ONE:After the flight from Ballingarry, and the desertion of his followers, Smith O'Brien abandoned the cause in despair, and concealed himself for several days among the peasantry in a miserable state of mind. He had none of the qualities of a rebel chief, and he had not at all calculated the exigencies of the position that he had so rashly and criminally assumed, involving the necessity of wholesale plunder and sanguinary civil strife, from which his nature shrank. Besides, he soon found that the people would not trust a Protestant leader, and that there was, after all, no magic in the name of O'Brien for a Roman Catholic community. But to the honour of the peasantry it should be spoken, that though many of them were then on the verge of starvation, not one of them yielded to the temptation of large rewards to betray him or his fugitive colleagues, and several of them ran the risk of transportation by giving them shelter. In these circumstances, on the 5th of August, Mr. O'Brien walked from his hiding-place in Keeper Mountain into Thurles, where he arrived about eight o'clock in the evening. He[570] went immediately to the railway station to procure a ticket for Limerick. On the platform there were seventeen constables in plain clothes, who did not know him; but a railway guard named Hulme, an Englishman, recognised him, and tapping him on the shoulder, he presented a pistol at him and said, "You are the Queen's prisoner." A strong escort of police was immediately procured, and the prisoner was conveyed in a special train to Dublin, where he was lodged in Kilmainham gaol.
TWO:Sir John Moore entered Spain under the impression that several brave and victorious Spanish armies were to co-operate with him; but he looked in vain for any such armies. Nay, on the very day of his arrival at Salamanca he heard of the defeat of the Count de Belvedere, near Burgos; and only two days afterwards that general had also been defeated at Espinosa, on the frontiers of the province of Biscay. He demanded from the Junta to know with whom he was to co-operate for the conduct of the campaign, and he was referred to Casta?os. But Casta?os had already lost the confidence of the proud and ignorant Junta, and had little information to give. On the 15th of November the governor of the province announced to him that the French had taken possession of Valladolid, only twenty leagues from Salamanca; from the dormant Mr. Frere he heard nothing. This was startling intelligence; for he had only a small portion of his army yet with him. Sir David Baird was still struggling with the obstructive junta at Corunna, and Sir John Hope was wandering near Madrid with the artillery. Moore began to have a very gloomy idea of the situation, not only of Spain, but of his situation in it. He wrote that there was no unity of action; no care of the juntas to promote it, or to furnish arms and clothing to the soldiers; that he was in no correspondence with the generals of the other armies, and knew neither their plans nor those of the Government. He declared that the provinces around him were not armed; and as for the national enthusiasm of which so much had been said, that he saw not a trace of it; that, in short, the British had no business there; but he would still try to do something, if possible, for the country, since he was there.
ONE:The chiefs of the Tory party were at this time sanguine in their expectation of being speedily called to office. Their hopes were founded mainly upon the dissensions that were known to exist in the Cabinet. These dissensions were first revealed by O'Connell's motion for a committee to inquire into the conduct of Baron Smith, when presiding as a judge in criminal cases, and especially with reference to a charge addressed by him to the grand jury of Dublin, in which he said: "For the last two years I have seldom lost an opportunity for making some monitory observations from the Bench. When the critical and lawless situation of the country did not seem to be generally and fully understood, I sounded the tocsin and pointed out the ambuscade. Subsequent events deplorably proved that I had given no false alarm. The audacity of factious leaders increased from the seeming impunity which was allowed them; the progress of that sedition which they encouraged augmented in the same proportion, till on this state of things came, at length, the Coercion Bill at once to arrest the mischief, and consummate the proof of its existence and extent." As there was no doubt that these shafts were aimed at O'Connell, this last charge afforded him a fair opportunity of putting a stop to the abuse by bringing the conduct of the talented but eccentric judge before Parliament; for, as there was no political case in the calendar, there was no excuse for the attack. Mr. Littleton declared it impossible to refuse his consent to the motion. Mr. Stanley, Lord Althorp, and Lord John Russell expressed a similar view. Sir James Graham briefly but warmly dissented from his colleagues. He had come down to the House with the understanding that they meant to oppose the motion. He for one still retained his opinion, and had seen no reason to change it. As one who valued the independence of the judges and his own character, he must declare that if the motion were carried, and if, as its result, an Address was presented to the Crown for the removal of Baron Smith, it would be a highly inexpedientnay, more, a most unjust proceeding. The present would be the most painful vote he had ever given, since he felt it incumbent upon him to sever himself from those friends with whom during a public life of some duration he had had the honour of acting; but feeling as he did the proposition to be one dangerous in itself, he conceived he would be betraying the trust committed to him if he did not declare against it. Baron Smith was ably defended by Mr. Shaw, by Sir J. Scarlett, and Sir Robert Peel. On a division, the motion for a committee of inquiry was carried by 167 to 74, Sir James Graham and Mr. Spring-Rice voting in the minority. Next morning Sir James tendered his resignation as First Lord of the Admiralty, which was declined, and in the following week the vote was rescinded by a majority of six.
TWO:[See larger version]Notwithstanding these addresses and the confident tone of the Queen's Speech, the Funds fell, and there was general dissatisfaction at the conditions of the proposed pacification. In order to stimulate the proceedings and excite a jealousy of the Dutch, St. John professed to discover that they were themselves secretly negotiating with France, and urged that, if we did not take care, they would have the management of the negotiations and not her Majesty. Lord Strafford hastened back to the Hague, and from thence to Utrecht, where he proposed a cessation of arms, which was rejected by the Allies. He then went on to the army, where the Duke of Ormonde was in a situation of the utmost difficulty. He had received orders from Government, in consequence of the clamour in Parliament, to support Prince Eugene at the siege of Quesnoy, which he had invested on the 8th of June, and accordingly he had appeared before the place with such forces as threatened speedily to reduce it. At the same time he had received from the Marquis de Torcy a copy of the articles of peace signed by him, and from the Marquis of Villars the most bitter remonstrances on his conduct, which he did not hesitate to declare most perfidious and disgraceful. On the other hand, Prince Eugene, who did not find the English forces, notwithstanding their presence, rendering any active service, was equally irritated by his proceedings. Ormonde could but reply to each party that such were his orders, and leave the Government to bear the ignominy of it. To extricate themselves from the just censures on this dishonourable policy, St. John instructed Ormonde to demand from Villars the surrender of Dunkirk, which, it was asserted, must be put into the hands of the queen's troops, as a pledge that France would perform all that she had promised, before there could be a cessation of hostilities.
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TWO: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:
