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THREE:On the death of Stanhope, Sir Robert Walpole was left without a rival, and he received his commission of First Lord of the Treasury on the 2nd of April, and from this period down to 1742 he continued to direct the government of Great Britain. His chief anxiety now was to restore the public credit. He drew up, as Chairman of the Committee of the Commons, a report of all that had been lost in the late excitements, and of the measures that had been adopted to remedy the costs incurred. Amongst these were the resolutions of the House respecting the seven and a half millions the directors of the South Sea Company had agreed to pay to Government; more than five had been remitted, and we may add that on the clamorous complaints of the Company the remainder was afterwards remitted too. The forfeited estates had been made to clear off a large amount of encumbrance, the credit of the Company's bonds had been maintained, and thirty-three per cent. of the capital paid to the proprietors. Such were the[49] measures adopted by the Commons, and these being stated in the report to the king, a Bill was brought in embodying them all. Many of the proprietors, however, were not satisfied. They were very willing to forget their own folly and greediness, and charge the blame on the Government. On the second reading of Walpole's Bill they thronged the lobby of the House of Commons. The next day the Bill was carried, and gradually produced quiet; but Walpole himself did not escape without severe animadversions. He was accused of having framed his measures in collusion with the Bank, and with a clear eye to his own interest; but he had been strenuously vindicated from the charge, and on the whole the vigour and boldness with which he encountered the storm and quelled it deserve the highest praise, and may well cover a certain amount of self-interest, from which few Ministers are free.Before Walpole thus threw off the mask of moderation��indeed, on the very day of his resignation��he 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. We love to be social,Catch Us On FORE:��When the hangar was first haunted, and we found chewing gum that the ghost had put there, as we thought,�� he told an interested trio, ��none of us could work out any answer to the puzzle.��I��m trying not to suspect anybody. Instead of doing that I try to believe everybody��s innocent and nothing is wrong. I��m going to let you do the suspecting.�� FORE:As they swung in a banked turn to circle over the Sound, the green disappeared and its place was taken, as it seemed, by red.When they went into this last, the ranch hands were already at a long oilcloth-covered table. The Kirbys sat at a smaller one, laid with linen, and the lank wife of one of the men served them all, with the help of a Mexican boy. FORE:Instead of Hamilton, the Duke of Shrewsbury was sent to Versailles, where Matthew Prior remained to lend his superior knowledge of French affairs and superior address to the negotiations. The weight of Tory vengeance now fell on the Duke of Marlborough, whom the ministers justly regarded as the most dangerous man amongst the Whigs by his abilities and the splendour of his renown. The Earl of Godolphin died in September of this year. He had always been a staunch friend of the Marlboroughs. His son, Lord Rialton, was married to Marlborough's eldest daughter, and during Godolphin's later years he was nearly a constant resident with the Marlboroughs, and died at their lodge in Windsor Park. Godolphin was one of the best of the Whigs; of a clear, strong judgment, and calm temper. He had rendered the most essential services during the conflict against France, by ably and faithfully conducting affairs at home, whilst Marlborough was winning his victories abroad; and that great general knew that he should be supported against all his enemies and detractors so long as Godolphin remained in power. The highest eulogium on Godolphin's honesty lies in the fact that he died poor. But at Godolphin's death Marlborough stood a more exposed object to the malice of his foes. They did not hesitate to assert that he had had a deep concern in the plot for Hamilton's death. He was also harassed by debt. He therefore resolved to retire to the Continent, where he continued to keep up a correspondence with the Elector of Hanover and the Pretender to the last, so that whichever came in he might stand well with him. He wrote to St. Germains, showing that though he had appeared to fight against the King of England, as he styled the Pretender, it was not so. He had fought to reduce the power of France, which would be as much to the advantage of the king when he came to the throne as it was to the present queen. He gave his advice to the Pretender for his security and success. "The French king and his ministers," he says, "will sacrifice everything to their own views of peace. The Earl of Oxford and his associates in office will[10] probably insist upon the king's retiring to Italy; but he must never consent. He must neither yield to the French king, nor to the fallacious insinuations of the British Ministry, on a point which must inevitably ruin his cause. To retire to Italy, by the living God! is the same thing as to stab himself to the heart. Let him take refuge in Germany, or in some country on this side of the Alps. He wants no security for his person; no one will touch a hair of his head. I perceive such a change in his favour, that I think it is impossible but that he must succeed. But when he shall succeed, let there be no retrospect towards the past. All that has been done since the Revolution must be confirmed." He added that Queen Anne had no real aversion from her brother's interests, but that she must not be alarmed, as she was very timid.Their quarry was fleet, clever and terrorized: she led them always toward the water, down hill.