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The South Sea Company, with a folly of which extreme greed only is capable, endeavoured to put down these rival schemes and obtained an order from the Lords Justices and writs of scire facias against several of these new bubbles. It was like raising a wind to blow away the bubbles, forgetting that their own was a bubble too, and would go with them. The moment that the people began to distrust one they distrusted all. The panic became as great as the mania had been. The South Sea stock dropped in less than a month from one thousand to below six hundred. There was a simultaneous rush to sell out, and the shares must have sunk instantly to nil but for the gigantic exertions of the Company to raise money and buy in. The relief, however, was but temporary. The bankers and pawnbrokers who had advanced money on scrip broke and fled; merchants, goldsmiths, and speculators rushed away after them. Walpole was summoned in haste from Haughton to devise some means of staying the panic. He endeavoured to get the Bank of England to circulate three millions of South Sea bonds for a year; but the Bank, seeing that the case was desperate, declined it. This was decisive. The rage and despair of the swarming dupes were indescribable. They heaped[48] execrations not only on the South Sea Company, but on Ministers, the king, his mistresses, and the Royal Family, who had all been deep in the affair, and who had taken good care of themselves. George landed at Margate on the 9th of November, soon after which the South Sea stock fell to one hundred and thirty-five. On the 8th of December Parliament met, and promptly began to investigate the scandal.

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Robert Pollok was a young Scottish minister, who rose suddenly to popularity by the publication of a poem in blank verse, entitled "The Course of Time." It was long and discursive, extending to ten books. The style was very unequal, sometimes rising to a high level, and often sinking to tame prose. The author had a wonderful command of words for one so young, and time would, no doubt, have mellowed what was crude and refined what was coarse, if he had not been prematurely cut off, just when his genius and his goodness had gathered round him a host of warm friends. He died of consumption, on the 15th of September, 1827. His early death contributed to the popularity of the poem, which ran through many editions.Anne demanded Oxford's resignation. The "dragon," as Arbuthnot styled him, held the White Staff with a deadly grip; but, on the 27th of July, he was compelled to relinquish it, and that afternoon her Majesty stated to the Council her reasons for dismissing him. His confidant and creature, Erasmus Lewis, himself thus records them:"The queen has told all the Lords the reasons of her parting with him, namely, that he neglected all business; that he was seldom to be understood; that when he did explain himself she could not depend upon the truth of what he said; that he never came to her at the time she appointed; that he often came drunk; lastly, to crown all, that he behaved himself towards her with bad manners, indecency, and disrespect."
ONE: THREE:But no such easy rendering of the contract was contemplated by Buonaparte. He did not even adhere to the letter of it. French officers were to be placed in all the Dutch garrisons, and eighteen thousand troops were to be maintained, of whom six thousand were to be French. Instead of six thousand soldiers, General Oudinot appeared at the head of twenty thousand at Utrecht. These, Buonaparte informed Louis, were to occupy all the strong posts of the country, and to have their headquarters at Amsterdam, his capital. Louis determined to be no party to this utter subjugation of the country, nor any longer to play the part of a puppet sovereign. On the 1st of July he executed a deed of abdication in favour of his son, Napoleon Louis, expressing a hope that, though he had been so unfortunate as to offend the Emperor, he trusted he would not visit his displeasure on his innocent family. He then drew up a vindication of his conduct, saying that he was placed in an impossible situation, and that he had long foreseen this termination of it. He sent this to be published in England, the only place in which it could appear; and he then gave an entertainment to a number of his friends at his palace at Haarlem, and at midnight entered a private carriage and drove away. He proceeded to Graz, in Styria, where he devoted his leisure to the instruction of his children, and to literature, and wrote "Documens Hìstoriques et Rflexions sur le Gouvernement de la Holland"being an account of his administration of the government of that countryand also a novel, called "Marie, ou les Hollandaises." His wife, Hortense, went to Paris, where she became a great leader in the world of fashion. On the 9th of July, only eight days after the abdication of Louis, Buonaparte issued a decree declaring Holland "re-united to France!" Oudinot marched into Amsterdam, and took possession of it in the name of his master. It was declared the third city of the French empire. The French Ministers issued reports to vindicate this annexation, which was a disgraceful breach of Napoleon's[5] pledge to the Senatethat the Rhine should be the boundary of Franceand also of his repeated assurances that Holland should remain an independent kingdom.Napier, in his "History of the Peninsular War," describes the scene with the enthusiasm of a soldier:"Such a gallant line issuing from the smoke, and rapidly separating itself from the confused and broken multitude, startled the enemy's heavy masses, which were increasing and pressing onwards as to an assured victory. They wavered, hesitated, and then, vomiting forth a storm of fire, hastily endeavoured to enlarge their front, while a fearful discharge of grape from all their artillery whistled through the British ranks. Sir William Myers was killed; Cole, and three colonelsEllis, Blakeney, and Hawkshawefell wounded; and the Fusilier battalions, struck by the iron tempest, reeled and staggered like sinking ships. Suddenly and sternly recovering, they closed on their terrible enemies, and then was seen with what a strength and majesty the British soldier fights. In vain did Soult, by voice and gesture, animate his Frenchmen; in vain did the hardiest veterans, extricating themselves from the crowded columns, sacrifice their lives to gain time for the mass to open out on such a fair field; in vain did the mass itself bear up, and, fiercely arising, fire indiscriminately on friends and foes, while the horsemen, hovering on the flank, threatened to charge the advancing line. Nothing could stop that astonishing infantry. No sudden burst of undisciplined valour, no nervous enthusiasm, weakened the stability of their order. Their flashing eyes were bent on the dark columns in their front; their measured step shook the ground; their dreadful volleys swept away the head of every formation; their deafening shouts overpowered the dissonant cries that broke from all parts of the tumultuous crowd, as foot by foot, and with a horrid carnage, it was driven by the incessant vigour of the attack to the farthest edge of the hill. In vain did the French reserves, joining with the struggling multitudes, endeavour to sustain the fight; their efforts only increased the irremediable confusion, and the mighty mass, giving way like a loosened cliff, went headlong down the ascent. The rain flowed after in streams discoloured with blood, and one thousand five hundred unwounded menthe remnant of six thousand unconquerable British soldiersstood triumphant on the fatal hill." The loss on both sides was fearful, for no battle had ever been more furiously contested. The French are said to have lost nine thousand men; the allies, in killed and wounded, seven thousand, of whom two-thirds were British. The French had two generals killed and three wounded. Some persons were inclined to blame Marshal Beresford for risking a battle in the circumstances; but Wellington gave him the highest praise, and declared that the frightful loss was owing to the utter failure of the Spaniards; that their discipline was so bad that it was found impossible to move them without throwing them into inextricable confusion; that at both Talavera and Albuera the enemy would have been destroyed if the Spaniards could have been moved; and that the same course had prevented Lape?a from supporting Graham at Barrosa. Beresford maintained his position for two days in expectation of a fresh attack by Soult; but, no doubt, that general had heard that Lord Wellington was rapidly advancing to support Beresford; and on the morning of the 18th Soult commenced his retreat to Seville. With his small handful of cavalry Beresford pursued him, and cut off a considerable number of his rear, and, amongst them, some of the cavalry itself at Usagn, taking about a hundred and fifty of them prisoners. Had we had a proper body of horse, the slaughter of the flying army would have been awful. Soult did but quit the ground in time; for, the very day after, Wellington arrived at Albuera with two fresh divisions.
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FORE:God's will be done!

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FORE:The British Cabinet having come to the conclusion that the Duke of Wellington ought not to abstain from attending the Congress because of its meeting in an Italian city, and thinking so himself, he set out for Verona, after a fortnight's sojourn in Vienna.

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FORE:On the Rhine there was a good deal of sharp fighting between the French and Austrians. General Bender had been compelled to surrender Luxembourg, on the 7th of July, and allowed to retire with his army of ten thousand men into Germany, on condition of not serving again till exchanged. There then remained little on either bank of the Rhine to restrain the advance of the French, except Mayence on the left bank, and Manheim and Düsseldorf on the right. Pichegru, in August, made himself master of both Düsseldorf and Manheim, and was advancing to the reduction of Heidelberg when he was met by old General Wurmser, and driven back to Manheim. He was, in fact, meditating treachery. Jourdain, who was advancing in another direction to co-operate with Pichegru in the reduction of Mayence, was encountered by Clairfait, and driven back to Düsseldorf. Clairfait then attacked the French forces already investing Mayence, and the garrison making a sally at the same time, the French were completely dispersed, and part retreated north and part south. Wurmser then invested Manheim, and compelled its surrender on the 22nd of November. Pichegru signed an armistice with the Austrians before joining them. Jourdain also retreated.Why did his master break?

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FORE:Accordingly, Benningsen communicated Alexander's willingness for peace, on the 21st of June, and the armistice was ratified on the 23rd. Buonaparte determined then, as on most occasions, to settle the treaty, not by diplomatists, but personally, with the Czar. A raft was prepared and anchored in the middle of the Niemen, and on the morning of the 25th of June, 1807, the two Emperors met on that raft, and embraced, amid the shouts of the two armies arranged on each bank. The two Emperors retired to a seat placed for them on the raft, and remained in conversation two hours, during which time their attendants remained at a distance. The town of Tilsit was declared neutral ground, and became a scene of festivities, in which the Russian, French, and even Prussian officers, who had been so long drenching the northern snows with each other's blood, vied in courtesies towards each other. Amongst them the two Emperors appeared as sworn brothers, relaxing into gaiety and airs of gallantry, like two young fashionables. On the 28th the King of Prussia arrived, and was treated with a marked difference. He was bluntly informed, that whatever part of his territories were restored would be solely at the solicitation of the Emperor of Russia.On the return of the king and Carteret, Parliament was opened on the 1st of December. The first trial of the Opposition was on the Address, on which occasion its real strength was not called forth, and this was carried by two hundred and seventy-eight votes against one hundred and forty-nine. But the subject of Hanoverian troops and Hanoverian measures soon displayed its extent and virulence. There was a vehement feeling against everything relating to Hanover, and Pitt lost no time in denouncing Carteret and his measures in the most bitter terms. Pitt's thunder was echoed by others, and the scene in the Commons was described by a spectator as like nothing but a tumultuous Polish Diet. Such was the ferment amid which opened the year 1744, and it soon became evident that the existence of the country was at stake. Preparations had been making for the invasion of England for some time. Cardinal Tencin, the new French Minister, sent Murray of Broughton to James in Rome, to desire him to send his eldest son, Prince Charles, to France to be in readiness for the campaign[87] in England, and in due course the Young Pretender arrived at Gravelines.

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TWO:The Ministers, instead of making rational concessions to the demands of the people for Reform, proceeded without delay to fresh aggressions on their liberties. Not contented with the existing suspension of the Habeas Corpus Act, and with introducing into the Lords a Bill for the protection of the king's person and Government, they passed a law prohibiting all political meetings, and another to extend the law of treason; they recommenced arrests and prosecutions, and sent out shoals of spies and informers, so that all the safeguards of public liberty were completely annihilated. These despotic measures did not pass without energetic opposition and a good deal of violent language from Fox; but all remonstrance was useless against Pitt's majority. Still the alarm of the Government was not allayed. On the 8th of December the king sent a message to both Houses, reiterating his assurance of an earnest desire to negotiate peace with France. The Opposition very properly pointed out that, so far as France was concerned, victorious in its armies, and as anti-monarchical in its government as ever, there were less hopes of any consent on its part to peace than when the Opposition had so repeatedly urged the same measure. In this unsatisfactory state closed the year 1795.In the West Indies a small squadron and some land troops took the islands of Tobago, St. Pierre, and Miquelon. At the invitation of the planters, we also took possession of the western or French portion of St. Domingo; but in Martinique, where we had had the same invitation, the Royalist French did not support our efforts according to promise, and the enterprise failed from the smallness of the force employed. Besides these transactions, there occurred a severe fight between Captain Courteney, of the frigate Boston, with only thirty-two guns and two hundred men, and the Ambuscade, a French frigate of thirty-six guns and four hundred picked men, in which both received much damage, and in which Captain Courteney was killed, but in which the Frenchman was compelled to haul off. In the East Indies we again seized Pondicherry, and all the small factories of the French.
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One of the pioneers of the science of political economy at this time was Dr. Davenant, the son of Sir William Davenant, the poet. He had no genius for drawing principles and theories from accumulated facts, but he was a diligent collector of them, and his porings amongst State documents and accounts have served essentially the historians and political economists of our day.Brazilian 0 10 0 66 0 0This was not the only bitter pill that poor Lord Eldon was compelled to swallow. Without one word of intimation from the king or the Prime Minister, he learnt for the first time from the Courier that Mr. Huskisson had been introduced into the Cabinet. Mr. Huskisson was made President of the Board of Trade, and in his stead Mr. Arbuthnot became First Commissioner of the Land Revenues. Mr. Vansittart, who had proved a very inefficient Chancellor of the Exchequer,[231] was raised to the peerage by the title of Lord Bexley, and got the quiet office of Chancellor of the Duchy of Lancaster. He was succeeded in the more important office by a much abler financier, Mr. Robinson.
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