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THREE:On the death of Stanhope, Sir Robert Walpole was left without a rival, and he received his commission of First Lord of the Treasury on the 2nd of April, and from this period down to 1742 he continued to direct the government of Great Britain. His chief anxiety now was to restore the public credit. He drew up, as Chairman of the Committee of the Commons, a report of all that had been lost in the late excitements, and of the measures that had been adopted to remedy the costs incurred. Amongst these were the resolutions of the House respecting the seven and a half millions the directors of the South Sea Company had agreed to pay to Government; more than five had been remitted, and we may add that on the clamorous complaints of the Company the remainder was afterwards remitted too. The forfeited estates had been made to clear off a large amount of encumbrance, the credit of the Company's bonds had been maintained, and thirty-three per cent. of the capital paid to the proprietors. Such were the[49] measures adopted by the Commons, and these being stated in the report to the king, a Bill was brought in embodying them all. Many of the proprietors, however, were not satisfied. They were very willing to forget their own folly and greediness, and charge the blame on the Government. On the second reading of Walpole's Bill they thronged the lobby of the House of Commons. The next day the Bill was carried, and gradually produced quiet; but Walpole himself did not escape without severe animadversions. He was accused of having framed his measures in collusion with the Bank, and with a clear eye to his own interest; but he had been strenuously vindicated from the charge, and on the whole the vigour and boldness with which he encountered the storm and quelled it deserve the highest praise, and may well cover a certain amount of self-interest, from which few Ministers are free.Whilst Washington man?uvred to prevent Howe from crossing the Schuylkill above him, the English General crossed below on the 22nd of September, and thus placed himself between Philadelphia and the American army. It was now necessary for Washington to fight, or give up that city; but the condition of his troops, deficient in clothes and shoes, owing to the poverty of the commissariat department, with wretched arms, and fatigued by their recent exertions, forbade all hope of maintaining even the defensive. He therefore fell back, and Cornwallis, on the 27th, advancing from Germantown, entered Philadelphia amid the welcome of the loyal inhabitants. Cornwallis occupied the city with four regiments, but the body of the British army encamped at Germantown, ten miles distant. But, though the Americans had evacuated the city, they still held the command of the Delaware below it, and thus cut off the supplies of the British army by sea, and all communication between the army and the fleet, except by the circuitous course of Chester, liable to capture by the enemy.

THREE:It remained only to get information, he stated, and then went up.