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THREE:[See larger version]It is impossible to conceive the extent of suffering and desolation inflicted upon society, almost every family being involved, more or less, in the general calamity. Flourishing firms were bankrupt, opulent merchants impoverished, the masses of working people suddenly thrown out of employment, and reduced to destitution; and all from causes with which the majority had nothing to do��causes that could have been prevented by a proper monetary system. If Bank of England notes had been a legal tender, to all intents and purposes supplying the place of gold as currency; if these notes had been supplied to the country banks in any quantities they required, ample security being taken to have assets equal to their respective issues, then the currency would have had an elastic, self-adjusting power, expanding or contracting according to the requirements of commerce. Inordinate speculation would not have been stimulated by a reckless system of credit, and business would have been conducted in a moderate and judicious manner, instead of rushing on at a high pressure that rendered a crash inevitable. The Government, after anxious and repeated deliberations, supplied a remedy on this principle. They determined to issue one-pound and two-pound notes of the Bank of England, for country circulation, to any amount required. In the meantime the Mint was set to work with all its resources in the coining of sovereigns[244], which, for the course of a week, were thrown off at the rate of 150,000 a day. The notes could not be manufactured fast enough to meet the enormous demand for carrying on the business of the country. In this dilemma the Bank was relieved by a most fortunate discovery��a box containing ��700,000, in one- and two-pound notes that had been retired, but which were at once put into circulation. The people having thus got notes with Government security, the panic subsided, and the demand for gold gradually ceased. The restoration of confidence was aided by resolutions passed at a meeting of bankers and merchants in the City of London, declaring that the unprecedented embarrassments and difficulties under which the circulation of the country laboured were mainly to be ascribed to a general panic, for which there were no reasonable grounds; that they had the fullest confidence in the means and substance of the banking establishments of the capital and the country; that returning confidence would remove all the symptoms of distress caused by the alarms of the timid, so fatal to those who were forced to sacrifice their property to meet unexpected demands. The new measures so promptly adopted and so vigorously carried into effect, raised the circulation of the Bank of England notes in three weeks from ��17,477,290 to ��25,611,800. Thus the regular and healthful action of the monetary system was restored by an adequate circulation of paper money, on Government security, without specie to sustain it. There were at the time of the crash 770 country bankers; 63 stopped payment, 23 of them having subsequently resumed business, and paid twenty shillings in the pound; and even those that were not able to resume, paid an average of seventeen shillings and sixpence in the pound. It was estimated that the total loss to the country by this panic was one hundred million pounds.

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THREE:Skibbereen was described as "one mass of famine, disease, and death; the poor rapidly sinking under fever, dysentery, and starvation." There, as early as the first week in February, 1847, there was constant use for a coffin with movable sides, in which the dead were borne to the grave, and there dropped into their last resting-place. On the whole, the resignation of this stricken people was something wonderful. Outrage was rare, and the violations of the rights of property were not at all so numerous as might have been expected from persons rendered desperate by hunger; and where such things occurred, the depredators were not those who suffered the severest distress. But as the famine proceeded in its desolating course, and people became familiar with its horrors, the demoralising effects of which we have read in such visitations were exhibited in Ireland also. Next to the French, the Irish have been remarkable for their attention to the dead, as well as for the strength of their domestic affections. They had a decent pride in having a respectable "wake" and funeral when they lost any member of the family; and however great their privations were, they made an effort to spare something for the last sad tokens of respect for those they loved. But now there was no mourning for the dead, and but little attention paid to the dying. The ancient and deep-rooted custom with regard to funerals was "swept away like chaff before the wind." The funerals were rarely attended by more than three or four relatives or friends. Sometimes the work of burial was left entirely to persons hired to do it, and in many cases it was not done at all for five or six days after death, and then it was only by threats and rewards that any persons could be got to perform the dangerous duty.

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THREE:The war in Afghanistan was alluded to in the Royal Speech, at the opening of the Session of 1843, in terms of congratulation at the complete success that had attended the recent military operations in that country, owing to the high ability with which they had been directed, as well as the constancy and valour of the European and native forces, which had established, by decisive victories on the scenes of former disasters, the superiority of her Majesty's arms, and had effected the liberation of the British subjects that had been held in captivity. This, therefore, is the proper time to relate briefly the incidents of that war, some of which are full of romantic interest. About the year 1837 the attention of the British[494] Government in India was attracted by the conduct of certain supposed agents of Russia, in the countries to the west of the Indus. The Russian ambassador, Simonitch, was urging the Shah to lay siege to Herat, "the key to India," and the place was soon closely invested. It was saved by the fortuitous presence in the town of a gallant young officer of engineers, Eldred Pottinger, who rallied the inhabitants and beat off the enemy. Meanwhile, another Russian agent, Vicovitch by name, had been sent to Cabul. In order to counteract his designs, it was thought desirable to establish an alliance with the rulers of Afghanistan. With this view overtures were made to Dost Mahomed Khan through a mission headed by Alexander Burnes. These having failed, chiefly from the ill-advised interference with Burnes of the Governor-General, Lord Auckland, the British Government sought to establish a friendly power in Afghanistan by aiding the exiled prince, Shah Sujah, in another attempt to regain his throne. The step, which was condemned by numerous clear-sighted people in India, was probably forced upon Lord Auckland by the Melbourne Ministry, to whom it was recommended by the military authorities at home, among them the Duke of Wellington. The chief of Cabul had an army of 14,000 men, including 6,000 cavalry, with 40 field-pieces. His brothers held Candahar and the surrounding country, with a military force of 4,000 men and 50 guns. The British force assembled to support the claims of his opponent amounted to 28,000 men, aided by a contingent force of 6,000 Sikhs, furnished by the ruler of the Panjab, and about 5,000 troops raised by the Shah's eldest son. This combined force was called "the Army of the Indus." Under the chief command of Sir John Keane, it advanced to the town of Quetta, and thence to Candahar, which was occupied without opposition; and there, on the 8th of May, 1839, Shah Sujah was solemnly enthroned. After this the march was resumed towards Cabul. The fortress of Ghuznee, believed by the Afghans to be impregnable, was blown up and taken by storm. The invading army reached Cabul, and on the 7th of August the restored sovereign made his public entry into his capital. Having thus accomplished its mission, the Army of the Indus returned home, leaving behind a detachment of 8,000 men. For two years Shah Sujah and his allies remained in possession of Cabul and Candahar, Dost Mahomed having surrendered after having won a partial success over the British on the 2nd of November, 1840.

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THREE:

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