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FORE:The South Sea Company had immediately on the passing of the Bill proposed a subscription of one million, and this was so eagerly seized on that, instead of one, two millions were subscribed. To stimulate this already too feverish spirit in the public, the Company adopted the most false and unjustifiable means. They had eight millions and a half to pay over to Government as a douceur for granting them the management of the Funds; and, therefore, to bring this in rapidly, they propagated the most lying rumours. It was industriously circulated that Lord Stanhope had received overtures at Paris to exchange Gibraltar and Port Mahon for invaluable gold lands in Peru! The South Sea trade was vaunted as a source of boundless wealth in itself. In August the stock had risen from the one hundred and thirty of the last winter to one thousand! Men sold houses and land to become shareholders; merchants of eminence neglected their affairs and crippled their resources to reap imaginary profits. The Company flattered the delusion to the utmost. They opened a third, and even a fourth subscription, larger than the former, and passed a resolution that from next Christmas their yearly dividend should not be less than fifty per cent.! In labouring to increase the public delusion they seem to have caught the contagion themselves, for they began to act, not like men who were blowing a bubble which they knew must speedily burst, but like persons who had mounted permanently into the very highest seat of prosperous power. They assumed the most arrogant and overbearing manner, even towards men of the highest station and influence. "We have made them kings," said a member of Parliament, "and they deal with everybody as such."The year 1824 is memorable in Ireland for the establishment of the Catholic Association. The Catholic question had lain dormant since the union. Ireland remained in a state of political stupor. There was a Catholic committee, indeed, under the direction of a gentleman of property, Mr. John Keogh, of Mount Jerome, near Dublin. But his voice was feeble, and seldom heard. The councils of the Roman Catholics were much distracted. Many of the bishops, and most of the gentry, recommended prudence and patience as the best policy. Liberal statesmen in England were willing to make concessions, but the conscientious scruples of George III. had presented an insuperable barrier in the way of civil equality. There was an annual motion on the subjectfirst by Grattan, then by Plunket, and lastly by Burdett; but it attracted very little attention, till the formidable power of the Catholic Association excited general alarm for the stability of British institutions. Adverting to the past history of Irelandher geographical position, her social state in respect of the tenure of property, and the numbers of the respective religious denominations of her peoplethe ablest Conservative statesmen considered that it would be extremely difficult to reconcile the perfect equality of civil privilege, or rather the bona fide practical application of that principle, with those objects on the inviolable maintenance of which the friends and opponents of Catholic Emancipation were completely agreednamely, the Legislative union and the Established Church. There was the danger of abolishing tests which had been established for the express purpose of giving to the legislature a Protestant charactertests which had been established not upon vague constitutional theories, but after practical experience of the evils which had been inflicted and the dangers which had been incurred by the struggles for ascendency at periods not remote from the present. There was the danger that the removal of civil disabilities might materially alter the relations in which the Roman Catholics[249] stood to the State. Sir Robert Peel, in his "Memoirs," recites those difficulties at length, and in all their force. He fully admits that "the Protestant interest" had an especial claim upon his devotion and his faithful service, from the part which he had uniformly taken on the Catholic question, from the confidence reposed in him on that account, and from his position in Parliament as the representative of the University of Oxford.
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FORE:Gustavus Adolphus IV. of Swedenwith all the military ardour of Charles XII., but without his military talent; with all the chivalry of an ancient knight, but at the head of a kingdom diminished and impoverishedhad resisted Buonaparte as proudly as if he were monarch of a nation of the first magnitude. He refused to fawn on Napoleon; he did not hesitate to denounce him as the curse of all Europe. He was the only king in Europe, except that of Great Britain, who withstood the marauder. He was at peace with Great Britain, but Alexander of Russia, who had for his own purposes made an alliance with Napoleon, called on him to shut out the British vessels from the Baltic. Gustavus indignantly refused, though he was at the same time threatened with invasion by France, whose troops, under Bernadotte, already occupied Denmark. At once he found Finland invaded by sixty thousand Russians, without any previous declaration of war. Finland was lost, and Alexander saw his treachery rewarded with the possession of a country larger than Great Britain, and with the whole eastern coast of the Baltic, from Tornea to Memel; the ?land Isles were also conquered and appropriated at this time. The unfortunate Gustavus, whose high honour and integrity of principle stood in noble contrast to those of most of the crowned heads of Europe, was not only deposed for his misfortunes, but his line deprived of the crown for ever. This took place in March, 1809. The unfortunate monarch was long confined in the castle of Gripsholm, where he was said to have been visited by the apparition of King Eric XIV. He was then permitted to retire into Germany, where, disdainfully refusing a pension, he divorced his wife, the sister of the Empress of Russia, assumed the name of Colonel Gustavson, and went, in proud poverty, to live in Switzerland. These events led to the last of Sweden's great transactions on the field of Europe, and by far the most extraordinary of all.
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FORE:The deaths of monarchs, however, were peculiarly fatal to this ambitious man; that of Queen Anne had precipitated him from power, and rescued his country from the ruin he prepared for it; that of George now came as opportunely to prevent the national calamity of his ministry. George set out for Hanover on the 3rd of June, accompanied, as usual, by Townshend and the Duchess of Kendal. Just before his departure the youthful Horace Walpole saw him for the first and last time. When the king was come down to supper, Lady Walsingham took Walpole into the Duchess's ante-room, where George and his favourite were alone. Walpole knelt and[57] kissed the king's hand. George appeared in his usual health.
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