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Such were the difficulties which Ministers had to contend with for commencing the war at sea. In one particular, however, there was more liberality; money was ungrudgingly voted; the land-tax was raised from two to four shillings in the pound, and the Sinking Fund was so freely resorted to, that the supplies altogether amounted to upwards of four millions. During these discussions, news came on the 13th of March, that on the 21st of November, 1739, Admiral Vernon had taken Porto Bello from the Spaniards. This was good news for the Opposition, for Vernon was one of their party, and a personal enemy of Walpole. There were great rejoicings and the Lords sent down an address of congratulation to the king, for the concurrence of the Commons. Yet in this they could not avoid making a party matter of it, the address stating that this glorious action had been performed with only six ships, and thus to mark[73] the contrast with the doings of Admiral Hosier in those seas, and so to blacken his memory. The address was carried in a thin House, but only by thirty-six against thirty-one, so that along with the news went the comment to Vernon, that the Ministry begrudged him his glory. Parliament was prorogued on the 29th of April, 1740, and the king set off on his summer visit to Hanover.

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[See larger version]The town, the castle, the arms, horses, and military stores being surrendered to the prince, and the militia and invalids having marched out, a council of war was called to determine future proceedings. Some proposed to march against Wade and bring him to action, others to return to Scotland, but Charles still insisted on marching forward. Lord George Murray was the only one who at all seconded him, and he did not recommend marching far into England without more encouragement than there yet appeared; but as the prince was anxious to ascertain that point, he said he was sure his army, small as it was, would follow him. Charles expressed his conviction that his friends in Lancashire waited only for their arrival; and the Marquis D'Eguilles declaring his expectation of a speedy landing of a French army, under this assurance the council consented to the advance.In the course of this commercial madness the imports greatly exceeded the exports, and there was consequently a rapid drain of specie from the country. The drain of bullion from the Bank of England was immense. In August, 1823, it had ��12,658,240, which in August, 1825, was reduced to ��3,634,320, and before the end of the year it ran as low as ��1,027,000. Between July, 1824, and August, 1825, twelve millions of cash were exported from Great Britain, chiefly to South America. During the Revolutionary war, which had lasted for fourteen years, the capital of the country had been completely exhausted, while all productive labour had been abandoned. The unworked mines were filled with water. They were accessible, it is true, to English speculators, but they were worked exclusively with English capital. The South American mining companies were so many conduits through which a rapid stream of gold flowed from Great Britain. The catastrophe that followed took the commercial world by surprise; even the Chancellor of the Exchequer failed to anticipate the disaster. On the contrary, his Budget of 1825 was based upon the most sanguine expectations for the future, and on the assurance that the public prosperity was the very reverse of what was ephemeral and peculiar, and that it arose from something inherent in the nation. Even at the prorogation of Parliament in July, the Royal Speech referred to the "great and growing" prosperity on which his Majesty had the happiness of congratulating the country at the beginning of the Session. The commercial crisis, however, with widespread ruin in its train, was fast coming upon Britain. Vast importations, intended to meet an undiminished demand at high prices, glutted all the markets, and caused prices to fall rapidly. Merchants sought accommodation from their bankers to meet pressing liabilities, that they might be enabled to hold over their goods till prices rallied. This accommodation the bankers were unable to afford, and sales were therefore effected at a ruinous loss. The South American mines, it was found, could not be worked at a profit, and they made no return for the twenty million pounds of British money which they had swallowed up. The effect was a sudden contraction of the currency, and a general stoppage of banking accommodation. The country banks, whose issues had risen to ��14,000,000, were run upon till their specie was exhausted, and many of them were obliged to stop payment. The Plymouth Bank was the first to fail, and in the next three weeks seventy banks followed in rapid succession. The London houses were besieged from morning to night by clamorous crowds, all demanding gold for their notes. Consternation spread through all classes. There was a universal pressure of creditors upon debtors, the banks that survived being themselves upon the edge of the precipice; and the Bank of England itself, pushed to the last extremity, peremptorily refused accommodation even to their best customers. Persons worth one hundred thousand pounds could not command one hundred pounds; money seemed to have taken to itself wings and fled away, reducing a state of society in the highest degree artificial almost to the condition of primitive barbarism, which led Mr. Huskisson to exclaim, "We were within twenty-four hours of barter."

ONE:

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ONE:The new Parliament met on the 14th of November. Mr. Manners Sutton was re-elected Speaker. A week was spent in the swearing-in of members, and on the 21st the Session was opened by the king in person. In the Royal Speech allusion was made to the throwing open of the ports for the admission of foreign grain, and the distress that had visited the manufacturing districts. The Address was carried in the Upper House without a division, and in the Lower House an amendment, moved by Mr. Hume, found only twenty-four supporters. On the 5th of December Alderman Waithman moved for a committee of inquiry with reference to the part taken by members of Parliament in the Joint Stock mania of 1824-5-6. He stated that within the last three years six hundred joint-stock companies had been formed, most of them for dishonest purposes. The directors of these fraudulent schemes worked with the market as they pleased, forcing up the prices of shares to sell, and depressing them to buy, pocketing the difference. He dwelt particularly on the Arignon Mining Company, of which the late chairman of the Committee of Ways and Means, Mr. Brogden, had been a director. The directors of this company, besides an allowance of three guineas per day for the use of their names, had divided between them a large surplus, arising from traffic in shares. Other members of the House, he alleged, had enriched themselves by bubble companies, particularly Sir William Congreve. At the suggestion of Mr. Canning, the inquiry was restricted to the Arignon Company. A vast amount of loss and suffering had been inflicted by these bubble companies. A check was given to the steady and wholesome progress of the country by the fever of excitement, followed by a sudden and terrible collapse. Healthful commerce was blighted, and one of the worst results of the revulsion was that it not only swept away the delusive projects of adventurers, but paralysed for a season the operations of legitimate enterprise. The commercial atmosphere, however, had been cleared by the monetary crisis of 1825-6. An extensive decomposition of commercial elements was effected. Masses of fictitious property were dispersed, and much of the real capital of the country was distributed in new and safe channels, which caused the year 1827 to open with more cheering prospects.

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ONE:One of the first things which the Regent did was to re-appoint the Duke of York to the post of Commander-in-chief of the Forces. Old Sir David Dundas, as thoroughly aware of his unfitness for the office as the army itself was, had requested leave to retire, and on the 25th of May the appointment of the duke was gazetted. There was a considerable expression of disapproval in the House of Commons of this measure. Lord Milton moved that it was highly improper and indecorous, and he was supported by Lord Althorp, Mr. Wynn, Mr. Elliot, Mr. Whitbread, and others; but the facts which had come to light through Mrs. Clarke's trials, both regarding her and her champion, Colonel Wardle, had mitigated the public feeling towards the duke so far, that the motion was rejected by a majority of two hundred and ninety-six against forty-seven. It is certain that the change from the duke to Sir David Dundas, so far as the affairs of the army were concerned, was much for the worse. The duke was highly popular in that office with the soldiers, and he rendered himself more so by immediately establishing regimental schools for their children on Dr. Bell's system.

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ONE:The British public, thrilled by the news of his heroic achievements, fully sympathised with the victorious general. The thanks of both Houses of Parliament were voted to him and the army, and the Duke of Wellington expressed in the House of Lords the highest admiration of his generalship. Sir Charles Napier became the civil governor of the province which his sword had won for his Sovereign; and he showed by the excellence of his administration that his capacity as a statesman was equal to his genius as a general. He encouraged trade; he carried on extensive public works; he erected a pier at Kurrachee, extending two miles into the water, and forming a secure harbour; he organised a most efficient police; he raised a revenue sufficient to pay the whole expenses of the administration, giving a surplus of ��90,000, which, added to the prize-money, brought half a million sterling into the Company's treasury in one year. The cultivators of the soil were protected in the enjoyment of the fruits of their industry; artisans, no longer liable to be mutilated for demanding their wages, came back from the countries to which they had fled; beautiful girls were no longer torn from their families to fill the zenanas of Mohammedan lords, or to be sold into slavery. The Hindoo merchant and the Parsee trader pursued their business with confidence, and commerce added to the wealth of the new province. The effect of these reforms was conspicuous in the loyalty of the Scindians during the revolt of 1857.THE STANDARD OF PRINCE CHARLIE'S BODYGUARD, TAKEN AT CULLODEN. (In the possession of Sir Archibald Lamb at Beauport, Sussex.)

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ONE:"The present order of things must not, cannot[280] last. There are three modes of proceeding: first, that of trying to go on as we have done; secondly, to adjust the question by concession, and such guards as may be deemed indispensable; thirdly, to put down the Association, and to crush the power of the priests. The first I hold to be impossible. The second is practicable and advisable. The third is only possible by supposing that you can reconstruct the House of Commons, and to suppose that is to suppose that you can totally alter the feelings of those who send them there. I believe nothing short of the suspension of the Habeas Corpus Act and martial law will effect the third proposition. This would effect it during their operation, and, perhaps, for a short time after they had ceased, and then every evil would return with accumulated weight. But no House of Commons would consent to these measures until there is open rebellion, and therefore till that occurs it is useless to think of them. The second mode of proceeding is, then, I conceive, the only practicable one; but the present is not propitious to effect even this. I abhor the idea of truckling to the overbearing Catholic demagogues. To make any movement towards conciliation under the present excitement and system of terror would revolt me; but I do most conscientiously, and after the most earnest consideration of the subject, give it as my conviction that the first moment of tranquillity should be seized to signify the intention of adjusting the question, lest another period of calm should not present itself."

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ONE:On the 20th of November this memorable march commenced. For the convenience of quarters, the two divisions of the army were still maintained, the first led by Lord George Murray, the second by the prince himself. They left a garrison of two hundred men at Carlisle, though, on a muster, it was discovered that above a thousand men had deserted since they left Edinburgh, and that they had now only four thousand five hundred to attempt the conquest of England with. At Penrith the whole army halted for a day, hearing that Wade was coming against them; but finding, on the contrary, that he was gone back, they pursued their route by Shap, Kendal, and Lancaster, to Preston, where they arrived on the 27th. On the way, so far from meeting with any signs of adhesion, the farmers from whom they had taken horses congregated and pursued them on other horses, dismounted some of their cavalry, and carried their horses away again. Preston was a place of ill omen to the Highlanders ever since the defeat of the Duke of Hamilton in the Civil War there, and the surrender of Mackintosh in 1715. They had a fixed idea that no Scottish army could ever advance farther. To break this spell, Lord George led his vanguard at once over the bridge, and quartered them beyond it. The army halted there a day, and then proceeded to Wigan, which they entered the next day. Till he reached Preston, however, Charles received no tokens of sympathy. At Preston, for the first time, he received three hearty cheers, and a few men joined his standard. On the road from Wigan to Manchester the expressions of goodwill increased; throngs of people collected to see him pass, but none would consent to join them. At Manchester the approach of the army had been heralded by a Scottish sergeant, a drummer, and a woman, the men in plaids and bonnets exciting great astonishment, and bringing together thousands of spectators. They announced the prince for the morrow, and began recruiting for his service. They offered a bounty of five guineas, to be paid when the prince came. A considerable number enlisted, receiving a shilling in token of engagement. ��

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THREE:But on the 15th of December, only eight days later, Lord Shelburne followed up the question by moving that the alarming additions annually made to the Debt, under the name of extraordinaries incurred in different services, demanded an immediate check; that the distresses of landed and mercantile interests made the strictest economy requisite, and that the expenditure of such large sums without grants from Parliament was an alarming violation of the Constitution. He showed that these expenses bore no proportion to those of any former wars as to the services performed for them, and stated plainly that the cause was notorious��that the greater part of the money went into the pockets of the Ministers' contracting friends. Lord Shelburne's motion was also rejected. He then gave notice for a further motion of a like nature on the 8th of February.A second question regarding the late Minister became immediately necessary. He had died deeply in debt. It was one of the fine qualities of Pitt that he never had a love of money, or an ambition to create a great estate at the expense of the country, like too many statesmen. At an early period of Pitt's ministerial career, though a bachelor, he was so hopelessly in debt, that his friend, Robert Smith, afterwards Baron Carrington, had looked into his affairs, and declared that, of all scenes of domestic robbery by servants, and wild charges by tradesmen, he had never witnessed anything to compare with it. The financial management of his own income and that of the nation were just on a par in Pitt's case. He let his own money go like water, and he would have flung any quantity of the nation's property away on his quixotic scheme of propping up the thoroughly rotten and hopeless condition of the Continental governments. A strong effort was now made by such of Pitt's creditors as had advanced money to him, to be repaid by the nation. In this endeavour none were more eager than his great friends and relatives, who had been enabled by him to draw a hundredfold from the nation what they had lent him. Wilberforce, however, proposed that they should not only forego their individual claims, but should contribute each a moderate sum towards the raising of forty thousand pounds, which would pay his tradesmen; but here the great relatives and friends became dumb and motionless. Spencer Perceval offered a thousand pounds, and one or two others made some offers; but the appeal was in vain, and a motion was proposed by Mr. Cartwright, on the 3rd of February, that the nation should pay this sum. This was carried at once.

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ONE:The year 1756 opened with menaces to England of the most serious nature. The imbecility of the Ministry was beginning to tell in the neglect of its colonies and its defences. France threatened to invade us, and a navy of fifty thousand men was suddenly voted, and an army of thirty-four thousand two hundred and sixty-three of native troops; but as these were not ready, it was agreed to bring over eight thousand Hessians and Hanoverians. To pay for all this it was necessary to grant excessive supplies, and lay on new duties and taxes. In presenting the money bills in the month of May, Speaker Onslow could not avoid remarking that there were two circumstances which tended to create alarm��foreign subsidies and foreign troops introduced, and nothing but their confidence in his Majesty could allay their fears, or give them confidence that their burdens would be soon reduced. There was, in fact, no chance for any such reduction, for wars, troubles, and disgraces were gathering around from various quarters. The first reverse came from the Mediterranean.But Wellington had no expectation whatever of maintaining his headquarters at that city. His own army was not sufficient to repel any fresh hordes of French who might be poured down upon him; and as for the Spaniards, they had no force that could be relied upon for a moment. The incurable pride of this people rendered them utterly incapable of learning from their allies, who, with a comparatively small force, were every day showing them what discipline and good command could do. They would not condescend to be taught, nor to serve under a foreigner, though that foreigner was everywhere victorious, and they were everywhere beaten. They continued, as they had been from the first, a ragged, disorderly rabble, always on the point of starvation, and always sure to be dispersed, if not destroyed, whenever they were attacked. Only in guerilla fight did they show any skill, or do any good.

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THREE:O'CONNELL AT THE MEETING AT TRIM. (See p. 526.)