THREE:But the English measures detained the Russian fleet in the Baltic with Greig at its head, and Russia was saved from her due chastisement. The King of Sweden, indeed, landed an army of thirty-five thousand men in Finland; and his brother, the Duke of Sudermania, appeared in the[352] Baltic at the head of a strong fleet. Nothing could have prevented Gustavus from marching directly on the Russian capital, and St. Petersburg was consequently thrown into the wildest alarm. But Gustavus was only bent on recovering the provinces which Russia had reft from Sweden. He advanced successfully for some time, the Russians everywhere flying before him; but Russian gold and Russian intrigue soon altered all this. Catherine ordered her fleet, which was in the Gulf of Finland, with Greig at its head, to bear down on the Swedish fleet, and, at the same time, emissaries were despatched amongst the officers of Gustavus's army with plenty of gold, and letters were sent to the States of Sweden, calling on them to disavow the proceedings of the king. Before Gustavus had left Sweden with his army, her Minister, passing over the king himself, had made similar communications to Gustavus's proud and disaffected nobles, and Gustavus had ordered him out of the country. The Russian and Swedish fleets now came to an engagement in the straits of Kalkbaden. The battle was desperate; the Swedes fought with their wonted valour; and the Russians, under the management of Greig and the British officers, showed that they were apt scholars. The two fleets separated, after doing each other great mischief, each claiming the victory. Catherine immediately rewarded Greig with a letter of thanks, written by her own hand, and with the more substantial present of a large sum of money, and a good estate in Livonia. Moreover, the partial success of Russia by sea had the effect of encouraging the corrupted officers of Gustavus to refuse to proceed farther in Finland.
FORE:Others of the troops were ordered in, and among them was Landor's. It had gone out for a twenty days' scout, and had been in the field two months. It was ragged and all but barefoot, and its pack-train was in a pitiable way. Weeks of storm in the Mogollons and days of quivering heat on the plains had brought its clothing and blankets to the last stages.
THREE:The spring of 1720 was a period of remarkable national prosperity. But "the grand money schemes projected of late," which appeared to the Jacobite Atterbury and others calculated to cement the royal peace and strengthen the foundation[46] of the Government and nation, were destined to produce a very different effect. For the South Sea Bubble was about to burst. In 1711, Harley, being at his wits' end to maintain the public credit, established a fund to provide for the National Debt, which amounted to ten millions of pounds. To defray the interest he made permanent the duties on wine, vinegar, and tobacco, etc. To induce the purchase of the Government stock, he gave to the shareholders the exclusive privilege of trading to the Spanish settlements in South America, and procured them an Act of Parliament and a royal charter, under the name of the South Sea Company. The idea, hollow and groundless as it was, seized on the imagination of the most staid and experienced traders. All the dreams of boundless gold which haunted the heads of the followers of Drake and Raleigh were revived. The mania spread through the nation, and was industriously encouraged by the partisans of Harley. But this stupendous dream of wealth was based on the promises of Ministers, who at the Peace of Utrecht were to secure from the Government of Spain this right to trade to its colonies. The right was never granted by that haughty and jealous Power, further than for the settlement of some few factories, and the sending of one small ship annually of less than five hundred tons. This, and the Assiento, or privilege of supplying those colonies with African slaves, were the sole advantages obtained, and these were soon disturbed by the war with Spain, which broke out under Alberoni. The South Sea Company, however, from its general resources, remained a flourishing corporation, and was deemed the rival of the Bank of England.
FORE:
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THREE:Despite these representations, however, the resolutions were confirmed by the same majority as before. Other debates succeeded on the second reading of the Bill, but the majority on these gradually sank from sixty to sixteen. As the storm grew instead of abated, the queen demanded of Lord Scarborough what he thought of it, and he replied, "The Bill must be relinquished. I will answer for my regiment against the Pretender, but not against the opposers of the Excise." "Then," said the queen, "we must drop it." Sir Robert summoned his majority, and requested their opinion, and they proposed to go on, observing that all taxes were obnoxious, and that it would not do to be daunted by a mob. But Walpole felt that he must yield. He declared that he was not disposed to enforce it at the point of the bayonet, and on the 11th of April, on the order of the day for the second reading, he moved that the measure should be postponed for two months. Thus the whole affair dropped. The usually triumphant Minister found himself defeated by popular opinion. The Opposition were hardly satisfied to allow this obnoxious Bill thus to slip quietly away; but out-of-doors there was rejoicing enough to satisfy them.
FORE:[62]
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THREE:She wished to hear as much as he had confided.
FORE:Great snakes! cried Sandy, then lowering his voice. How did that get there?
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