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It was at the close of 1719, when George I. returned from Hanover, that this Company proposed to Ministers to consolidate all the funds into one. It was strange that both Ministers and merchants could be deluded by the hope of enriching themselves by a share of the trade with the Spanish South American provinces, when Spain herself, in full enjoyment of them, was sunk into indigence and weakness, and presented the most determined resistance to the unfettered intercourse of any other nation with them. Yet Sir John Blunt, a leading director of the South Sea Company, persuaded the Ministers that by granting the Company power to deal with the public funds, and especially to buy up the unredeemable annuities which had been granted in the two preceding reigns, chiefly on terms of ninety-nine years, and which now amounted to about eight hundred thousand pounds a year, they could, in twenty-six years, pay off the entire National Debt. But, to enable them to do this, they must be empowered to reduce all the different public securities to one aggregate fund in their hands, to convert both redeemable and unredeemable debts into stock by such arrangements as they could make with the holders, and to have certain commercial privileges vested in them. Ministers accepted the proposals with great alacrity. Aislabie introduced the scheme to Parliament in the month of February, 1720, declaring that, if it was accepted by the House, the prosperity of the nation would be amazingly enhanced, and all its debts liquidated in a very few years. Craggs seconded the proposal in most sanguine terms, expressing his conviction that every member of the House must be ready to adopt so advantageous an offer. Ministers had already closed with the proposals of the Company, and they were themselves greatly disconcerted by the suggestion of Mr. Thomas Brodrick, the member for Stockbridge, who expressed his entire accordance with Ministers, but thought that the nation should endeavour to obtain the best terms for itself by opening the competition to every other company or association of men as well as that in question. Ministers were confounded by this proposal, and Aislabie endeavoured to get out of it by declaring that to do this would be like putting the nation up to auction, and that such things should be done with spirit. But Jekyll interposed, saying it was this spirit which had ruined the nation, and it was now requisite to consider seriously what was best for the public. A violent debate ensued, in which Walpole eloquently recommended open competition, and was sharply replied to by Lechmere. The question was carried in favour of competition; and then the Bank of England, which before had coolly declined to enter into the proposals, suddenly appeared in a new temper, and made liberal offers for the privilege of thus farming the public debts. But the South Sea Company was not to be outdone; it offered seven millions and a half, and the Bank gave way in despair.He had dreaded a scene, but he was not so sure that this was not worse. "You are the wife for a soldier," he said somewhat feebly; "no tears and fuss andall that kind of thing."
ONE:The troops settled down to wait, and Cairness, having further sounded some of the Chiricahua squaws, went again in search of Crook. He was seated under an ash tree with his back against the trunk and a portfolio[Pg 300] upon his knee, writing. When Cairness stopped in front of him, he glanced up.
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The style of St. Paul's, and, indeed, of all Wren's churches, is neither Grecian nor Gothic, but Italian, influenced by the fashion which Bernini, the Italian architect of Louis XIV., had introduced into France. It is a class of architecture of which the Grecian is the basis, but which is so freely innovated upon as to leave little general resemblance. In its different parts we have columns and pilasters of every Grecian and, indeed, Roman order, pediments, peristyles, architraves, and friezes, mingled up with windows of all sorts, and all kinds of recesses and projections, the fa?ades and intercolumniations ornamented with festoons, and wreaths, and human masks, and the whole surmounted by a great Eastern dome, and by campaniles partaking of[159] all the compilations of the main buildings. St. Paul's itself is a noble building, notwithstanding the manifest gleanings from the antique and the medi?val, and their combination into a whole which has nothing original but their combination into one superb design. Besides St. Paul's, the rest of Wren's churches are disappointing, and we cannot avoid lamenting that he had lost the sense of the beauty of Gothic architecture, especially when we call to mind the exquisite churches of that style which adorn so many of the Continental cities. Whilst the exteriors of Wren's churches show heavily in their huddled-up situations in London streets, their interiors, in which much more of the Grecian and Roman styles is introduced, are equally heavy, and wanting in that pliant grace which distinguishes the interiors of Gothic cathedrals. Perhaps the noblest work of Wren next to St. Paul's is Greenwich Hospital, which is more purely Grecian, and therefore displays a more graceful and majestic aspect. The Palace of Hampton Court, attached to the fine old Tudor pile of Cardinal Wolsey, is a great square mass, in which the Dutch taste of William is said to have set aside Wren's original design. But surely William did not compel him to erect that (in such circumstances) ponderous barbarism of a Grecian colonnade in the second quadrangle of Hampton Court, attaching it to a Gothic building. In fact, neither Wren nor Inigo Jones appears to have had the slightest sense of the incongruity of such conjunctions. Jones actually erected a Grecian screen to the beautiful Gothic choir of Winchester Cathedral, and placed a Grecian bishop's throne in it, amid the glorious canopy-work of that choir. The return to a better taste swept these monstrosities away.You did just what I wanted, he said. Lets get the airplane in. Then we can talk.The year 1743 opened with a mighty struggle on the subject of gin. In 1736, as we have seen, the awful increase of drunkenness, which was attributed to the cheapness of gin, induced a majority of the House of Commons to pass an Act levying twenty shillings a gallon duty upon the liquor, and charging every vendor of it fifty pounds per annum for a licence. Walpole at the time declared that such an attempt to place gin beyond the reach of the poor consumers would fail; that it would fail equally as a source of revenue, for it would lead to wholesale smuggling and every possible evasion of the law. The event had proved Walpole only too correct in his prognostications. So far from checking the use of gin, the Act had stimulated it enormously. The licences, so preposterously high, were wholly neglected; no duty was paid, yet the destructive liquid was sold at every street corner. Ministers now saw that, by attempting too much, every thing in this case had been lost. They were sacrificing the revenues only to sacrifice the well-being of the people. They determined, therefore, to reduce the licences from fifty pounds to one pound per annum, and at the same time to retain a moderate duty on the liquor. By this means the fatal compound would remain much at the same price, but the vendors would be induced to take out licences, and the revenues would be greatly improved, whilst the whole sale of the article would be more under the restraints of law and police. A Bill was framed on these principles, and passed rapidly through the Commons; but in the Lords it encountered a determined opposition. It was, however, carried entire, and, says Smollett, "we cannot help averring that it has not been attended with those dismal consequences which the Lords in the Opposition foretold."CHAPTER XXX DICK ENCOUNTERS THE GHOST
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