ONE:

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ONE:The South Sea Company had immediately on the passing of the Bill proposed a subscription of one million, and this was so eagerly seized on that, instead of one, two millions were subscribed. To stimulate this already too feverish spirit in the public, the Company adopted the most false and unjustifiable means. They had eight millions and a half to pay over to Government as a douceur for granting them the management of the Funds; and, therefore, to bring this in rapidly, they propagated the most lying rumours. It was industriously circulated that Lord Stanhope had received overtures at Paris to exchange Gibraltar and Port Mahon for invaluable gold lands in Peru! The South Sea trade was vaunted as a source of boundless wealth in itself. In August the stock had risen from the one hundred and thirty of the last winter to one thousand! Men sold houses and land to become shareholders; merchants of eminence neglected their affairs and crippled their resources to reap imaginary profits. The Company flattered the delusion to the utmost. They opened a third, and even a fourth subscription, larger than the former, and passed a resolution that from next Christmas their yearly dividend should not be less than fifty per cent.! In labouring to increase the public delusion they seem to have caught the contagion themselves, for they began to act, not like men who were blowing a bubble which they knew must speedily burst, but like persons who had mounted permanently into the very highest seat of prosperous power. They assumed the most arrogant and overbearing manner, even towards men of the highest station and influence. "We have made them kings," said a member of Parliament, "and they deal with everybody as such."

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ONE:Mr. Fyshe Palmer was not tried till the 12th of September. He was then brought before the Circuit Court of Justiciary at Perth, and charged with writing and publishing an "Address to the People," which had been issued by the Society of the Friends of Liberty, at Dundee. Palmer was an Englishman of good family, in Bedfordshire. He had taken his degree at Cambridge, and obtained a fellowship at Queen's College; but he had afterwards joined the Unitarians, and had resided and preached some time at Montrose and Dundee, and had delivered lectures on Unitarianism in Edinburgh and Forfar. It appeared that Palmer was not the author of the Address, but had only been asked to correct the proof of it, and that he had, whilst so doing, struck out some of the strongest passages. One Mealmaker, a weaver, acknowledged himself the author of the Address; but Palmer was a Unitarian, and this, to the bigoted Presbyterianism of his judges, was rank poison. His advocate pleaded that he was not quite sane, but neither did this avail; the jury brought in an instant and unanimous verdict of guilty, and the judges condemned him to be transported for seven years. This was a still more outrageous sentence than that of Muir, for Palmer had corresponded with no French or Reforming societies whatever; he had simply corrected a proof!Surprised, Larry did as he asked.

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