FORE:All the traversers were found guilty. The Attorney-General did not press for judgment against the Rev. Matthew Tierney. Upon the rest Mr. Justice Burton, who was deeply affected, pronounced judgment on the 30th of May, in the following terms:"With respect to the principal traverser, the Court is of opinion that he must be sentenced to be imprisoned for the space of twelve calendar months; and that he is further to be fined in the sum of 2,000, and bound in his own recognisances in the sum of 5,000, and two sureties in 2,500, to keep the peace for seven years. With respect to the other traversers, we have come to the conclusion that to each shall be allotted similar sentences, namely, that they be imprisoned for the space of nine calendar months, each of them to pay 50 fine, and to enter into their own recognisances of 1,000 each, and two sureties of 500, to keep the peace for seven years."
8.00 - 10.00 | JUN 09,2014
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FORE:Nothing could exceed the consternation and indignation of the Spanish people when they found their great strongholds guarding the entrances from France into the country thus in the hands of the French. Had there been a king of any ability in Spain, an appeal to the nation would, on this outrage, have roused it to a man, and the plans of Buonaparte might have been defeated. But Godoy, knowing himself to be the object of national detestation, and dreading nothing so much as a rising of the people, by whom he would most certainly be sacrificed, advised the royal family to follow the example of the Court of Portugal, and escape to their trans-Atlantic dominions; which advice could only have been given by a miscreant, and adopted by an idiot. To surrender a kingdom and a people like those of Spain, without a blow, was the extreme of cowardice. But, as if to urge the feeble king to this issue, at this moment came a letter from Buonaparte, upbraiding him with having received his acceptance of the match between their houses coldly. Charles, terrified in the extreme, wrote to declare that nothing lay so near his heart, and at the same time made preparations to be gone. The intention was kept as secret as possible, but the public soon became aware of the Court's proposed removal from Madrid to Cadiz, in order then to be able to embark for America. The Prince of Asturias and his brother protested against the project; the Council of Castile remonstrated; the populace were in a most tumultuous state, regarding the plan as originating with Godoy, and surrounded the palace with cries and gestures of dissatisfaction. The king was in a continual state of terror and irresolution, but Godoy pressed on matters for the flight.
9.00 - 10.00 | FEB 15,2014
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FORE:The winter of 1836-7 was marked by great commercial activity, and a strong tendency to over-trading, chiefly on the part of the banks. The result was a reaction, and considerable monetary embarrassment. In the reckless spirit of enterprise which led to these consequences, the American houses took the lead. The American speculators indulged an inordinate thirst for gain by land jobs, and over-trading in British produce. The most remarkable examples of this were afforded by three great American houses in London, called "the three W.'s." From an account of these firms, published in June, 1837, it appeared that the amount of bills payable by them from June to December, was as follows: Wilson and Co.,[411] 936,300; Wigan and Co., 674,700; Wildes and Co., 505,000; total acceptances, 2,116,000. This was upwards of one-sixth of the aggregate circulation of the private and joint-stock banks of England and Wales, and about one-eighth of the average circulation of the Bank of England. The shipments to America by Wigan and Co. amounted to 1,118,900. The number of joint-stock banks that started into existence at this time was remarkable. From 1825 to 1833 only thirty joint-stock banks had been established. In that year the Charter of the Bank of England being renewed, without many of the exclusive privileges it formerly enjoyed, and the spirit of commercial enterprise being active, joint-stock banks began to increase rapidly. There was an average of ten new companies annually, till 1836, when forty-five of these establishments came into existence in the course of ten months. In Ireland there were ten started in the course of two years. The consequence of this greatly increased banking accommodation produced a wild spirit of commercial adventure, which collapsed first in America, where the monetary confusion was unexampledbankers, importers, merchants, traders, and the Government having been all flung into a chaos of bankruptcy and insolvency. This state of things in America had an immediate effect in England. Discounts were abruptly refused to the largest and hitherto most respectable houses of Liverpool and London. Trade, in consequence, became paralysed; prices suddenly dropped from thirty to forty per cent.; and the numerous share bubblesthe railway projects, the insurance companies, the distillery companies, the cemetery companies, the sperm oil, the cotton twist, zoological gardens, and other speculationswhich had floated on the pecuniary tide, all suddenly collapsed, and there was an end to the career of unprincipled adventurers. It is satisfactory, however, to observe that the sound commerce of the country soon recovered the shock thus given; and in less than two years the pecuniary difficulties had passed away. Commerce had resumed its wonted activity, and flowed steadily in legitimate channels. The American banks resumed payment, and the three great American houses, which had involved themselves to such an enormous extent, were enabled to meet all their liabilities.
11.00 - 10.00 | JUN 10,2014
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