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It was at the close of 1719, when George I. returned from Hanover, that this Company proposed to Ministers to consolidate all the funds into one. It was strange that both Ministers and merchants could be deluded by the hope of enriching themselves by a share of the trade with the Spanish South American provinces, when Spain herself, in full enjoyment of them, was sunk into indigence and weakness, and presented the most determined resistance to the unfettered intercourse of any other nation with them. Yet Sir John Blunt, a leading director of the South Sea Company, persuaded the Ministers that by granting the Company power to deal with the public funds, and especially to buy up the unredeemable annuities which had been granted in the two preceding reigns, chiefly on terms of ninety-nine years, and which now amounted to about eight hundred thousand pounds a year, they could, in twenty-six years, pay off the entire National Debt. But, to enable them to do this, they must be empowered to reduce all the different public securities to one aggregate fund in their hands, to convert both redeemable and unredeemable debts into stock by such arrangements as they could make with the holders, and to have certain commercial privileges vested in them. Ministers accepted the proposals with great alacrity. Aislabie introduced the scheme to Parliament in the month of February, 1720, declaring that, if it was accepted by the House, the prosperity of the nation would be amazingly enhanced, and all its debts liquidated in a very few years. Craggs seconded the proposal in most sanguine terms, expressing his conviction that every member of the House must be ready to adopt so advantageous an offer. Ministers had already closed with the proposals of the Company, and they were themselves greatly disconcerted by the suggestion of Mr. Thomas Brodrick, the member for Stockbridge, who expressed his entire accordance with Ministers, but thought that the nation should endeavour to obtain the best terms for itself by opening the competition to every other company or association of men as well as that in question. Ministers were confounded by this proposal, and Aislabie endeavoured to get out of it by declaring that to do this would be like putting the nation up to auction, and that such things should be done with spirit. But Jekyll interposed, saying it was this spirit which had ruined the nation, and it was now requisite to consider seriously what was best for the public. A violent debate ensued, in which Walpole eloquently recommended open competition, and was sharply replied to by Lechmere. The question was carried in favour of competition; and then the Bank of England, which before had coolly declined to enter into the proposals, suddenly appeared in a new temper, and made liberal offers for the privilege of thus farming the public debts. But the South Sea Company was not to be outdone; it offered seven millions and a half, and the Bank gave way in despair.On Newcastle's resignation Bute placed himself at the head of the Treasury, and named Grenville Secretary of Statea fatal nomination, for Grenville lost America. Lord Barrington, though an adherent of Newcastle, became Treasurer of the Navy, and Sir Francis Dashwood Chancellor of the Exchequer. Bute, who, like all weak favourites, had not the sense to perceive that it was necessary to be moderate to acquire permanent power, immediately obtained a vacant Garter, and thus parading the royal favours, augmented the rapidly growing unpopularity which his want of sagacity and honourable principle was fast creating. He was beset by legions of libels, which fully exposed his incapacity, and as freely dealt with the connection between himself and the mother of the king.
ONE:

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ONE:As for the queen, she was a far superior person. She had been well brought up on the second marriage of her mother after the death of her father, by the Queen of Prussia, Sophia Charlotte, the sister of George I. She had been handsome till she grew corpulent and suffered from the smallpox, and still she was much admired for her impressive countenance, her fine voice, penetrating eye, and the grace and sweetness of her manner. She was still more admired for the striking contrast which she presented to her husband in her love of literature and literary men, extending her interest and inquiries into philosophy, theology, and metaphysics. Those who are disposed to ridicule her pretence to such knowledge admit that she was equally distinguished by prudence and[58] good sense. She combined in her manners royal dignity and unassuming grace, and was more popular with the nation than any one of the Hanover family had ever yet been. She delighted to engage theologians in discussing knotty points of doctrine, and in perplexing them with questions on the various articles of faith in different churches, and corresponded with them on these subjects through her bedchamber woman, Mrs. Clayton, afterwards Lady Sundon. But the best proofs of Queen Caroline's superiority were shown in her pure moral character, which was free from the slightest stain, and in her quick discernment and substantial promotion of the most able men in the Church.

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ONE:[See larger version]Howe, who, with seven thousand soldiers and more than one thousand sailors, did not feel himself safe at New York till the new reinforcements should arrive, sailed away to Halifaxa circumstance which gave the appearance of a retreat to his change of locality, and had thus a bad effect in more ways than one. Washington, who was informed of his final destination, immediately marched with the greater part of his army to New York, and thence went himself to Philadelphia to concert future measures with the Congress. This body, in commemoration of the surrender of Boston, ordered a medal to be struck in honour of it, and that it should bear the effigy of Washington, with the title of the Asserter of the Liberties of his Country. The medal was cast in France.

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TWO:Thus shamefully deserted on both hands, Cumberland still led forward his British and Hanoverians against the main body of the French army. The ruggedness of the ground in the[91] narrow valley between the wood of Barr and Fontenoy compelled them to leave the cavalry behind; but the infantry pushed on, dragging with them several pieces of artillery. Cumberland had the advantage of the advice and spirit of his military tutor, General Ligonier, and, in face of a most murderous fire, the young commander hastened on. The batteries right and left mowed them down, and before this comparative handful of men stood massed the vast French army, in a position pronounced by the French impregnable. The dense column of the English, compressed between the wood of Barr and Fontenoy, soon drove the French from their positions, and, still pushing on towards the rear of Fontenoy, threatened to cut off the bridge of Calonne, and with it the enemy's retreat across the river. Both French and English conceived that the battle was decided for the Allies. Marshal K?nigsegg congratulated Cumberland on their victory, and, on the other hand, Saxe warned Louis XV. that it was necessary to retreat. Louis, however, is said to have protested against giving way, and both French and English soon became aware that the Dutch had deserted their post, and that the right wing of the French army remained wholly unengaged. The British and Hanoverian conquerors on their right, when they mounted the French positions, looked out for their left wing, the Dutch, and, to their dismay, beheld them hanging with cowardly inactivity in the distance. The brave Marshal Saxe, at the same moment making the same discovery, called forward the Household Troops, which had been posted to receive the Dutch, and precipitated them on the flank of the British. Foremost in this charge was the Irish Brigade, in the pay of France, who fought like furies against their countrymen. Overwhelmed by numbers, and numbers perfectly fresh, and mowed down by additional artillery which the default of the Dutch had set at liberty, and unsupported by their own cavalry from the confined and rugged nature of the ground, the brave British and Hanoverians were compelled to give way. But they did it in such order and steadiness, disputing every inch of the ground, as excited the admiration of their opponents. The Duke of Cumberland was the last in the retreat, still regardless of his own danger, calling on his men to remember Blenheim and Ramillies; and seeing one of his officers turning to flee, he threatened to shoot him. Thus they gave way slowly, and still fighting, till they reached their horse, which then made a front to cover them, till they were out of the mle; their dastardly allies, the Dutch, then joined them, and they marched away in a body to Ath. Tournay, for which the battle was fought, might have detained the French a long time; but here, again, Dutch treachery did its work. Hertsall, the chief engineer in the Dutch service, betrayed the place to the French, fled to their camp, and then assisted them by his advice. Tournay surrendered in a fortnight, and the citadel the week after. Ghent, Bruges, Oudenarde, and Dendermond fell in rapid succession. Whilst the Allies were covering Antwerp and Brussels, the French attacked and took Ostend, again by the treachery of the governor, who refused to inundate the country.The production of copper during this period was so plentiful, that, though the great mines in Anglesea were not yet discovered, full liberty was given to export it, except to France. From 1736 to 1745 the mines of Cornwall alone produced about 700 tons annually, and the yearly amount was constantly increasing. A manufactory of brassthe secret of which mixture was introduced from Germany, in 1649was established in Birmingham, in 1748; and, at the end of this period, the number of persons employed in making articles of copper and brass was, probably, not less than 50,000. The manufacture of tinned iron commenced in Wales about 1730, and in 1740 further improvements were made in this process. Similar improvements were making in the refinement of metals, and in the manufacture of silver plate, called Sheffield plate. English watches acquired great reputation, but afterwards fell into considerable disrepute from the employment of inferior foreign works. Printing types, which we had before imported from Holland, were first made in England in the reign of Queen Anne, by Caslon, an engraver of gun-locks and barrels. In 1725 William Ged, a Scotsman, discovered the art of stereotyping, but did not introduce it without strong opposition from the working printers. Great strides were made in the paper manufacture. In 1690 we first made white paper, and in 1713 it is calculated that 300,000 reams of all kinds of paper were made in England. An excise duty was first laid on paper in 1711. Our best china and earthenware were still imported, and, both in style and quality, our own pottery was very inferior, for Wedgwood had not yet introduced his wonderful improvements. Defoe introduced pantiles at his manufactory at Tilbury, before which time we imported them from Holland. The war with France compelled us to encourage the manufacture of glass; in 1697 the excise duty, imposed three years before, was repealed, but in 1746 duties were imposed on the articles used in its manufacture, and additional duties on its exportation. The manufacture of crown glass was not introduced till after this period.
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THREE:

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THREE:The rapid growth of the commerce of the American colonies excited an intense jealousy[166] in our West Indian Islands, which claimed a monopoly of supply of sugar, rum, molasses, and other articles to all the British possessions. The Americans trading with the French, Dutch, Spaniards, etc., took these articles in return; but the West Indian proprietors prevailed upon the British Government, in 1733, to impose a duty on the import of any produce of foreign plantations into the American colonies, besides granting a drawback on the re-exportation of West Indian sugar from Great Britain. This was one of the first pieces of legislation of which the American colonies had a just right to complain. At this period our West Indies produced about 85,000 hogsheads of sugar, or 1,200,000 cwts. About three hundred sail were employed in the trade with these islands, and some 4,500 sailors; the value of British manufactures exported thither being nearly 240,000 annually, but our imports from Jamaica alone averaged at that time 539,492. Besides rum, sugar, and molasses, we received from the West Indies cotton, indigo, ginger, pimento, cocoa, coffee, etc.

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THREE:[See larger version]

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THREE:Vigilant Stair had discovered the ships that had been prepared at Havre, by the connivance and aid of the late king, and he insisted that they should be stopped. Admiral Byng also appeared off Havre with a squadron, and Lord Stair demanded that the ships should be given up to him. With this the Regent declined to comply, but he ordered them to be unloaded, and the arms to be deposited in the royal arsenal. One ship, however, escaped the search, containing, according to Bolingbroke, one thousand three hundred arms, and four thousand pounds of powder, which he proposed to send to Lord Mar, in Scotland.

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ONE:For some time a monster petition to the House of Commons was being signed by the Chartists in all the towns throughout the United Kingdom, and the signatures were said to have amounted to five millions. It was to be presented on the 10th of April. Two hundred thousand men were to assemble on Kennington Common, and thence they were to march to Westminster, to back up their petition. Possibly they might force their way into the House of Commons, overpower the members, and put Mr. Feargus O'Connor in the Speaker's chair. Why might they not in this way effect a great revolution, like that which the working classes of Paris had just accomplished? If the French National Guard, and even the troops of the line, fraternised with the people, why should not the British army do likewise? Such anticipations would not have been unreasonable if Parliamentary and Municipal Reform had been up to this time resisted; if William IV. had been still upon the throne; if a Guizot had been Prime Minister, and a York or a Cumberland at the Horse Guards. The Chartists, when they laid their revolutionary plans, must have forgotten the loyalty of the English people, and the popularity of the young Queen. They could not have reflected that the Duke of Wellington had the command of the army; that he had a horror of riots; and that there was no man who knew better how to deal with them. Besides, every one in power must have profited by the unpreparedness of the French authorities, and the fatal consequences of leaving the army without orders and guidance. All who were charged with the preservation of the peace in England were fully awake to the danger, and early on the alert to meet the emergency. On the 6th of April a notice was issued by the Police Commissioners, warning the Chartists that the assemblage of large numbers of people, accompanied with circumstances tending to excite terror and alarm in the minds of her Majesty's subjects, was criminal; and that, according to an Act of the 13th of Charles II., no more than ten persons could approach the Sovereign, or either House of Parliament, on pretence of delivering petitions, complaints, or remonstrances; and that whereas information had been received that persons had been advised to procure arms and weapons to[556] carry in procession from Kennington Common to Westminster, and whereas such proposed procession was calculated to excite terror in the minds of her Majesty's subjects, all persons were strictly enjoined not to attend the meeting in question, or take part in the procession; and all well-disposed persons were called upon and required to aid in the enforcement of the law, and the suppression of any attempt at disturbance. [Secret.] "Colonial Office, November 2, 1845.

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THREE:Parliament was prorogued on the 18th of April, and the king soon after set out for his German dominions, taking Stanhope along with him, and his mistress, the Duchess of Kendal. In appointing the Regency to administer affairs in the king's absence, the Prince of Wales was entirely passed over, to his great indignation; nor were he and the Princess allowed to hold levees, that duty being assigned to the young princesses, to the great scandal of the public, and further exposure of the discord raging in the Royal family. Even during the session the ministers had brought in a Bill to "settle and limit the Peerage in such a manner that the number of English peers should not be enlarged beyond six of the present number (178), which, upon failure of male issue, might be supplied by new creations; that, instead of the sixteen elective peers of Scotland, twenty-five should be made hereditary on the part of that kingdom; and that this number, upon failure of heirs male, should be supplied from the other members of the Scottish Peerage." Both the king and ministers flattered themselves that they should carry this Bill, and thus fetter the Prince of Wales when he came to the throne. The king was desirous to do this out of sheer jealousy and hatred of his own son, and the ministers, Sunderland in particular, out of dread of his vengeance in that case; for, if he created a dozen peers at a time, as Anne had done, he could easily swamp the Whigs and put the present ministers in peril of impeachment. But though the Whigs had been clamorous against the act of Anne, some of them now, Cowper and Townshend at their head, as vehemently denounced this measure as a gross infringement of the royal prerogative. The debate became very bitter, and many friendships were broken up by it, amongst others that of Addison and Steele, who took different sides; but the Bill was finally dropped, through the vigorous opposition offered to it by Walpole.
THREE:[See larger version]

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THREE:But this was not the only chastisement which the Americans had received. On the 27th Captain Gordon, of the Seahorse, accompanied by other vessels, attacked Alexandria, situated lower on the Potomac. They found no resistance from Fort Washington, built to protect the river at that point; and the authorities of Alexandria delivered up all public property, on condition that the private property should be spared. The British carried off the naval and ordnance stores, as well as twenty-one vessels, of different freights. On the 12th of September General Ross made an[111] assault on the city of Baltimore. This was a strongly fortified place, and the Americans can always fight well under cover; and, on that account, the attempt should have been made with due military approaches. But General Ross had so readily dispersed the army that defended Washington, and another which had been drawn up in front of Baltimore, that he made a rash endeavour to carry the place at once, but was killed in the attempt, as well as a considerable number of his men. He had inflicted a loss of six or eight hundred men, in killed and wounded, on the Americans; but this was little satisfaction for his own loss.[521]

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THREE:WILLIAM PITT. (After the Portrait by John Hoppner, R.A.)

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The first debate arose on the subject of drunkenness and gin. Drunkenness had of late years appeared to grow rapidly, and to assume more horrible features from the increasing use of gin. Sir Joseph Jekyll proposed in committee that a heavy tax should be laid on this pernicious liquor, which should put it out of the reach of the working classesnamely, a duty of twenty shillings per gallon on all sold retail, and fifty pounds yearly for the licence to every retailer. This benevolent man had not arrived at the truth, that to tax a crime is only to stop up one vent of it, and to occasion its bursting out in half a dozen other places. Sir Robert Walpole saw this clearly, and though he would not oppose the Bill for this purpose, he predicted that Parliament would soon be called upon to modify its provisions. The small duties heretofore levied on this article had brought in about seventy thousand pounds annually, and, as the Excise had been made over to the Crown, this sum went to the Civil List. Walpole demanded, therefore, that whatever deficiency of this sum should be produced by the new regulations should be made up to the Civil List. The whole measure excited great clamour out of doors. It was regarded as an invidious attempt to abridge the comforts of the people, whilst those of the wealthy remained untouched. The clause proposed by Walpole to protect the revenue was assailed with much fury both in and out of the House. It was said that the Minister was quite indifferent to the morals of the people on the one hand, or to their enjoyment on the other, so that the revenue did not suffer.During this campaign Catherine had made great progress in her road to Constantinople. Suvaroff had reduced Ismail, a remarkably strong place, which was the key of the lower Danube and the only obstruction of any importance to the Russian advance to the Balkan mountains and to Constantinople. This city had been taken by storm, after a most desperate defence, on the 25th of December, and when, with a little more resistance, the Russians would have been compelled to quit the field by the severity of the season. The carnage on this occasion was of the most frightful kind. The Russians themselves lost nearly ten thousand men, and the Turks thirty thousand peoplemen, women, and children, who were indiscriminately butchered by the orders of Suvaroff, who said to his soldiers, "Brothers, no quarter to-day, for bread is scarce." Every horror possible[375] in war, especially between barbarians, was perpetrated by the Russian hordes in Ismail, who were guilty of the most diabolical atrocities, such as burning whole streets, mosques, and serais. Suvaroff sat down and wrote in Russian rhyme the words quoted by Lord Byron in "Don Juan," "Glory to God and the Empress, Ismail is ours." When Sir Charles Whitworth, the British ambassador, next saw Catherine, she said, in allusion to some strong remonstrances from Britain and Prussia, which took care not to go beyond remonstrances, which were cheap"Since the king, your master, wishes to drive me out of Petersburg I hope he will permit me to retire to Constantinople." The Czarina Catherine still continued her war on the Ottoman empire. The Turks gained several advantages over the Russians on the shores of the Black Sea, and near the Danube, but they were severely repulsed in an attempt to drive the Russians from their conquests between the Black and Caspian Seas, and suffered a terrible slaughter on the banks of the River Kuban. Then Britain, Prussia, Holland, and Austria, from the Congress of Reichenbach, announced to Catherine that they were resolved not to permit further encroachments on Turkey, but Catherine paid not the slightest attention to their remonstrances.Reports that the king was rapidly recovering now began to fly about Court, daily gaining strength. The Whigs, impatient to seize on office, were in a state of strange excitement; but to go in with the prospect of being immediately dismissed by the king, did not accord with the dignity of the leaders. On the other hand, there were so many good things to be given awayone or two bishoprics, the office of Chief Justice in Eyre, sundry commissions of Major-General, besides expectations of promotions to the rank of Field-Marshalthat the dependents of the party grew impatient. Neither the Whigs nor Pitt knew well what to do. The Lords did not commit the Bill till the 17th, when they made two important additions to it, namely, to place all the palaces, parks, houses, and gardens of the king under the control of the queen, and to give her the care of all the royal children under the age of twenty-one. But, at that very crisis, the king was pronounced convalescent. On the 19th, Lord Thurlow announced this, on the certificate of the physicians; and it was declared by him that their lordships could not, in these circumstances, proceed with the Bill, but had better adjourn till Tuesday next. The Duke of York observed that he should most gladly have corroborated the statement of the Lord Chancellor, but could not, having called the day before at Kew, to desire that he might see his father, but had not been permitted. The House, however, adjourned, and on Tuesday, the 24th, Thurlow informed it that he had seen his Majesty, had found him perfectly recovered, and therefore he moved another adjournment to the Monday following, which was agreed to.
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