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THREE:CHAPTER XX. REIGN OF GEORGE III. (continued).Of course, the commercial changes introduced by Mr. Huskisson and Mr. Robinson excited loud murmurs of dissatisfaction from the interests affected, especially the shipping interest. But the best answer to objectors was the continuously flourishing state of the country. At the opening of the Session in 1825, Lord Dudley and Ward, in moving the Address in answer to the King's Speech in the Upper House, observed:—"Our present prosperity is a prosperity extending to all orders, all professions, and all districts, enhanced and invigorated by the flourishing state of all those arts which minister to human comfort, and those inventions by which man obtains a mastery over nature by the application of her own powers, and which, if one had ventured to foretell a few years ago, it would have appeared almost incredible." This happy state of things was the result of a legitimate expansion of trade. Manufacturers and merchants were at first guided by a spirit of sober calculation. The steady advance in the public securities, and in the value of property of all sorts, showed that the national wealth rested upon a solid basis. The extension of the currency kept pace with the development of trade and commerce, and the circulation of bankers' paper was enormously increased. But out of the national prosperity there arose a spirit of rash speculation and adventure, resulting in a monetary crisis. The issue of notes by country banks was under no restriction; no measures were taken to secure that their paper represented property, and could be redeemed if necessary. There were hundreds of bankers in the provinces who could issue any quantity of notes they pleased, and these passed as cash from hand to hand. The spirit of speculation and enterprise was stimulated to a feverish degree of excitement by the recognition of the states of Colombia, Mexico, and Buenos Ayres, formally announced in the King's Speech on the 3rd of February, which said that treaties of commerce had been made with those new states. The rich districts of South America being thus thrown open, there was a rush of capitalists and adventurers to work its inexhaustible mines. A number of companies was formed for the purpose, and the gains of some of them in a few months amounted to fifteen hundred per cent. The result was a mania of speculation, which seized upon all classes, pervaded all ranks, and threw the most sober and quiet members of society into a state of tumultuous excitement. Joint-stock companies almost innumerable were established, to accomplish all sorts of undertakings. There were thirty-three companies for making canals and docks, forty-eight for making railroads, forty-two for gas, twenty insurance companies, twenty-three banking companies, twelve navigation packet companies, five indigo and sugar companies, thirty-four metal companies, and many others. The amount of capital subscribed in these various companies, which numbered two hundred and seventy-six, was upwards of ￡174,000,000. In connection with South America there was the Anglo-Mexican Company, the Brazilian, the Colombian, Real de Monte, and the United Mexican. On the South American shares only ten pounds each had been paid, except the Real de Monte, on which ￡70 had been paid. We may judge of the extent to which gambling speculation was carried from the following statement of the market prices of the shares, in five of the principal mining companies[243], at two periods, December 10th, 1824, and January 11th, 1825:—

THREE:Meantime Cambacérès and Fouché had dispatched couriers to Louis Buonaparte, in Holland, to march down troops to the defence of Antwerp; and he had not only done that, but had opened the sluices on the borders of the Scheldt, and laid the country under water, to prevent the march of the British. He also had ordered the erection of numerous batteries, and Bernadotte arrived in about a fortnight, by orders of Napoleon, to resist the advance of the British. From forty to fifty thousand troops were assembled in and around Antwerp, and hosts of Dutch and Belgian militia swarmed over the country. This was certain to be the case if any time was allowed, and it was now agreed, in a council of war, that it was not possible to proceed further. In fact, they were no longer allowed to remain where they were. Their provisions were rapidly being exhausted, sickness was spreading amongst the troops, and the fire of the enemy's batteries from both sides of the river compelled them to fall down the stream. That was the end of the campaign; the rest was a foolish and murderous delay in the island of Walcheren, without any conceivable purpose. There was no use in retaining the island, for we could at any time blockade the mouths of the Scheldt, and our men on board the ships were comparatively healthy; but in this swamp of death the soldiers continued dying like rotten sheep. The island of Walcheren, to which they were now confined, is a spongy swamp, below the level of the sea at high water. The wet oozes through the banks, and stagnates in the dykes, and is only capable of being pumped out by windmills. The ground is covered often with mud and slime, and the inhabitants are sickly and sallow in aspect, and of loose and flaccid muscles. Yet, in this den of fever and death, the commanders seemed determined to retain the army till it perished entirely. The Earl of Chatham himself returned to London on the 14th of September, with as many of the sick as he could take. At this time he left eleven thousand, out of the seventeen thousand quartered on the island of Walcheren, on the sick-list, and rapidly dying; yet neither he nor Sir Eyre Coote, who succeeded him, seems to have felt the necessity of saving the army by retiring from the place. They attributed the unhealthiness to the dykes being cut, and the surrounding country being flooded in the hot season. No matter what was the cause, the army was perishing, and ought to have been removed; but, so far from this, the Ministers seemed determined to keep possession of this useless and pestilential swamp at any cost. As it was imagined that the drinking of the water was the cause of the fever, Thames water was carried over for the troops, five hundred tons per week being required. But it was not the drinking it only that caused disease and death, but the standing and working in it, as many of them did, up to the middle for many hours together, and the malaria arising from the oozy soil. As the roofs in Flushing were knocked to pieces by the storming of the town, British workmen, with bricks, mortar, tiles, and tools, were sent over to repair them, so as to protect the sick in the hospitals, though plenty of workmen and materials might have been had in the country.Hon. B. Stratford, ￡7,500, as half compensation for Baltinglass.

THREE:Meanwhile Brigadier Wild occupied a position of great difficulty at Peshawur. He had four native infantry regiments, containing a large number of young soldiers, whom the mutinous Sikhs had impressed with a great horror of the Khyber Pass. The only cavalry he had was a troop of irregular horse, and the only guns, four pieces of Sikh artillery. Besides, the owners of the camels, which had been hired at Ferozepore to proceed as far as Jelalabad, refused to advance farther than Peshawur. It was in these circumstances that Sale and M'Gregor earnestly urged the advance of the brigade for the relief of that place. The fortress of Ali Musjid, regarded as the key to the Khyber Pass, is situated about[498] twenty-five miles from Peshawur: and as it lay between the two positions of Sale and Wild, it was of the utmost importance that it should be occupied. It was accordingly resolved that one-half of Wild's brigade should be dispatched for this service. On the 15th of January Colonel Moseley, with the 53rd and 64th Sepoy Regiments, started under cover of the night, and reached their destination early in the morning. The fortress was about five miles up the Pass. Soon after they had taken up their position they discovered to their dismay that owing to some mistake, instead of 350 supply bullocks, which had been ordered, only fifty or sixty had arrived. Here, then, were two regiments shut up in an isolated fortress without provisions. Day after day passed and no succour came. Wild made an effort to send forward supplies, but the attempt was a disastrous failure. The Sikh auxiliaries mutinied to a man, and refused to enter the Pass. There being no prospect of relief, Colonel Moseley determined to evacuate the fortress. Captain Burt and Captain Thomas offered to remain and keep possession of so important a position, if only 150 men would volunteer for the service. But none were found willing to undertake the perilous duty, and so Ali Musjid was abandoned and suffered to fall into the hands of the Afreedis. The brigade had some fighting on its way back. Some of its officers were killed, some wounded and sick were abandoned, and some baggage was lost.

THREE:[See larger version]Lord Lovat was the last who was brought to the block for this rebellion, and we will conclude our account of it with his trial and execution, though they did not take place till March, 1747. Lovat had not appeared in arms, nor committed any overt act, and therefore it was difficult to[110] convict him. The cunning old sycophant hoped to elude the law, as he had done so often before, but Murray of Broughton, the brother of Murray, afterwards Lord Mansfield, to save his own life, turned king's evidence, and won eternal infamy by sacrificing his own friends. He not only produced letters and other documents which amply proved the guilt of Lovat, but threw broad daylight on the whole plan and progress of the insurrection from 1740 onwards. The conduct of Lovat on his trial was as extraordinary as his life had been. He alternately endeavoured to excite compassion, especially that of Cumberland—who attended this, though he avoided the trials of the other insurgents—by representing how he had carried his Royal Highness in his arms about Kensington and Hampton Court Parks as a child, and then by the most amusing jests, laughter, execrations, and tricks, to puzzle or confuse the witnesses.