TWO: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.John Gay, a contemporary of Pope, Swift, and Arbuthnot, is now best known by his "Fables" and his "Beggar's Opera." His "Fables" have been extremely popular, and still make him a general name; but, in his own time, his "Beggar's Opera" was his great success. Its wit, its charming music, its popular characters, gave it a universal favour; and it is the only English opera that even to this time has become permanent. Gay's "Trivia; or, the Art of Walking the Streets of London," is still amusing, and some of his ballads have a lightness and buoyancy about them which justify the esteem in which he was held.
THREE:On the 23rd of March the Allied sovereigns, including that of the United Kingdom, signed, by their plenipotentiaries, a new treaty of alliance offensive and defensive, on the same principles as the Treaty of Chaumont, entered into in March, 1814. The Duke of Wellington then hastened away to Belgium to muster his forces therefor Belgium, as it had been so often before, was sure to become the battle-ground on this occasion. So early as the 5th of April he announced that he had placed thirteen thousand four hundred men in the fortresses of Belgium, and had besides twenty-three thousand British and Hanoverian troops, twenty thousand Dutch and Belgian, and sixty pieces of artillery. Unfortunately, the bulk of his victorious army of the Peninsula had been sent to the inglorious contest with America, where a good naval blockade would have been the most effectual kind of warfare. But he observed that Buonaparte would require some time to assemble a strong force, and this time must be employed by Britain to collect a correspondingly powerful army. The Duke, with accustomed energy, not only applied himself with all his strength to this object, but to stimulating, by letters, the Allied sovereigns to hasten up their quotas, some of them notoriously the slowest nations in the world.Mr. Smith O'Brien, early in July, gave occasion for another great debate on the state of Ireland, by moving that the House resolve itself into a committee for the purpose of taking into consideration the causes of the discontent prevailing there, with a view to the redress of grievances, and the establishment of a system of just and impartial government in that part of the United Kingdom. The honourable gentleman reviewed the history of the country since the union, discussed the questions of the National Debt and taxation, the Church Establishment, the position of the Roman Catholic hierarchy, Government appointments, Coercive Acts, and land tenure. Lord Eliot, then Chief Secretary of Ireland, answered his arguments at length. A great number of speakers followed, continuing the debate for five nights. At length the House divided, when the numbers wereagainst the motion for a committee, 243; for it, 164. The whole of these vexed questions again came up on the 9th of August, when the Irish Arms Bill was set down for the third reading. On this occasion Sir Robert Peel made some remarks, expressing the feeling of his Government with regard to Ireland, declaring that he viewed the state of things there with deep anxiety and pain. He had hoped that there was a gradual abatement of animosity on account of religious differences; that he saw the gradual influence of those laws which removed the political disabilities of Catholics and established civil equality. He thought he saw, in some respects, a great moral and social improvement; that there was a hope of increasing tranquillity, which would cause the redundant and superfluous capital of England, then seeking vent in foreign and precarious speculations, to flow into Ireland. But the agitation had, in his opinion, blasted all those hopes.
THREE:The news from Boston could not have arrived at a moment when the public mind was more ill-disposed towards the Americans. The affair of the abstraction of Mr. Whately's private letters from his house or office, and their publication, contrary to custom and to its own engagement, by the Massachusetts Assembly, had produced a deep conviction in all classes in England of the utter disregard of honour both in the American colonists and their agent, Franklin. This disgraceful violation of the sacred security of private papers roused the indignation of Mr. William Whately, banker, in Lombard Street, and brother to the late Mr. Thomas Whately. He conceived strong suspicions of John Temple, afterwards Sir John Temple, Lieutenant-Governor of New Hampshire, and, though one of the Commissioners of Customs at Boston, really hostile to the Commission, and a strong partisan of Franklin. Whately challenged Temple, and was severely wounded in the rencontre. At this, Franklin came forward with an avowal that neither the late Mr. Whately nor Mr.[211] Temple had anything to do with the carrying off of the letters; that he alone was responsible for this act.Mar had left London on the 2nd of August to raise the Highlands. In order to blind the agents of Government he ordered a royal leve on the 1st, and on the following night got on board a collier bound for Newcastle, attended by Major-General Hamilton and Colonel Hay. From Newcastle they got to the coast of Fife in another vessel. On the 6th of September he raised the standard of the Chevalier at Kirkmichael, a village of Braemar. He was then attended by only sixty men, and the Highland chiefs, extremely alive to omens, were startled by the gilt ball falling from the summit of the pole as it was planted in the ground. The standard was consecrated by prayers, and he was in a few days joined by about five hundred of his own vassals. The gentlemen who came on horseback, only about twenty at first, soon became several hundreds, and were named the Royal Squadron. The white cockade was assumed as the badge of the insurgent army, and clan after clan came in; first the Mackintoshes, five hundred in number, who seized on Inverness. James was proclaimed by Panmure at Brechin, by the Earl[29] Marshal at Aberdeen, by Lord Huntly at Gordon, and by Graham, the brother of Claverhouse, at Dundee. Colonel Hay, brother of the Earl of Kinnaird, seized Perth, and in a very short time the country north of the Tay was in the hands of the insurgents.
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