THREE:On the death of Stanhope, Sir Robert Walpole was left without a rival, and he received his commission of First Lord of the Treasury on the 2nd of April, and from this period down to 1742 he continued to direct the government of Great Britain. His chief anxiety now was to restore the public credit. He drew up, as Chairman of the Committee of the Commons, a report of all that had been lost in the late excitements, and of the measures that had been adopted to remedy the costs incurred. Amongst these were the resolutions of the House respecting the seven and a half millions the directors of the South Sea Company had agreed to pay to Government; more than five had been remitted, and we may add that on the clamorous complaints of the Company the remainder was afterwards remitted too. The forfeited estates had been made to clear off a large amount of encumbrance, the credit of the Company's bonds had been maintained, and thirty-three per cent. of the capital paid to the proprietors. Such were the[49] measures adopted by the Commons, and these being stated in the report to the king, a Bill was brought in embodying them all. Many of the proprietors, however, were not satisfied. They were very willing to forget their own folly and greediness, and charge the blame on the Government. On the second reading of Walpole's Bill they thronged the lobby of the House of Commons. The next day the Bill was carried, and gradually produced quiet; but Walpole himself did not escape without severe animadversions. He was accused of having framed his measures in collusion with the Bank, and with a clear eye to his own interest; but he had been strenuously vindicated from the charge, and on the whole the vigour and boldness with which he encountered the storm and quelled it deserve the highest praise, and may well cover a certain amount of self-interest, from which few Ministers are free.And Brewster said he had not.
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THREE:Both Houses adjourned, by successive motions, to the 10th of March; they then met, and were informed by the Lord Chancellor that, by the blessing of Providence, his Majesty being recovered from his severe indisposition, and able to attend to the public affairs of his kingdom, had issued a commission authorising the holding and continuing of Parliament; and the commission having been read, the Chancellor declared himself commanded to convey to them his Majesty's warmest acknowledgments for the additional proofs they had given of their attachment to his person. Addresses were then moved, as at the commencement of a Session, by both Houses, and also addresses of congratulation to her Majesty the queen; and the same evening the capital was illuminated, and the most sincere joy was evidenced in the happy event of the royal convalescence. On the 8th of April Pitt informed the House that the king had appointed Thursday, the 23rd of that month, as a day of public thanksgiving for his recovery, and that it was his Majesty's intention to go in procession to St. Paul's Cathedral on that day, to return thanks to Almighty God. The House voted thanks for his Majesty's having taken measures for their accommodation on the occasion, and passed a resolution to attend.