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Before Walpole thus threw off the mask of moderationindeed, on the very day of his resignationhe introduced a well-matured scheme for the reduction of the National Debt, which was, in fact, the earliest germ of the National Sinking Fund. Though the ordinary rate of interest had been reduced, by the statute of the 12th of Queen Anne, to five per cent., the interest on the funded debt remained upwards of seven. The Long and Short Annuities were unredeemable, and could not be touched without the consent of the proprietors; but Walpole proposed to borrow six hundred thousand pounds at only four per cent., and to apply all savings to the discharge of the debts contracted before December, 1716. He proposed, also, to make some arrangement with the Bank and the South Sea Company, by which the Bank should lend two millions and a half, and the Company two millions, at five per cent., to pay off such holders of redeemable debts as should refuse to accept an equal reduction.

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  • FORE:ROTTEN ROW IN 1830. (See p. 442.)
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FORE:The new spring in poetry broke forth as brilliantly in this reign as that in prose. In the earlier portion of it, indeed, this was not so visible. The school of Pope seemed still to retain its influence. This school had produced a host of imitators, but little real genius since Pope's time. Almost the only exception to this mediocrity was Collins, whose odes were full of fire and genius. He died just before this period, and Gray,[182] Shenstone, and Goldsmith opened it with many of the exterior characteristics of that school. But, in truth, notwithstanding the mere fashion of their compositions, there were in them unmistakable evidences of new life. Shenstone was the least vigorous and original of the three, but his "Schoolmistress" possessed a natural charm that still gains it admirers. He belongs, however, rather to the past period than this, for he died but three years after the accession of George III., and had ceased to write some time before. Gray's "Elegy in a Country Churchyard" showed that he had deep feeling and a nice observation of nature; and his "Long Story" that he possessed real humoura quality abounding in his prose, but, except in this piece, little visible in his poetry. His odes are extremely vigorous, but somewhat formal. His "Bard," his "Ode on Eton College," and his "Fatal Sisters," are all full of beauty, but somewhat stilted. In the "Fatal Sisters" he introduced a subject from the "Scandinavian Edda" to the English reader, but in a most un-Scandinavian dress.
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The Great Seal had remained in commission ever since the resignation of Sir Robert Peel, and it was supposed to be reserved for Lord Brougham when the king's objections to his reappointment should be overcome. Such, however was not the case, as Lord Melbourne was determined to have nothing more to do with him. On the 1st of January, 1836, Sir Charles Pepys, Master of the Rolls, was appointed to the office of Lord Chancellor, and created a peer by the title of Lord Cottenham. At the same time Mr. Henry Bickersteth, appointed Master of the Rolls, was called to the Upper House by the title of Baron Langdale. Lord Brougham, thus passed over, was too ill to make any protest, but before long he assumed an attitude of active opposition to the Ministry. Parliament was opened by the king in person on the 4th of February, 1836, in a Speech remarkable for the number and variety of its topics. It gave the usual assurances of the maintenance of friendly relations with all Foreign Powersexpressed regret at the continuance of the civil contest in the northern provinces of Spain, and hope of a successful result to our mediation between France and the United States. Referring to domestic affairs, the state of commerce and manufactures was declared to be highly satisfactory; but difficulties continued to press on agriculture. Measures were to be submitted for increasing the efficiency of the Church, for the commutation of tithes, for alleviating the grievances of Dissenters; and improvements in the administration of justice were recommended, especially in the Court of Chancery. The special attention of Parliament was directed to the condition of the poor of Ireland, and it was suggested that as experience had proved the salutary effect of the Poor Law Amendment Act in England, a similar measure might be found useful in alleviating the social condition of Ireland. Allusion was also made to the reform of Irish corporations, and the adjustment of the Irish Tithe question, which we have already disposed of in preceding pages. Chiefly with reference to these questions, amendments to the Address were moved in both Houses; in the Upper by the Duke of Wellington, whose amendment was carried without a division; in the Commons Ministers won by 284 against 243.The next step in the increase of means of traffic was the construction of canals. The rivers had previously been rendered more navigable by removing obstructions, deepening channels, and making good towing-paths along their banks; but now it was projected to make artificial rivers. In this scheme, Richard Brindley, under the patronage of the Duke of Bridgewater, was the great engineer; and his intrepid genius dictated to him to carry these canals over hills by locks, over rivers by aqueducts, and through the heart of hills by tunnels. These enterprises at that moment appeared, to the ordinary run of civil engineers, as rash experiments, which were sure to prove abortive. As all new ideas are, these ideas, now so commonplace, were ridiculed by the wise ones as little short of madness. Mr. Brindley's first great work was the formation of the Duke of Bridgewater's canal, from Worsley to Manchester. In this he at once proved all his plans of locks, tunnels, and aqueducts. He conducted his canal by an aqueduct over the river Irwell, at an elevation of thirty-nine feet; and those learned engineers who had laughed at the scheme as "a castle in the air," might now see boats passing over the river at that height with the greatest ease, while other boats were being drawn up the Irwell against the stream and under the aqueduct with five times the labour. At Worsley the canal was conducted into the very heart of the coal-mine by a tunnel, with branches, which conducted the boats up to the different parts of the[191] mine, so that the coal could be loaded on the spot where it was dug. The immediate effect of this canal was to reduce coals in Manchester to half the former price; and the canal being extended so as to connect it with the Mersey, at Runcorn, it reduced the freight of goods from Manchester to Liverpool to the same extent, from twelve shillings to six shillings per ton, the land carriage having been forty shillings. Brindley was next engaged to execute the Grand Trunk Canal, which united the Trent and Mersey, carrying it through Birmingham, Chesterfield, and to Nottingham. This was commenced in 1766, and exhibited further examples of his undaunted skill, and, as he had been laughed at by the pedants of the profession, he now in his turn laughed at their puny mediocrity. One of his tunnels, at Harecastle Hill, in Staffordshire, was two thousand eight hundred and eighty yards long, twelve feet wide, nine high, and in some parts seventy yards below the surface of the ground. This tunnel, after half a century's use, was found too confined for the traffic, and a new one, much wider, was made by Telford. By this time the art of tunnelling had made great progress, and whilst Brindley required eleven years to complete his tunnel, Telford made his much larger one in three. Many causes intervened to check for a time the progress of canals, so that from 1760 to 1774 only nineteen Acts were passed for them; but in the two years of 1793 and 1794 no fewer than thirty-six new Bills were introduced to Parliament, with others for extending and amending rivers, making altogether forty-seven Acts, the expenditure on the canals of these two years' projection amounting to five million three hundred thousand pounds. The work now went on rapidly, and investments in canal shares exhibited at that day, in miniature, the great fever of railway speculation at a later period. Lines of canals were made to connect the Thames, the Tweed, the Severn, and the Mersey; so that the great ports of London, Liverpool, Hull, and Bristol were connected by them, and put into communication with nearly all the great inland manufacturing towns. In 1779 a ship-canal was completed from the Forth to the Clydea work proposed as early as the reign of Charles II. This canal, thirty-five miles in length, had thirty-nine locks, which carried the canal to a height of one hundred and fifty-six feet above the sea, and it crossed the river Kelvin by an aqueduct eighty-three feet from the bed of the river to the top of the masonry. A few years later a much larger ship-canal united Gloucester to the Severn, and wonderfully increased the trade and growth of that city.The war was scarcely begun when it was discovered that we had proclaimed hostilities much before we were prepared to carry them out. Our ships were badly manned, and therefore slow to put to sea, and the more alert Spaniards were busy picking up our merchant vessels. Not they only, but the French, Dutch, and other nations who had hoisted Spanish colours, were making wide devastation amongst our trading vessels. Walpole was compelled to issue letters of marque and licences to swarms of privateers, which issued forth to make reprisals. The Lords of the Admiralty, on the 1st of February, 1740, had ordered an embargo on all shipping except coasters, so as at once to keep them out of reach of the enemy, and to induce seamen to enter the navy; but on the 28th of March a petition from merchants and owners of shipping was presented, complaining of the hardships and the destruction of trade by it. The Lords of the Admiralty contended that such had been the complaints of injuries done at sea to our traders, that they had been compelled to impose the embargo in the absence of sufficient hands for men-of-war. They now took the embargo off foreign ships, and gave notice to English owners that they would take it off altogether, on condition that the owners and masters of vessels would enter into an engagement to furnish a certain number of men to the navy in proportion to the number of hands in each trader. This also was denounced as a most oppressive measure, and the Opposition represented it as intended to make the mercantile community sick of the war. Driven, however, to extremities, Ministers would not listen to these arguments; a motion was carried sanctioning this plan, and then the merchants came into it.
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