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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.The king, undeterred, descended into the court, and passing along the ranks, addressed them from time to time, telling them he relied on their attachment, and that in defending him they defended their wives and children. He then proceeded through the vestibule, intending to go to the garden, when he was assailed by fierce cries from some of the soldiers: "Down with the veto!" "Down with the traitor!" "Vive la nation!" Madame Campan, who was at a window looking into the garden, saw some of the gunners go up to the king, and thrust their fists in his face, insulting him in the most brutal language. He was obliged to pass along the terrace of the Feuillants, which was crowded with people, separated from the furious multitude merely by a tricolour line, but he went on in spite of all sorts of menaces and abuse. He saw the battalions file off before his face, and traverse the garden with the intention of joining the assailants in the Place du Carrousel, whilst the gensdarmes at the colonnade of the Louvre and other places did the same. This completely extinguished all hope in the unhappy king. The Viscomte Du Bouchage, seeing the situation of Louis from the palace, descended in haste with[403] another nobleman, to bring him in before some fatality happened to him. He complied, and returned with them. When the gunners thrust their fists in his face, Madame Campan says Louis turned as pale as death; yet he had shown no want of courage, had it been of the right sort. He had, indeed, refused to wear a kind of defensive corset which the queen had had made for him, saying, on the day of battle it was his duty to be uncovered, like the meanest of his servants. When the royal family came in again, Madame Campan says, "The queen told me all was lost; that the king had shown no energy, and that this sort of review had done more harm than good." The royal family, amidst insults and reproaches, walked on fast to the Assembly, and placed themselves under its protection. Vergniaud, the president, assured them of safety.

THREE:CHAPTER XVI. THE REIGN OF GEORGE III. (continued).

THREE:Wolfe raised batteries at Point Levi and on the island, and bombarded the town, but he could not draw the wary Montcalm from his strong position. In his front lay the river and some unapproachable sandbanks, behind and around him rocks and dense woods inaccessible. Once only he made a rush across the river, and endeavoured, with a detachment of one thousand six hundred men, to gain the batteries on Point Levi; but his troops soon saw the attempt to be hopeless, and retired. No measures were neglected by Wolfe, on his part, to draw Montcalm from his position. He marched along the banks of the Montmorency opposite to him, and made feints as if he would cross it somewhere above him, but to no purpose��Montcalm knew his advantage. Wolfe wrote home, that if Montcalm had but shut himself up in Quebec, he could have taken the town very easily, but he could not readily force him from his admirable position. Growing at length impatient, he determined to attack him where he was, and he dispatched Admiral Holmes up the river with a number of transports, as though he contemplated something in that quarter. He then landed, on the 31st of July, a body of troops near the mouth of the Montmorency, which there falls three hundred feet into the St. Lawrence. He had discovered a ford at some distance up the river, and dispatched Brigadier Townshend to cross there and attack Montcalm in flank, whilst he himself, by means of the ships and their boats, gained the beach and attacked in front. The Centurion man-of-war was placed to engage a battery which swept the place of landing, and then the troops were conveyed in boats, which drew little water, towards the shore. Some of these, however, got entangled amongst rocks, and created a delay in getting them off. By this time the French were hurrying down towards the landing-place with their artillery, and began to fire murderously from the banks above upon them. Wolfe, seeing that Townshend would cross the ford before they were ready to co-operate, sent an officer to recall him. At this time, the Grenadiers having reached the beach, rushed forward upon the entrenchments before the rest of the troops could be got out of the boats to support them. They were met by such a destructive fire that they were compelled to fall back with much slaughter. By this time night was setting in, attended by a storm, the roaring of which, mingling with the roar of the mighty St. Lawrence as the tide fell, seemed to warn them to recover their camp. The word was given to re-cross the river, and they made good their retreat without the French attempting to pursue them, though the Indians lurked in the rear to scalp such of the dead and such of the wounded as could not be brought off.

THREE:In April the French made an attempt to recover Quebec. Brigadier-General Murray had been left in command of the troops, six thousand in number, and the fleet had returned to England. The Marquis de Vaudreuil, now the French governor at Montreal, formed a plan of dropping down the St. Lawrence the moment the ice broke up, and before the mouth of the river was clear for ships to ascend from England. He therefore held in readiness five thousand regular troops, and as many militia, and the moment the ice broke in April, though the ground was still covered with snow, he embarked them in ships and boats under the command of Chevalier de Levis, an officer of reputation. On the 28th of that month they were within sight[139] of Quebec. They had landed higher up than where Wolfe did, and were now at the village of Sillery, not far from Wolfe's place of ascent. Murray, who had only about three thousand men available for such a purpose, the rest having been reduced by sickness, or being needed to man the fortifications, yet ventured to march out against them. He was emulous of the fame of Wolfe, and attacked this overwhelming force with great impetuosity, but was soon compelled to retire into Quebec with the loss of one thousand men killed and wounded. This was a serious matter with their scanty garrison, considering the numbers of the enemy, and the uncertainty of the arrival of succour.[See larger version]