avail to surmount the difficulties of his situation; but these Bernadotte possessed.On the passage, the squadron of Sir John Warren came in sight of the French fleet of Villaret-Joyeuse, of nine ships of the line, but it bore away, and left them to pursue their course. They entered the Bay of Quiberon on the 25th of June and, after much wrangling as to the best situation for landing, they put the troops ashore at the village of Carnac. There they were immediately joined by Georges Cadoudal, d'Allgre, Dubois-Berthollet, and other Chouan chiefs, with about four thousand or five thousand of their wild and bandit-looking soldiers. Along with the Chouans came troops of peasants, crying "Vive le Roi!" and bringing in abundance of fresh eggs, poultry, and other provisions. Puisaye was delighted, and felt confident that all Brittany was ready to rise. But this delusion was soon dissipated. The Emigrants, accustomed to regular armies, looked with contempt on this wild and ragged band, and they, on their part, were not restrained, on the landing of the arms and uniforms, from seizing and carrying them off, without much exertion on the part of Puisaye. There was danger of bloodshed. At length, in about a couple of days, ten thousand of them were put into red coats, and furnished with muskets. But fatal dissensions prevented all operations. Puisaye proposed to march up the country, seize different towns, such as Vannes and Rennes, and take up their position behind the Mayenne; but d'Hervilly refused to march till the troops were formed into regular regiments, and the Emigrants joined him in despising the Chouans, and in complaining that they had not been taken to La Vende to join Charette. Puisaye and d'Hervilly also disputed the supreme command, and Puisaye had to dispatch letters to London, to Count d'Artois, on the subject. At length, after five days had been wasted in this contention, Puisaye proposed that they should endeavour to carry Fort Penthivre, which stood on a small peninsula on Quiberon Bay, and was united to the main land by a sandy isthmus. To this d'Hervilly consented, and Sir John Warren agreed to support him in the attempt. On the 1st of July Warren began to bombard the fort, and on the 3rd, the place being warmly assailed by both the British and the Chouans, the Republicans surrendered. Meanwhile, Puisaye had sent off emissaries all over Brittany, to rouse Scpeaux, Charette, Stofflet, and the rest of the insurgent chiefs. The news of the landing had flown all over Brittany in a few days, and the Royalists were full of joy.As Blucher was, as usual, much ahead of the other divisions of the Allies, Buonaparte resolved to attack him before he could form a junction with Schwarzenberg. Blucher, informed of his purpose, concentrated his forces at Brienne, on the Aube, fourteen miles below Bar. Brienne is only a small village, having but two streets, one of them ascending to the chateauoccupied as a military academy, where Napoleon himself received his military educationthe other leading to Arcis-sur-Aube. Blucher had quartered himself in the chateau, and was at dinner with his staff, on the 27th of January, when he was astonished to find that Buonaparte was already upon him. The chateau being surrounded by a woody park, Napoleon had approached under cover of it, and suddenly driven in two thousand Russians posted there, and was rushing on to capture the general and all his staff. A most miserable look-out must have been kept by the Prussian outposts. Blucher and his generals, startled by the terrible uproar, had just time to escape by a postern, and by leading their horses down a flight of steps. Recovered, however, from their surprise, the Russians turned on the French, and were soon supported by the Prussians. The Cossacks galloped forward, and nearly succeeded in capturing Buonaparte at the head of his troops. One man was laying hands on the Man in the Grey Coat, when Gourgaud shot him with a pistol. Buonaparte gained possession of Brienne, but, like Moscow, it was burned over his head, and it was not till eleven o'clock at night that Blucher, who had only twenty thousand men engaged, retired, and took up a position at La Rothire. It could scarcely be styled a victory, yet Napoleon proclaimed it a brilliant one, asserting that he had taken fifteen thousand prisoners and forty pieces of cannon, when he had taken no cannon whatever, and only a hundred prisoners.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.
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