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THREE:The distress which had pressed so severely on the people, and which had set them thinking about the most perilous political changes, was intimately connected with the state of the country. Throughout the troubled period of almost incessant war and lavish expenditure between 1797 and 1815, the business of the nation was carried on with an inconvertible paper currency, the precious metals having nearly all departed from the country. Bank notes were issued in such quantities, to meet the exigencies of the Government, that the prices of all commodities were nearly doubled. The Bill which was passed in 1819 providing for the resumption of cash payments had reduced the currency from ��48,278,070, which was its amount in 1819, to ��26,588,000, in 1822. The consequence was the reduction of prices in the meantime, at the rate of fifty per cent., in all the articles of production and commerce. With this tremendous fall of prices, the amount of liabilities remained unchanged; rents, taxes, and encumbrances were to be paid according to the letter of the contract, while the produce and commodities��the sale of which was relied upon to pay them��did not produce more than half the amount that they would have brought at the time of the contracts. The evil of this sudden change was aggravated by the South American Revolution, in consequence of which the annual supply of the precious metals was reduced to a third of its former amount. It was peculiarly unfortunate that this stoppage in the supply of gold and silver occurred at the very time that the Legislature had adopted the principle that paper currency should be regarded as strictly representing gold, and should be at any moment convertible into sovereigns. A paper currency should never be allowed[238] to exceed the available property which it represents, but it is not necessary that its equivalent in gold should be lying idle in the coffers of the Bank, ready to be paid out at any moment the public should be seized with a foolish panic. It is enough that the credit of the State should be pledged for the value of the notes, and that credit should not be strained beyond the resources at its command. The close of 1822 formed the turning-point in the industrial condition of the country. The extreme cheapness of provisions, after three years of comparative privation, enabled those engaged in manufacturing pursuits to purchase many commodities which they had hitherto not been able to afford. This caused a gradual revival of trade, which was greatly stimulated by the opening of new markets for our goods, especially in South America, to which our exports were nearly trebled in value between 1818 and 1823, when the independence of the South American Republics had been established. The confidence of the commercial world was reassured by the conviction that South America would prove an unfailing Dorado for the supply of the precious metals. The bankers, therefore, became more accommodating; the spirit of enterprise again took possession of the national mind, and there was a general expansion of industry by means of a freer use of capital, which gave employment and contentment to the people. This effect was materially promoted by the Small Note Bill which was passed in July, 1822, extending for ten years longer the period during which small notes were to be issued; its termination having been fixed by Peel's Bill for 1823. The average of bank-notes in circulation in 1822 was ��17,862,890. In November of the following year it had increased by nearly two millions. The effect of this extension of the small note circulation upon prices was remarkable. Wheat rose from 38s. to 52s., and in 1824 it mounted up to 64s. In the meantime the bullion in the Bank of England increased so much that whereas in 1819 it had been only ��3,595,360, in January, 1824, it amounted to ��14,200,000. The effect of all these causes combined was the commencement of a reign of national prosperity, which burst upon the country like a brilliant morning sun, chasing away the chilling fogs of despondency, and dissipating the gloom in the popular mind. FORE:Another attempt was to burn a portion of the Brest fleet, which was found lying off La Rochelle, in the Basque Roads. Lord Gambier, on the 11th of March, wrote to the Admiralty proposing to send fire-ships amongst them and destroy them. The Admiralty seized on the idea; but instead of leaving Lord Gambier to work out his own plan, they appointed Lord Cochrane to that service, under Gambier. This was sure to create jealousies, not only in the mind of Gambier��to whom the Admiralty had written on the 19th, approving his design, and ordering him to execute it according to his own ideas��but also in the minds of other officers in Gambier's fleet. Lord Cochrane proceeded to the Basque Roads in a frigate, arriving there on the 3rd of April, and presenting Gambier with a letter informing him of the change of plan by the Admiralty. Mr. Congreve, with a supply of his rockets, was to accompany the fire-ships from England; and on the 11th, these having arrived, and being joined by several large transports which Lord Gambier had converted into fire-ships, the attack was made. The French squadron was lying between the isle of Aix and the town of La Rochelle, in a narrow passage, commanded by powerful batteries both on the land and on the island of Aix. Besides this, numbers of gunboats were placed so as to defend the approach to the vessels; but still more, a very strong boom was stretched across the passage, formed of enormous cables, secured by equally enormous anchors, and supported by buoys. None of the officers, not even Gambier or Cochrane, seem to have been aware of this boom till some of the foremost fire-ships ran against it; and several of the ships, whilst thus detained, exploded, being too far off to do any harm. But Captain Woolridge, in the Mediator, burst the boom asunder, and the fire-ships sailed up towards the French ships in the dark, and exploded, one after another, with a terrible uproar��one fire-ship alone containing fifteen hundred barrels of gunpowder, besides three or four hundred shells and three or four thousand hand-grenades. But the only mischief done was to cause the French to cut their cables, and run their ships ashore. There, the next morning, they were seen; and Lord Cochrane signalled to Lord Gambier to stand in and destroy them before the rising of the tide should float them, and enable them to run up the river Charente. No ships, however, arriving, Cochrane again more urgently signalled that all the fleet was aground, except two vessels, and might easily be destroyed. Lord Gambier paid no attention to these signals, and, as the tide rose, the vessels floated and escaped up the river, except four, which still stuck fast, and were destroyed by[586] Cochrane. Those which escaped were all greatly damaged. Had Gambier stood in with his vessels promptly, no doubt the whole squadron would have been destroyed.Most unexpectedly, however, the French were as desirous of peace as the Allies ought to have been. At sea and in Italy they had not been so successful as in Flanders. Admiral Anson had defeated them off Cape Finisterre, and taken six ships of the line, several frigates, and a great part of a numerous convoy; Admiral Hawke, off Belleisle, had taken six other ships of the line; and Commodore Fox took forty French merchantmen, richly laden, on their way from the West Indies. In fact, in all quarters of the world our fleet had the advantage, and had made such havoc with the French commerce as reduced the mercantile community to great distress.

THREE:The procession, on its return, presented a still more striking appearance than before, from the circumstance that the Queen wore her crown, and the royal and noble personages their coronets. The mass of brilliants, relieved here and there by a large coloured stone, and the purple velvet cap, became her Majesty extremely well, and had a superb effect. The sight of the streets "paved with heads," and the houses alive with spectators, was most impressive. The Queen entertained a party of one hundred at dinner, and in the evening witnessed, from the roof of her palace, the fireworks in the Green Park. The Duke of Wellington gave a grand banquet at Apsley House, and several Cabinet Ministers gave official State dinners next day. The people were gratified, at the solicitation of Mr. Hawes, M.P. for Lambeth, with permission to hold a fair in Hyde Park, which continued for four days, Thursday, Friday, Saturday, and Monday. The area allotted comprised nearly one-third of the park, extending from near the margin of the Serpentine river to a line within a short distance of Grosvenor Gate. To the interior there were eight entrances, the main one fifty feet wide, and the others thirty feet each. The enclosed area was occupied by theatres, taverns, and an endless variety of exhibitions, the centre being appropriated to lines of stalls for the sale of fancy goods, sweetmeats, and toys. The Queen condescended to visit the fair on Friday. The illuminations on the night of the coronation were on a larger and more magnificent scale than had been before seen in the metropolis, and the fireworks were also extremely grand. All the theatres in the metropolis, and nearly all the other places of amusement, were opened gratuitously that evening by her Majesty's command, and though all were crowded, the arrangements were so excellent that no accident occurred. In the provinces, rejoicing was universal. Public dinners, feasts to the poor, processions, and illuminations were the order of the day. At Liverpool was laid the first stone of St. George's Hall, in presence of a great multitude. At Cambridge 13,000 persons were feasted on one spot, in the open field, called Parker's Piece, in the centre of which was raised an orchestra for 100 musicians, surrounded by a gallery for 1,600 persons. Encircling this centre were three rows of tables for the school children, and from them radiated, like the spokes of a wheel, the main body of the tables, 60 in number, and 25 feet in length. Beyond their outer extremity were added 28 other tables, in a circle; and outside the whole a promenade was roped in for spectators, who were more numerous than those who dined. The circumference of the whole was more than one-third of a mile. Other great towns similarly distinguished themselves.The enthusiasm which now pervaded the whole Italian peninsula was unbounded, and broke forth in frantic expressions of joy and triumph. The days of Continental despotism seemed numbered at last. Everything promised well for the cause of Italian freedom and unity. The Italian troops stationed at Bergamo, Cremona, Brescia, and Rovigo joined the insurgents. The Grand Duke of Tuscany set his troops in motion; the Pope blessed the volunteers; even Naples sent a contingent. The Austrian garrisons had to abandon Padua and several other places, while the great fortress of Verona was held with difficulty. In the south of Italy the cause of despotism seemed to be going down rapidly. Deceived by the promises[583] of the King of Naples, the people of Sicily determined to trust him no longer. In January, 1848, an address to the Sicilians was issued from Palermo, which stated that prayers, pacific protestations and demonstrations had all been treated by Ferdinand with contempt. Palermo would receive with transport every Sicilian who should come armed to sustain the common cause, and establish reformed institutions, "in conformity with the progress and will of Italy and of Pius IX." Property was to be respected, robbery was to be punished as high treason, and whoever was in want would be supplied at the common charge. The king's birthday was kept by unfurling the banner of revolution, and calling the citizens to arms. The royal troops retired into the barracks, the forts, and the palace, leaving the streets and squares in possession of the insurgents. The determination of the Sicilians caused the weak and wavering king, Ferdinand II., to yield; and on the 28th of January a royal decree appeared upon the walls of Naples, granting a Constitution for the Kingdom of the Two Sicilies. Orders were sent the same day to Palermo for the withdrawal of the Neapolitan troops, and an amnesty for political offences soon was published. The troops remained in the garrison, however, and occasional conflicts took place between them and the citizens till the 2nd of May, when an armistice was agreed to, which lasted to the 2nd of August. In the meantime the elections had taken place under the new Constitution, which the king had promulgated; but the Neapolitan Chamber proceeded to modify it, to which the king objected. The people, led on by the National Guard, which had been established, determined to support the Assembly. On the 15th of May, therefore, barricades were erected in the streets, the royal palace was occupied by troops, and artillerymen stood by their guns with lighted matches in their hands. The accidental firing of a gun led to a collision with the Swiss troops; thereupon, a tremendous battle ensued, lasting for eight hours, in which the royal troops were completely victorious. FORE:Scarcely was the Prince married, when he began to complain of his limited income. His father, as Prince of Wales, had been allowed one hundred thousand pounds from the Civil List, which then was only seven hundred thousand pounds, but he now received only fifty thousand pounds from a Civil List of eight hundred thousand pounds. Bolingbroke, two years before, on leaving England, told the prince, as his parting advice, to apply to Parliament, without any regard to the king, for a permanent income of one hundred thousand pounds a year. Under these circumstances, Walpole persuaded the king to send a message to the prince, offering to settle a large jointure on the princess, and to make the prince's own income independent of his father. Here the prince ought to have yielded; if he had been either politic or well-disposed, he would have done so. The king was at this time very ill, and his physicians declared that if he did not alter soon, he could not live a twelvemonth. This circumstance of itself would have touched any young man of the least natural feeling, to say nothing of policy; for, if the king died, there was an end of the question��the prince would be king himself. But he was now in such a temper that he would not listen to the royal proposal; and the next day, the 22nd of February, 1737, Pulteney made his motion in the House of Commons for an address beseeching the king to settle upon the prince a hundred thousand pounds a year, and promising that the House would enable him effectually to do so. What was still stranger, it was seconded by Sir John Barnard. The[68] Commons were not willing to run counter to a prince apparently on the point of ascending the throne, and Walpole would have found himself in a minority had Wyndham, as he hoped, brought the Tories to vote for the prince. But forty-five Jacobites, who could not bring themselves to vote for an heir of the House of Hanover, though they would by that have done a serious mischief to the Hanoverian usurper, as they styled him, rose in a body and quitted the House. On the division, the Ministerial party amounted to two hundred and thirty-four, the Opposition to only two hundred and four��being a majority for Ministers of exactly thirty. The next day the same motion was made in the Lords by Carteret, but was rejected by a large majority��one hundred and three to forty.

THREE: FORE:Ministers were in haste to close and dissolve Parliament in order to call a new one before the very probable demise of the king��for though they had provided that in case of the decease of the queen the Parliament should not reassemble, this did not apply to the decease of the king; and should this take place before the day fixed for the assembling of the new Parliament, the old Parliament��even though formally dissolved��would reassemble: therefore, on the 10th of June��the very day after the passing of the supplementary Alien Bill��the Prince Regent came down to the House of Lords, prorogued Parliament, and then immediately the Lord Chancellor pronounced it dissolved. The members of the Commons were taken by surprise. No such sudden dismissal had taken place since 1625, when Charles I. dismissed his Oxford Parliament after a single week's session. On the return to their own House the Speaker was proceeding, as usual, to read the Royal Speech, but he was reminded by Mr. Tierney that there was no Parliament in existence, and by Lord Castlereagh that, by so doing, he might render himself liable to a Pr?munire, and he therefore desisted and the members withdrew.The action of private benevolence was on a scale proportioned to the vast exertions of the Government. It is quite impossible to estimate the amount of money contributed by the public for the relief of Irish distress. We know what sums were received by associations and committees; but great numbers sent their money directly, in answer to appeals from clergymen and others, to meet demands for relief in their respective localities. In this way we may easily suppose that abuses were committed, and that much of the money received was misappropriated, although the greater portion of it was honestly dispensed. Among the organisations established for raising contributions, the greatest was the British Relief Association, which had for its chairman and vice-chairman two of our merchant princes��Mr. Jones Loyd, afterwards Lord Overstone, and Mr. Thomas Baring. The amount of subscriptions collected by this association, "for the relief of extreme distress in Ireland and Scotland," was ��269,302. The Queen's letters were issued for collections in the churches throughout England and Wales, and these produced ��200,738, which was also entrusted to the British Relief Association. These sums made together no less than ��470,040, which was dispensed in relief by one central committee. One-sixth of the amount was apportioned to the Highlands of Scotland, where there was extensive destitution, and the rest to Ireland. In fact, the amount applied to these objects by the association exceeded half a million sterling, for upwards of ��130,000 had been obtained by the sale of provisions and seed corn in Ireland, and by interest accruing on the money contributed. In administering the funds placed at their disposal, the committee acted concurrently with the Government and the Poor Law authorities. It wisely determined at the outset that all grants should be in food, and not in money; and that no grant should be placed at the disposal of any individual for private distribution. The committee concluded their report to the subscribers by declaring that although evils of greater or less degree must attend every system of gratuitous relief, they were confident that any evils that might have accompanied the application of the funds would have been far more than counterbalanced by the benefits that had been conferred upon their starving fellow-countrymen, and that if ill-desert had sometimes participated in their bounty, a vast amount of human misery and suffering had been relieved.