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Before the close of April a great commercial crisis had taken place in England, and Ministers were compelled to make a new issue, by consent of Parliament, of five millions of Exchequer Bills, to assist merchants and manufacturers, under proper security. The sudden expansion of industry which was met by an undue increase of the paper currency rather than bullion, combined[417] with reckless banking, produced the crisis. It was calculated that out of the 350 provincial banks 100 failed. In the circumstances the issue of Exchange Bills was a most successful makeshift.

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On the 22nd of February the English House of Commons resolved itself into a Committee, on the motion of Pitt, to consider these resolutions. Pitt spoke with much freedom of the old restrictive jealousy towards Ireland. He declared that it was a system abominable and impolitic; that to study the benefit of one portion of the empire at the expense of another was not promoting the prosperity of the empire as a whole. He contended that there was nothing in the present proposals to alarm the British manufacturer or trader. Goods, the produce of Europe, might now be imported through Ireland into Britain by authority of the Navigation Act. The present proposition went to allow Ireland to import and then to export the produce of our colonies in Africa and America into Great Britain. Beyond the Cape of Good Hope, or the Straits of Magellan, they could not go, on account of the monopoly granted to the East India Company.And,
ONE:Wolfe then held a council with his two next in command, the Brigadiers Monckton and Townshend, and they resolved, as a desperate attempt, to move up the river, and thus endeavour to draw Montcalm from his unassailable position. Accordingly, leaving detachments to defend the Isle of Orleans and Point Levi, the rest of the army ascended the St. Lawrence for some miles, and pitched their camp on the right bank. To attract still more attention, Admiral Holmes was ordered to put his vessels in active motion for some days, as if seeking a landing-place higher up the river.[135] This stratagem, however, produced no other result than that of Montcalm sending a detachment of one thousand five hundred men to watch their proceedings. He himself maintained his old ground. TWO:The turn of affairs on the Continent justified Walpole's gravest apprehensions. France was discovered to have made a compact with Spain, and once having taken this step, she displayed her usual activity in every Court of Europe, to induce the allies to break with England and prevent her from making new leagues. Walpole did his best to counteract these French influences. He managed to secure the Russian Court, before in connection with France, and subsidised Sweden, Denmark, Hesse-Cassel, and some other of the German States. But at this crisis (1740) died the savage old Frederick William of Prussia, and his son Frederick now commenced that extraordinary military career which obtained him the name of the Great. Temptingly adjoining his own territory, the young king beheld that of an equally young female sovereign, Maria Theresa of Austria, and he determined to extend his kingdom at her expense. The mystery of Frederick's movements was dissipated by his crossing, on the 23rd of December, the Austrian frontiers into Silesia. It was seen that it was the favourable opportunity of overpowering a weak neighbour which had tempted the Prussian to break his engagement, and to endeavour to make himself master of the domains of a defenceless young princess. But Frederick brought out some antiquated claims on the province Of Silesia, and on these he justified his breach of treaties. Maria Theresa applied, in her alarm, to the Powers who had concurred in the Pragmatic Sanction, but all except George II. fell away instantly from her. They believed her incapable of defending her territories, and hoped to come in for a share of the spoil. The Elector of Bavaria joined Prussia; Saxony did the same; France was eager for the promised half of the winnings; and Spain and Sardinia assured Frederick of their secret support. George II., confounded by this universal defection, advised Maria Theresa to compromise the affair with Prussia by giving up half Silesia, or the whole, if necessary; but the high-spirited queen rejected the proposal with scorn, and called on George to furnish the troops guaranteed by England under the Pragmatic Sanction. George could, however, only assemble some few soldiers on the Hanoverian frontier, but this obliged Frederick to appropriate a considerable section of his army to guard against any attack from Hanover.

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ONE:

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THREE:[193]

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THREE:The mechanical invention, however, destined to produce the most extraordinary revolution in social life was that of railways, which during this reign were progressing towards the point where, combined with the steam-engine, they were to burst forth into an activity and strength astonishing to the whole world. Tram-roadsthat is, roads with lines of smooth timber for the wheels of waggons to run uponhad been in use in the Newcastle collieries for a century before. In 1767, at the Coalbrook Dale Iron Works, iron plates were substituted for wood, and by this simple scheme one horse could, with ease, draw as much as ten on an ordinary road. In 1776 iron flanges, or upright edges, were used at the collieries of the Duke of Norfolk, near Sheffield, and after this time they became common at all collieries, both above and below ground. In 1801 an iron railway, by a joint-stock company, was opened from Wandsworth to Croydon. Three years before iron railways had been introduced to convey the slates from Lord Penrhyn's quarries, in Carnarvonshire, to the Menai Strait for shipment, and they were attached to canals for the conveyance of goods to and from them. At the end of this reign there were two hundred and twenty-five miles of iron railroads in the neighbourhood of Newcastle-on-Tyne, and upwards of three hundred miles in the single county of Glamorgan.From the Painting by Robert Hillingford

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THREE:AUTHORITY. DESCRIPTION. NUMBER OF

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ONE:"'Partes ubi se via findit in ambas.'"

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In the meantime, coroners' inquests had been held on the two men who were shot by the military. In the one case the jury brought in a verdict of "justifiable homicide;" but, in the other, of "wilful murder" against the soldiers. On their part, the Government offered a reward of five hundred pounds for the discovery of any one who had been guilty of firing at the soldiers, and an additional one of five hundred pounds for the discovery of the person who had fired at and wounded Ensign Cowell, whilst on duty at the Tower, the night after the committal of Sir Francis. The Reform party in the Commons demanded whether the Government did not intend to offer a reward for the discovery of the soldiers who had fired at and wounded several of the people, and killed two of them. Whitbread moved that an inquiry should be instituted into the justice of the verdict of "wilful murder" against the soldiers, and in this he was seconded by William Smith of Norwich; but Captain Agar, who had been on duty, declared that the people had fired the first shot, and the Premier got rid of the question by asserting that an inquiry was already going on into the circumstances of the riot, and that it was not for Parliament to anticipate it.THE DUKE OF BRUNSWICK AND HIS HUSSARS (THE BLACK BRUNSWICKERS). (See p. 590.)In Ireland the effervescence assumed the shape of resistance to commercial injustice. It was, indeed, impossible to condemn too strongly the injustice which that country had endured for ages, and in nothing more than in the flagrant restrictions heaped upon its commerce and manufactures in favour of English interests. The Irish now seized on the opportunity while America was waging war against the very same treatment to imitate the American policy. They formed associations in Dublin, Cork, Kilkenny, and other[259] places, for the non-importation of British goods which could be manufactured in Ireland, till England and Ireland were placed on an equal footing in all that related to manufactures and commerce. Ministers, who had turned a deaf ear for years, and almost for ages, to such complaints, were now alarmed, especially as there was a rumour of French invasion, which might be so materially aided by disaffection in Ireland. They therefore made a pecuniary grant to relieve the commercial distress in Ireland, and passed two Acts for the encouragement of the growth of tobacco and hemp, and the manufacture of linen in that island. These concessions, however, were not deemed sufficient, and the people formed themselves into Volunteer Associations, appointing their own officers, and defraying the cost of their own equipments. This was done under the plea of the danger of invasion; but Government knew very well that American agents had been very busy sowing discontent in Ireland, and they saw too much resemblance in these things to the proceedings on the other side of the Atlantic not to view them with alarm. The Marquis of Rockingham, who had been well instructed in the real grievances of Ireland by Burke, moved in the House of Lords, on the 11th of May, for the production of all papers necessary to enable the House to come to a full understanding of the trade of Ireland and of mercantile restrictions on it with a view to doing impartial justice to that kingdom. Lord Gower promised that these should be ready for production next Session.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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