THREE:When the sun was at midheaven, and the shadows of the pines beyond the clearing fell straight, the [Pg 35]clanging of a triangle startled the mountain stillness. The Mexicans dropped their tools, and the white teamster left a mule with its galled back half washed.
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ONE: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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TWO:Whilst this powerful confederacy was putting forth all its strength to drive from the seat of supremacy the man who had so long guided the fortunes of England, another confederacy was knitting together its selfish members to rend in pieces and share amongst them the empire of the young Queen of Austria. Frederick was willing enough to make a league with France, but he was cautious enough not to make it too soon. He wanted to know whether he could keep England out of the campaign, in which case he could deal easily with Austria himself. Walpole's attempts to prevent the war from becoming European, however, failed, and the treaty being signed with the Prussian king, Marshal Maillebois marched an army across the Rhine, and Belleisle and Broglie went with another. Maillebois pursued his course direct for Hanover, where George was drilling and preparing a number of troops, but in no degree capable of making head against the French. Panic-stricken at their approach, he made haste to come to terms, and agreed to a year's neutrality for Hanover, leaving Maria Theresa to her fate, and, moreover, engaging not to vote for the election of her husband, the Duke of Lorraine, to be Emperor. The news of this conduct of the King of England in the person of the Elector of Hanover, was received in Great Britain with the utmost indignation. Belleisle and De Broglie had, during this time, joined their forces to those of the old Elector of Bavaria, the constant enemy of Austria and the friend of France, and had marched into Austria. He took Linz, on the Danube, and commenced his march on Vienna. As this allied army approached Vienna, Maria Theresa fled with her infant son, afterwards Joseph II., into Hungary, her husband and his brother, Prince Charles of Lorraine, remaining to defend the city.[75] The Hungarians received their menaced queen with enthusiasm. She had done much since the recent commencement of her reign to win their affections. She had been crowned in the preceding month of June in their ancient capital, and had sworn to maintain their ancient constitution in all its force, and the people were fervent in their loyalty. When, therefore, she appeared before the Hungarian Parliament in Presburg with her son in her arms, and called upon that high-spirited nation to defend her against her perfidious and selfish enemies, the sensation was indescribable. All rose to their feet, and, drawing their swords half-way from the scabbard, they exclaimed, "Our lives and our blood for your majesty! We will die for our king, Maria Theresa!"
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