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FORE:Affairs had now assumed such an aspect that the different sections of the Opposition saw the necessity of coalescing more, and attending zealously; but still they were divided as to the means to be pursued. A great meeting was held on the 27th of November at the Marquis of Rockingham's, to decide on a plan of action. It was concluded to move for a committee on the state of the nation, and Chatham being applied to, advised that the very next day notice should be given that such a motion should be made on Tuesday next, the 2nd of December. The motion was made, the committee granted, and in it the Duke of Richmond moved for the production of the returns of the army and navy in America and Ireland. Whilst Lord North��who, if he had been his own master, would have resigned��was refusing to produce the necessary papers, the Lords consented to this measure; and at this very moment came news of the surrender at Saratoga, which was speedily confirmed.

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident.

FORE:Before pursuing the immediate story of Buonaparte and his pursuers from the North, we will narrate the progress of Lord Wellington during this year. It was a favourable circumstance for him that, although he continued to receive no little trouble, impediment, and discouragement from the proud and thankless Spaniards, the turn of affairs in the North compelled Napoleon to withdraw some of his best troops and his best general from that country to aid him in his new campaign against Russia, Sweden, and Germany. He had altogether two hundred and seventy thousand men in Spain, in one quarter or other, to oppose the small Anglo-Spanish army in the south, and the miscellaneous army under Lord Wellington, amounting only to about seventy thousand men. He therefore withdrew one hundred and fifty skeletons of battalions from Spain��amounting, nevertheless, to only about twenty thousand men��as a means of disciplining his young conscripts. What was of far more consequence, he withdrew Soult, the only general that occasioned Wellington much trouble. The nominal Commander-in-Chief of the French armies in Spain was King Joseph, but the real commanders were Marshal Jourdan and Generals Clausel and Foy in the north, General Reille at Valladolid, Drouet at Madrid, and Suchet at Toledo.

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident.

FORE:In all these transactions Carteret showed the most facile disposition to gratify all the Hanoverian tendencies of the king, in order to ingratiate himself and secure the Premiership at home. But in this he did not succeed; he was much trusted by George in foreign affairs, and in them he remained. Lord Wilmington, Prime Minister, had died two months before the signing of the treaty at Worms, and the competitors for his office were Pelham, brother of the Duke of Newcastle, and Pulteney. Pelham was supported by Newcastle, Lord Chancellor Hardwicke, and still more powerfully by the old Minister under whom he had been trained��Lord Orford, who, though out of office, was consulted in everything relating to it. Pulteney and Pelham had both, according to their friends, neglected the necessary steps for succeeding Wilmington. Pulteney had declined any office, vainly hoping that his great popularity would enable him to guide public affairs. His friends reminded him that had he taken the Treasury on Walpole's resignation, he would now have been still at the helm. Pelham's great adviser, Lord Orford, said to him, "If you had taken my advice, and held the Exchequer under Wilmington, the whole had dropped into your mouth." Pelham, however, received the appointment from the king, and this was communicated in a letter from Carteret, who candidly told him that, as the old friend and colleague of Pulteney, Lord Bath, he had done all in his power to secure the office for him, but now he would support Pelham cordially, notwithstanding. Pelham was at this period forty-seven years of age, of far inferior talent to Orford, but pursued his cautious principles and acted under his advice.

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident.

FORE: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."But though the abandonment, for the present, of this enterprise, so fondly cherished by France, was calculated to cast a damp on the country, Buonaparte had another project ready which flattered the French pride of conquest. This was to seize on Egypt, as the preliminary to the fall of Britain. He had for some time entertained this idea, and had written from Italy to the Directory on the subject in the previous September. To insure the real destruction of England, he said, they must make themselves masters of Egypt. Malta and Corfu must be seized first, and for this purpose he conceived eight or ten sail of the line and twenty-five thousand men would suffice. The possession of Egypt, he contended, would draw all the commerce of the East thither, instead of taking the circuitous route by the Cape of Good Hope. He had thoroughly inspired Talleyrand with his scheme. Egypt was imagined to be much more wealthy than it was, and there were monuments of ancient art for Buonaparte and his right-hand bandit, Monge, to lay hands on. The Directory, which was extremely unpopular, uneasy at the presence of so popular and daring a person, were glad to be rid of him anywhere, the farther off the better. There were not wanting counsellors who already advised him to perpetrate a coup d'��tat, and place himself at the head of affairs; but Buonaparte, not at all averse from the prospect, replied, "The pear is not ripe." He knew that, however popular with his own army, he was looked on with jealousy by the army of the Rhine, which served under, and prided themselves in, Moreau. He knew that the middle classes hated him for sweeping them away with grape-shot in the affair of the Sections. He hoped to make[465] himself yet more popular and more necessary, and that in the meantime the Directory would have completed their full measure of odium. He now therefore plunged into arrangements for this grand conquest of the East.

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident.