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[257]The time for the last grand conflict for the recovery of their forfeited throne in Great Britain by the Stuarts was come. The Pretender had grown old and cautious, but the young prince, Charles Edward, who had been permitted by his father, and encouraged by France, to attempt this great object in 1744, had not at all abated his enthusiasm for it, though Providence had appeared to fight against him, and France, after the failure of Dunkirk, had seemed to abandon the design altogether. When he received the news of the battle of Fontenoy he was at the Chateau de Navarre, near Evreux, the seat of his attached friend, the young Duke de Bouillon. He wrote to Murray of Broughton to announce his determination to attempt the enterprise at all hazards. He had been assured by Murray himself that his friends in Scotland discountenanced any rising unless six thousand men and ten thousand stand of arms could be brought over; and that, without these, they would not even engage to join him. The announcement, therefore, that he was coming threw the friends of the old dynasty in Scotland into the greatest alarm. All but the Duke of Perth condemned the enterprise in the strongest terms, and wrote letters to induce him to postpone his voyage. But these remonstrances arrived too late; if, indeed, they would have had any effect had they reached him earlier. Charles Edward had lost no time in making his preparations.On the day of Chatham's death, his friend and disciple, Colonel Barr, announced the melancholy event in the House of Commons, and moved that his funeral should be conducted at the public charge, and his remains be deposited in Westminster Abbey. This was seconded by Thomas Townshend, afterwards Secretary of State, and Lord Sydney. All parties consented, with many praises, to this suggestion; and two days afterwards, Lord John Cavendish introduced the subject of a further testimony of public regard for the departed. It was well known that Chatham, notwithstanding the ten thousand pounds left him by the Duchess of Marlborough, notwithstanding the emoluments of his places and pensions, and the noble estate bequeathed to him by Sir William Pynsent, was still in debt. Lord John Cavendish put to the score of disinterestedness what ought probably to have been placed to the account of free living and little care of money, and called on Parliament to reward the descendants of the Earl for the great addition which he had made to the empire as well as to its glory. Lord North cordially assented.
  • ONE: TWO: "MY DEAR LORD ANGLESEY,I have been very sensible, since I received your last letter, that the correspondence which that letter terminated had left us in a relation towards each other which ought not to exist between the Lord-Lieutenant and the king's Minister, and could not continue to exist without great inconvenience and injury to the king's service. I refrained from acting upon this feeling till I should be able to consult with my colleagues, and I took the earliest opportunity which the return to town of those who were absent afforded to obtain their opinion, which concurred with my own. Under these circumstances, having taken the king's pleasure upon the subject, his Majesty has desired me to inform you that he intends to relieve you from the Government of Ireland. I will shortly notify the arrangements which will become necessary in consequence.

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  • ONE:IRISH PRISONERS LIBERATED DURING LORD MULGRAVE'S PROGRESS. (See p. 396.) TWO:

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  • ONE:BERNADOTTE (KING OF SWEDEN). TWO:Meanwhile, in America military intrigues were on foot against Washington. Amongst these endeavours was one for alienating from him Lafayette. For this purpose an expedition was planned against Canada, and Lafayette, as a Frenchman, was appointed to the command, hoping thus to draw to him the Frenchmen of Canada. Not a word was to be breathed of it to Washington; and Conway and Starke, two of the most malicious members of the cabal, were to take command under Lafayette. On the 24th of January, 1778, Washington received a letter from Gates, the President of the Board of War, commanding him to send one of his best regiments to Albany, on the Hudson, for a particular service, and enclosing another to Lafayette, requiring his immediate attendance on Gates. Gates found, however, that Lafayette was not to be seduced from his attachment to Washington. He would not accept the command, otherwise than as acting in subordination to his Commander-in-Chief; and he should send all his despatches and bulletins to him, at the same time that he furnished copies to Congress. The vain Frenchman verily believed that he was going to restore Canada, not to America, but to the French Crowna fear which began to haunt Congress after he had set out; but the fear was needless. When Lafayette reached his invading army, instead of two thousand five hundred men, it amounted to about one thousand two hundred, and the militia were nowhere to be heard of. Clothes, provisions, sledges, were all wanting, and, instead of leading his troops, as he was directed, to Lake Champlain, whence he was to proceed to ?le-aux-Noix to blow up the English flotilla, and thence, crossing the Sorel, to descend the St. Lawrence to Montreal, he gave up the expedition with a sigh, and returned to the camp of Washington.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.

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THREE:TRICOTEUSE, OR KNITTING WOMAN, OF THE NATIONAL CONVENTION.
FORE:Clinton, having now united his forces at New York, directed his attention to the approach of the fleet of D'Estaing. This had sailed for the Delaware, expecting to find Lord Howe there; but, finding that he had sailed for New York, it followed him, and arrived there six days after him. The fleet of D'Estaing consisted of twelve sail-of-the-line and six frigates. Howe had only ten sail-of-the-line, and some of them of only forty or fifty guns, and a few frigates. Besides, D'Estaing had heavier metal, and ships in much better condition, for those of Howe were old and out of repair, and their crews were considerably deficient. Altogether, D'Estaing had eight hundred and fifty-four guns; Howe, only six hundred and fourteen. From D'Estaing's superiority of force it was quite expected that he would attack Howe; but he was dissuaded by the pilots from entering the harbour, and lay outside eleven days, during which time he landed the Ambassador. Lord Howe showed much spirit in preparing for an encounter, though he was daily in expectation of Admiral Byron with some additional ships, the Admiral coming to supersede him. He put his ships in the best order he could, and the English seamen hurried in from all quarters to man his vessels. A thousand volunteers came from the transports, and masters and mates of merchantmen offered their services. Just, however, when it was expected that D'Estaing would avail himself of the tide, on the 22nd of July, to enter the harbour, he sailed away for Rhode Island, and up the Newport river. In a few days Howe sailed in quest of D'Estaing. They found D'Estaing joined by Lafayette with two thousand American troops, and by General Sullivan with ten thousand more, and D'Estaing proposed to land four thousand from his fleet. The English garrison in Newport amounted to only five thousand men. But here a contest arose between D'Estaing and Sullivan for the supreme command, and this was not abated till Howe with his fleet hove in sight. Then D'Estaing stood out to sea, in spite of the remonstrances of Sullivan, Greene, and the other American officers. Lord Howe endeavoured to bring him to action, at the same time man?uvring to obtain the weather-gauge of him. In these mutual endeavours to obtain the advantage of the wind, the two fleets stood away quite out of sight of Rhode Island, and Sullivan commenced in their absence the siege of Newport. Howe, at length, seeing that he could not obtain the weather-gauge, determined to attack the French to leeward, but at this moment a terrible storm arose, and completely parted the hostile fleets, doing both of them great damage. D'Estaing returned into the harbour of Newport, but only to inform the Americans that he was too much damaged to remain, but must make for Boston to refit. Sullivan and the other officers remonstrated vehemently against his departure; but in vain. Scarcely had D'Estaing disappeared, when Sir Henry Clinton himself, leading four thousand men, arrived in Rhode Island, and Sullivan crossed to the mainland in haste. He blamed the French for the failure of the enterprise.

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FORE:The French left six hundred killed and wounded on the field; the British had four hundred and eighty killed or disabled. Laborde retreated amongst the hills to the village of Azambugueira, and thence to Torres Vedras, where he looked for the junction of Loison, and where that general really appeared. Still the British force was equal, if not superior, in numbers to the French, and Sir Arthur Wellesley advanced along the sea-coast to Vimiera, where he was joined by Generals Anstruther and Acland. Unfortunately, at this moment arrived Sir Harry Burrard, whom the Ministry had ordered to supersede Sir Arthur Wellesley in the chief command till the arrival of Sir Hew Dalrymple, who was to be the General-in-Chief; Burrard, second in command; and Wellesley, Sir John Moore, Lord Paget, Sir John Hope, and Macdonald Frazer, to command different[560] divisions. Thus, by the old system of routine, the real military genius was reduced from the first to the fourth in command. Sir Arthur went on board Sir Harry Burrard's vessel on the evening of his arrival, the 20th of August, and explained to him the positions of the armies, and his plan of advancing along the coast to Mafra, thus turning the flank of Laborde and Loison, and compelling them to fight or retreat on Lisbon. This was clearly the view of every one of the officers, who were eager to press on; but Sir Harry, old and cautious, was of opinion that nothing more should be risked till Sir John Moore arrived with his reinforcements. Sir Arthur must have returned under a sense of deep disappointment, but, fortunately for him, the enemy did not allow of his waiting for Sir John Moore. At midnight he received a hasty message that the French were in motion, and coming in one dense mass of twenty thousand men to surprise and rout him. Sir Arthur was strongly posted in the village of Vimiera and on the hills around it. He sent out patrols, and ordered the pickets to be on the alert, and he then called out his troops, and had them in good fighting order by the dawn of day. At about seven o'clock the advance of the enemy was perceived by the clouds of dust that rose into the air, and soon they were seen coming on in columns of infantry, preceded by cavalry. By ten o'clock the French were close at hand, and made an impetuous attack on the British centre and left, to drive them into the sea, according to a favourite French phrase, the sea actually rolling close to their rear. The first troops which came into collision with them were the 50th regiment, commanded by Colonel Walker. Seeing that the intention of the French, who were led by Laborde himself, was to break his line by their old method of pushing on a dense column by a momentum from behind, which drove in the van like a wedge, in spite of itself, Colonel Walker instantly changed the position of his regiment so as, instead of a parallel line, to present an oblique one to the assailing column. This was, therefore, driven on by the immense rear, and, instead of breaking the British line, was actually taken in flank by it, and the musketry and grape-shot mowed down the French in a terrible manner. This was at once succeeded by a rapid charge with the bayonet; and so astonishing was the effect of this unexpected movement, that the French were thrown into irretrievable confusion, and broke on every side. Whilst this was the effect on the centre and left, General Sir Ronald Fergusson was attacked with equal impetuosity by Loison: bayonets were crossed, and the same result as took place at Maida occurredthe French fell back and fled. Nothing was wanted but a good body of cavalry to follow up the flying foe, and completely reduce them to surrender. The small body of horse, commanded by Colonel Taylor, fought with an ardour that led them too far into the centre of Margaron's powerful cavalry, and Colonel Taylor was killed, and half of his little troop with him. Kellermann, to stop the pursuit, posted a strong reserve in a pine wood, on the line of retreat, but they were driven out at the point of the bayonet. Had the orders of General Wellesley now been carried out, the French would have been cut off from much further retreat. General Hill was commanded to take a short cut, and interpose between the French and the strong position of Torres Vedras, and General Fergusson was directed to follow sharply in their rear. In all probability they must have capitulated at once; but here the evil genius of Sir Harry Burrard again interfered to save them. He appeared on the field and thought sufficient had been done till Sir John Moore arrived. It was not enough for him that the French had now been twice put to rout within a few days, and were in full flight, and that they were found not to be twenty thousand, but only eighteen thousand strong. He ordered the pursuit to cease, and the army to sit down at Vimiera till the arrival of Moore. To the great astonishment of the French, and the equal mortification of the British, the retreating enemy was thus allowed to collect their forces and take possession of the heights of Torres Vedras.Though the genius and services of Pitt to his country have been overrated, he was a man of great and persevering energies, of remarkable talent and conspicuous oratory; but his temperament was cold, proud, self-glorifying, and imperious, without either the deep insight or the comprehensive grasp of genius.

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FORE:From this episode of fire and fanaticism we recur to the general theme of the war with Spain, France, and America, in which England was every day becoming more deeply engaged. From the moment that Spain had joined France in the war against us, other Powers, trusting to our embarrassments with our colonies and those great European Powers, had found it a lucrative trade to supply, under neutral flags, warlike materials and other articles to the hostile nations; thus, whilst under a nominal alliance, they actually furnished the sinews of war against us. In this particular, Holland, the next great commercial country to Britain, took the lead. She furnished ammunition and stores to the Spaniards, who all this while were engaged in besieging Gibraltar. Spain had also made a treaty with the Barbary States, by which she cut off our supplies from those countries. To relieve Gibraltar, Admiral Sir George Rodney, who was now appointed to the command of our navy in the West Indies, was ordered to touch there on his way out. On the 8th of January 1780, when he had been a few days out at sea, he came in sight of a Spanish fleet, consisting of five armed vessels, convoying fifteen merchantmen, all of which he captured. These vessels were chiefly laden with wheat, flour, and other provisions, badly needed at Gibraltar, and which he carried in with him, sending the men-of-war to England. On the 16th he fell in with another fleet off Cape St. Vincent, of eleven ships of the line, under Don Juan de Langara, who had come out to intercept the provisions which England sent to Gibraltar. Rodney had a much superior fleet, and the Spanish admiral immediately attempted to regain his port. The weather was very tempestuous, and the coast near the shoal of St. Lucar very dangerous; he therefore stood in as close as possible to the shore, but Rodney boldly thrust his vessels between him and the perilous strand, and commenced a running fight. The engagement began about four o'clock in the evening, and it was, therefore, soon dark; but Rodney, despite the imminent danger of darkness, tempest, and a treacherous shore, continued the fight, and the Spaniards for a time defended themselves bravely. The battle continued till two o'clock in the morning; one ship, the San Domingo, of seventy guns, blew up with six hundred men early in the action; four ships of the line, including the admiral's, of eighty guns, struck, and were carried by Rodney safe into port; two seventy-gun ships ran on the shoal and were lost; and of all the Spanish fleet only four ships escaped to Cadiz.

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THREE:BURNING OF THE HOUSES OF PARLIAMENT. (See p. 376.)AMERICAN PROVINCES in 1763 AFTER THE CONTEMPORARY MAP by Peter Bell
THREE: Events in EnglandThe Budgets of 1848Repeal of the Navigation ActThe Jewish Disabilities BillElection of Baron Rothschild by the City of LondonHe is refused the OathElection of Alderman SalomonsHe takes his Seat in Spite of the SpeakerAction in the Court of the ExchequerThe Bill finally passedColonial Self-GovernmentLord Palmerston's Foreign Policy censured by the House of LordsThe Don Pacifico DebateTestimonial to Lord PalmerstonPeel's last SpeechHis DeathTestimony as to his WorthHonours to his Memory.Very important events had during this time been taking place in Europe. In the north, Russia, checked in its encroachments on Turkey for the present, turned its eyes on the inviting region of Poland. Poland, after neglecting its own internal improvement, and the raising of the condition of its people, so as to give them a[396] real interest in the defence of the country, had suddenly set about establishing a new Constitution, very much on the model of the French Revolutionary one. The Diet declared the throne hereditary, and not elective, as hitherto; and Stanislaus Augustus, the kingthat is, Poniatowski, the former lover and favourite of Catherine of Russiawas wholly agreeable to this. The Diet proposed the Elector of Saxony as Poniatowski's successor, the king having no children. It also admitted the burgher class into its body. As there was a strong party, however, in opposition to the popular party, the patriots met secretly, and not only pledged themselves to the new Constitution, but to pass it en masse and at once, without canvassing the particular articles of it. The king, being privy to this, on the 3rd of May, 1791, entered the hall of the Diet. The new Constitution was read, passed by a majority, and signed by the king. Stanislaus then led the way to the cathedral, where he was followed by all the nuncios except twelve, and there both he and they swore to maintain this new Constitution. An unexpected difficulty was found in persuading the Elector of Saxony to accept the Crown; for, though both Russia and Prussia still professed friendship for Poland, he was too well aware of the designs of Russia on Poland to accept the dangerous post without much hesitation. At length, in the month of April, 1792, the Elector gave his reluctant consent, but not without stipulating that they should give more power to the sovereign, and limit more that of the Diet; that the right of determining peace and war should belong to the king, as well as the authority over the army. He objected to a number of things, evidently borrowed from the revolutionary French, such as the oath taken to the nation, and the education of the heir by the Diet, just as the National Assembly had claimed the right to educate the Dauphin.
FORE:
FORE:Such language was certain to irritate, in no ordinary degree, the full-blown pride of Buonaparte. It is probable that he was only too desirous of finding a cause of quarrel with Prussia. He longed to avenge himself on her for keeping him in a state of tantalising uncertainty during his Austrian campaign; and he wished to bring the whole of Germany under his dominion. He replied, through Talleyrand, that Prussia had no right to demand from him that he should withdraw his troops from friendly States, and that they should remain there as long as he pleased. In fact, he was already watching the movements of Prussia. He was well aware of the negotiations with Russia, he had full information of the man?uvring of troops, and that the Queen of Prussia, in the uniform of the regiment called by her name, had been at reviews of the army, encouraging the soldiers by her words. He had, weeks before, assembled his principal marshalsSoult, Murat, Augereau, and Bernadottein Paris, and, with them, sketched the plan of the campaign against Prussia. Four days before Knobelsdorff presented the King of Prussia's letter to Talleyrand Napoleon had quitted Paris, and was on the Rhine, directing the march of his forces there, and calling for the contingents from the princes of the Rhenish Confederation; nay, so forward were his measures, that his army in Germany, under Berthier, stretched from Baden to Düsseldorf, and from Frankfort-on-the-Main to Nuremberg. At the same time he commenced a series of the bitterest attacks on Prussia in the Moniteur and other papers under his control, and of the vilest and most unmanly attacks on the character of the Queen of Prussia, a most interesting and amiable woman, whose only crime was her patriotism.
FORE:
THREE:CADIZ.

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THREE:Nelson, having blockaded the port of Alexandria, sailed to Naples to repair. There he received the news of the intense rejoicing his victory had spread through England, and that he was raised to the peerage by the title of Baron Nelson of the Nile. He found Ferdinand of Naples already collecting an army to drive the French from Rome and Tuscany. Austria, Switzerland, and other countries were again in arms. The Treaty of Campo Formio was at an end by the French violation of it everywhere, and as it was supposed that Buonaparte would never be allowed to get back again, the spirit of Europe had revived. Nelson, allowing himself as little repose as possible, in November had made himself master of the Island of Gozo, separated only by a narrow channel from Malta. He had blockaded Malta itself, and it must soon surrender. Pitt, elated by Nelson's success, and in consequence of the death of the old czarina, Catherine, some two years earlier, now entered into a treaty with her successor, Paul, who was subsidised by a hundred and twelve thousand pounds a month, and great expectations were raised of the effect of his victorious general, Suvaroff, leading an army into Italy. The other members of the second grand coalition were Austria, the Princes of Germany, and the Ottoman Empire. Prussia weakly held aloof. When the British Parliament met on the 20th of November, the late victory and this new alliance with Russia were the themes of congratulation from the throne. Twenty-nine million two hundred and seventy-two thousand pounds were granted with alacrity for the ensuing year, and the nation willingly submitted to the imposition of a new impostthe income tax.The American Congress, which had imagined Gates a greater officer even than Washington, because he had captured Burgoyne through the ability of Arnold, though Washingtonfrom envy, as they supposedhad always held a more correct opinion, now saw their error. No sooner was this victory at Camden achieved, than Cornwallis dispatched Tarleton after General Sumter, who was marching on the other side of the Wateree on his way into South Carolina. Tarleton started after him with a couple of hundred of cavalry, and rode so sharply that he had left half his little force behind him, when he came up with him near Catawba Ford, and fell upon his far superior force without a moment's hesitation, killing and wounding one hundred, and taking captive upwards of two hundred, with all Sumter's baggage, artillery, and one thousand stand of arms.
FORE:As winter approached, the state of things assumed a more portentous aspect. The leading agitators were themselves dismayed when they looked down the precipice to the edge of which they had brought the nation. O'Connell at the end of September issued an address, urging the people to discontinue their assemblies, and they obeyed. His lieutenants were exceedingly anxious that the Liberal Protestants should take an active part as mediators in order, if possible, to avert a disastrous collision. A good occasion was offered by the visit of Lord Morpeth to Ireland. This enlightened and accomplished noblemanalways the friend of civil and religious liberty, destined to preside over the Government of Ireland, as Viceroy, when the rgime of civil equality was fully established, and to be the congenial interpreter of its spiritwas then invited to a great banquet, which was attended by all the leading friends of civil and religious liberty in and about Dublin, Protestant and Catholic. The Duke of Leinster was in the chair, and Mr. Sheil appealed to him, in the most eloquent terms, by all that was patriotic and glorious in the history of his ancestors the Geraldineswhich for seven hundred years formed a great part of the history of Ireland, and who were in past times considered more Irish than the Irish themselvesto put himself at the head of the Liberal party.
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FORE:"The Minister might ask Parliament for power to suspend the Habeas Corpus Act, and to place all Ireland under military law. To ask for less would be ridiculous; because the Act against unlawful assemblies had failed, and, on account of its helplessness, was suffered to expire. Now, would Parliament grant such extensive powers to any Government merely that the Government might be enabled to debar his Majesty's Roman Catholic subjects a little longer from enjoying equal political privileges with Protestants? The issue was very doubtfulperhaps it was not doubtful at all. Parliament would never grant such powers. But, assuming that the powers were given, what must follow?a general insurrection, to be put down after much bloodshed and suffering, and then a return to that state of sullen discontent which would render Ireland, ten times more than she had ever been, a millstone round the neck of Great Britain, and by-and-by, when military law ceased, and the same measure of personal liberty was granted to Irishmen which the natives of England and Scotland enjoyed, a renewal of agitation, only in a more hostile spirit, and the necessity of either reverting again and again to measures of coercion, or of yielding at last what, upon every principle of humanity and common sense, ought not to have been thus far withheld. But the Minister, if the existing Parliament refused to give him the powers which he asked, might dissolve, and go to the country with a strong Protestant cry; and this cry might serve his purpose in England and Scotland. Doubtless; but what would occur in Ireland?the return of Roman Catholic members in the proportion of four to one over Protestants, and the virtual disfranchisement thereby of four-fifths of the Irish people. Would Ireland submit quietly to any law carried against herself in a House of Commons so constituted? Was it not much more probable that a dissolution would only lead to the same results which had been shown to be inevitable in the event of the existing Parliament acquiescing in the Ministers' views? And was there not, at all events, a chance that the electors, even, of England and Scotland, might refuse to abet a policy so pregnant with danger to themselves and to the commonwealth? But why move at all? Mr. O'Connell had been elected by the priests and rabble of Clare to represent them in Parliament. Let him retain this empty honour; or, better still, let him be summoned by a call of the House to the bar, and, on his refusal to take the oaths, issue a new writ, and go to a new election. In the first place, Mr. O'Connell could not be forced to attend to a call of the House, such call being obligatory only on members chosen at a general election; and in the next, if he did attend, what then? As soon as the new writ was issued, he would take the field again as a candidate, and again be elected; and so the game would continue to be played, till a dissolution occurred, when all those consequences of which we have elsewhere spoken would inevitably come to pass."
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FORE: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:
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TWO:GREAT SEAL OF GEORGE I.At length it was announced that peace was signed with France at Utrecht, and it was laid before the Council (March 31, 1713). Bolingbroke had made another journey to the Continent to hasten the event, but it did not receive the adhesion of the Emperor at last. Holland, Prussia, Portugal, and Savoy had signed, but the Emperor, both as king of Austria and head of the Empire, stood out, and he was to be allowed till the 1st of June to accept or finally reject participation in it. This conclusion had not been come to except after two years' negotiation, and the most obstinate resistance on the part of all the others except England. Even in the English Cabinet it did not receive its ratification without some dissent. The Lord Cholmondeley refused to sign it, and was dismissed from his office of Treasurer of the Household. On the 9th of April the queen opened Parliament, though she was obliged to be carried thither and back in a chair in consequence of her corpulence and gout. She congratulated the country on this great treaty, declared her firm adherence to the Protestant succession, advised them to take measures to reduce the scandalous licentiousness of the Press, and to prevent duelling, in allusion to the tragic issue of that between Hamilton and Mohun. She finally exhorted them to cultivate peace amongst themselves, to endeavour to allay party rage; and as to what forces should be necessary by land and the sea, she added, "Make yourselves safe; I shall be satisfied. Next to the protection of Divine Providence, I depend on the loyalty and affection of my people; I want no other guarantee." On the 4th of May the proclamation of peace took place. It was exactly eleven years since the commencement of the war. The conditions finally arrived at were those that have been stated, except that it was concluded to confer Sicily on the Duke of Savoy for his services in the war; on the Elector of Bavaria, as some equivalent for the loss of Bavaria itself, Sardinia, with the title of king; and that, should Philip of Spain leave no issue, the Crown of Spain should also pass to him.
TWO:These were his first decrees:I. The British Isles were declared in a state of blockade. II. All commerce and correspondence with Britain was forbidden. All British letters were to be seized in the post-houses. III. Every Englishman, of whatever rank or quality, found in France, or the countries allied with her, was declared a prisoner of war. IV. All merchandise or property of any kind belonging to British subjects was declared lawful prize. V. All articles of British manufacture, and articles produced in her colonies, were, in like manner, declared contraband and lawful prize. VI. Half of the produce of the above confiscations was to be employed in the relief of those merchants whose vessels had been captured by British cruisers. VII. All vessels coming from Britain or British colonies were to be refused admission into any harbour in or connected with France. These decrees were to be binding wherever French power extended, but they had no effect in checking the commerce of Britain; the distress to Continental merchants, however, and the exasperation of the people deprived of British manufactures, grew immediately acute. Bourrienne says that the fiscal tyranny thus created became intolerable. At the same time, the desire of revenue induced Buonaparte to allow his decrees to be infringed by the payment of exorbitant licences for the import of British goods. French goods, also, were lauded with incredible impudence, though they were bought only to be thrown into the sea. Hamburg, Bordeaux, Nantes, and other Continental ports solicited, by petitions and deputations, some relaxation of the system, to prevent universal ruin. They declared that general bankruptcy must ensue if it were continued. "Be it so," replied Buonaparte, arrogantly; "the more insolvency on the Continent, the more ruin in England." As they could not bend Buonaparte, merchants, douaniers, magistrates, prefects, generals, all combined in one system of fraudulent papers, bills of lading or certificates, by which British goods were admitted and circulated under other names for sufficient bribes. The only mischief which his embargo did was to the nations of the Continent, especially Holland, Belgium, Germany, and to himself; for his rigour in this respect was one of the things which drove the whole of Europe to abominate his tyranny, and rejoice in his eventual fall.Progress was again shown in a speech of Lord John Russell in the debate on the condition of the people on the 26th of May. Still clinging to his idea of a fixed duty, he said, "If I had a proposition to make, it would not be the 8s. duty which was proposed in 1841." An exclamation of "How much, then?" from Sir James Graham drew forth the further remark"No one, I suppose, would propose any duty that would be less than 4s.; and 4s., 5s., or 6s., if I had a proposition to make, would be the duty that I should propose." The awkward anomalies of Sir Robert Peel's position were the frequent subject of the attacks of his enemies at this time; but the country felt that there was a littleness in the Whig leader's paltry and vacillating style of dealing with a great question, beside which, at least, the position of the Minister exhibited a favourable contrast.
TWO:Mr. Charles Ormsby, counsel to commissioners, value 5,000But these assumptions of new territories and new honours had, as we have seen, alarmed the Northern Powers and Austria. They saw that they could have no peace with such a man, except it were a peace of continual encroachment, humiliation, and slavery, and Russia went so far as to recall her Ambassador, though without a declaration of war.[504] There was the utmost necessity for union, caution, and the exertion of every ability. But the folly and incapacity of those nations appeared to rise in intensity in proportion to the actual need of wisdom, and to the genius of their enemy. Britain, could give them money, but she could not give them talent and sagacity. Before Russia could march down to unite with Austria, Austria, which had so long hung back, and thus delayed the operations of Alexander, now showed as fatal a temerity, and commenced the campaign alone. She rushed into Bavaria, whose Elector, Maximilian Joseph, had entered into league with Buonaparte, in common with Würtemberg and other German States. The Emperor Francis had despatched Schwarzenberg to Munich, to endeavour to prevail on him to unite with Austria against the common enemy of Germany. Maximilian Joseph pleaded that he was quite resolved on doing that, but that his son was travelling in France, and he prayed time to recall him, or Buonaparte would wreak his vengeance upon him. This should have induced Francis of Austria to delay at least a sufficient time for this purpose, especially as it gave another chance for the decision of Prussia in their favour, when it saw the Russians already on the march. Whether the Elector of Bavaria would eventually have kept his promise is doubtful, for Napoleon was, on the other hand, pressing him close, through his Ambassador, M. Otto, to proclaim openly the secret alliance concluded with France.

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It was now the turn of the French to triumph, and of the Allies to suffer consternation. Louis, once more elate, ordered Te Deum to be sung in Notre Dame, and all Paris was full of rejoicing. He declared that God had given a direct and striking proof of the justice of his cause and of the guilty obstinacy of the Allies. His plenipotentiaries assumed at Utrecht such arrogance that their very lacqueys imitated them; and those of Mesnager insulted one of the plenipotentiaries, Count von Richteren, and Louis justified them against all complaints. In such circumstances, all rational hope of obtaining peace except on the disgraceful terms accepted by England vanished.Otherwise the prospect was dismal enough, and some of the greatest thinkers of the age were profoundly affected by the conviction that they were on the eve of a vast convulsionthat the end of the world was at hand, and that the globe was about to emerge into a new state of existence. The unsettled state of society accounts, in some measure, for the prevalence of the delusions of Edward Irvingthen in the height of his fame; delusions from which such minds as Dr. Arnold's did not wholly escape. In reply to inquiries about the gift of tongues, this great man wrote:"If the thing be real, I should take it merely as a sign of the coming day of the Lord. However, whether this be a real sign or no, I believe the day of the Lord is comingi.e. the termination of one of the great ages of the human race; whether the final one of all, or not, that, I believe, no created being knows, or can know.... My sense of the evils of the times, and to what purpose I am bringing up my children, is overwhelmingly bitter. All the moral and physical worlds appear so exactly to announce the coming of the great day of the Lordi.e. a period of fearful visitation, to terminate the existing state of thingswhether to terminate the whole existence of the human race, neither man nor angel knowsthat no entireness of private happiness can possibly close my mind against the sense of it."
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