THREE:
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THREE:The opposition, however, was powerful. When Mr. Goulburn brought forward his resolution by which sugar certified to be the growth of China, Manila, Java, or other countries where no slave labour was employed, should be admitted at a duty of 34s., the colonial duty being 24s., the danger of the position of the Ministers was soon perceived. Lord John Russell proposed an amendment in favour of admitting all foreign sugars at 34s., a proposal which, though calculated to maintain the price of sugar at a higher point than the Government proposition, was less distasteful to the Free Traders, as abolishing the differential principle. This amendment was rejected by a majority of only 69. On the 14th of June the Government Bill came on for a third reading, and[513] the contest then began in earnest. Mr. Miles, the representative of the West India party, moved an amendment proposing a reduction of the duty on colonial sugar to 20s., instead of 24s., and the raising of the duties on foreign to 30s. and 34s. The Free Trade party were not entrapped by this offer of a reduction of 4s. on colonial sugar. They saw that Mr. Miles's amendment would only establish a differential duty of 14s. instead of 10s., the difference going to the West India planters. They now, moreover, at least hoped more from Sir Robert Peel than from any Minister likely to succeed him. Mr. Cobden and the League party therefore supported the Government; but so powerful was the combination against them that the division, which took place on the 14th of June, left Ministers in a minority of 20.
But this denouncing pleasure and praising

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THREE:The winter of 1836-7 was marked by great commercial activity, and a strong tendency to over-trading, chiefly on the part of the banks. The result was a reaction, and considerable monetary embarrassment. In the reckless spirit of enterprise which led to these consequences, the American houses took the lead. The American speculators indulged an inordinate thirst for gain by land jobs, and over-trading in British produce. The most remarkable examples of this were afforded by three great American houses in London, called "the three W.'s." From an account of these firms, published in June, 1837, it appeared that the amount of bills payable by them from June to December, was as follows: Wilson and Co.,[411] ��936,300; Wigan and Co., ��674,700; Wildes and Co., ��505,000; total acceptances, ��2,116,000. This was upwards of one-sixth of the aggregate circulation of the private and joint-stock banks of England and Wales, and about one-eighth of the average circulation of the Bank of England. The shipments to America by Wigan and Co. amounted to ��1,118,900. The number of joint-stock banks that started into existence at this time was remarkable. From 1825 to 1833 only thirty joint-stock banks had been established. In that year the Charter of the Bank of England being renewed, without many of the exclusive privileges it formerly enjoyed, and the spirit of commercial enterprise being active, joint-stock banks began to increase rapidly. There was an average of ten new companies annually, till 1836, when forty-five of these establishments came into existence in the course of ten months. In Ireland there were ten started in the course of two years. The consequence of this greatly increased banking accommodation produced a wild spirit of commercial adventure, which collapsed first in America, where the monetary confusion was unexampled��bankers, importers, merchants, traders, and the Government having been all flung into a chaos of bankruptcy and insolvency. This state of things in America had an immediate effect in England. Discounts were abruptly refused to the largest and hitherto most respectable houses of Liverpool and London. Trade, in consequence, became paralysed; prices suddenly dropped from thirty to forty per cent.; and the numerous share bubbles��the railway projects, the insurance companies, the distillery companies, the cemetery companies, the sperm oil, the cotton twist, zoological gardens, and other speculations��which had floated on the pecuniary tide, all suddenly collapsed, and there was an end to the career of unprincipled adventurers. It is satisfactory, however, to observe that the sound commerce of the country soon recovered the shock thus given; and in less than two years the pecuniary difficulties had passed away. Commerce had resumed its wonted activity, and flowed steadily in legitimate channels. The American banks resumed payment, and the three great American houses, which had involved themselves to such an enormous extent, were enabled to meet all their liabilities.Pitt was not for a moment deceived, and in August the Family Compact was signed. He broke off the negotiation, recalled Stanley from Paris, dismissed Bussy from London, and advised an immediate declaration of war against Spain, whilst it was yet in our power to seize the treasure ships. But there was but one Pitt��one great mind capable of grasping the affairs of a nation, and of seizing on the deciding circumstances with the promptness essential to effect. The usually timid Newcastle became suddenly courageous with alarm. Bute pronounced Pitt's proposal as "rash and unadvisable;" the king, obstinate as was his tendency, declared that, if his Ministers had yielded to such a policy, he would not; and Pitt, having laboured in vain to move this stolid mass of ministerial imbecility through three Cabinet Councils, at last, in the beginning of October, declared that, as he was called to the Ministry by the people, and held himself responsible to them, he would no longer occupy a position the duties of which he was not able to discharge. On the 5th he resigned, and his great Ministry came to an end.
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THREE:Such was Massena's situation, so early as the commencement of November��having to maintain his army in a country reduced to a foodless desert by the art of his masterly antagonist, and, instead of being able to drive the British before him, finding them menacing him on all sides, so that he dispatched General Foy to make his way with a strong escort to Ciudad Rodrigo, and thence to proceed with all speed to Paris, to explain to the Emperor the real state of affairs. The state was that the whole of Portugal, except the very ground on which Massena was encamped, was in possession of the British and the Portuguese. There was no possibility of approaching Lisbon without forcing these lines at Torres Vedras, and that, if done at all, must be at the cost of as large an army as he possessed altogether. All the rest of Portugal��Oporto, Coimbra, Abrantes��and all the forts except Almeida were in the hands of the enemy. As to the destitution of Massena's army, we have the description from his own statements in letters to Napoleon, which were intercepted. From this information, Lord Wellington wrote in his dispatches: "It is impossible to describe the pecuniary and other distresses of the French army in the Peninsula. All the troops are months in arrears of pay; they are, in general, very badly clothed; they want horses, carriages, and equipments of every description; their troops subsist solely upon plunder; they receive no money, or scarcely any, from France, and they realise but little from their pecuniary contributions from Spain. Indeed, I have lately discovered that the expense of the pay and the hospitals alone of the French army in the Peninsula amounts to more than the sum stated in the financial expos�� as the whole expense of the entire French army."It was high time that some measures were taken for preventing clandestine marriages. Nothing could be so loose as the marriage laws, or so scandalous as the practice regarding marriages at this date. No previous public notice or publication of banns was hitherto required, nor was any license requisite. Any clergyman, though of the most infamous character, could perform the ceremony at any time or place, without consent of parents or guardians. The consequence was, that the strangest and most scandalous unions took place, for which there was no remedy, and the results of which were lives of misery and disgrace. The merest children were inveigled into such connections, and the heirs of noble estates were thus entrapped into the most repulsive alliances, and made the victims of the most rapacious and unprincipled of mankind. The Fleet Prison, where were many ruined parsons��ruined by their crimes and low habits��was a grand mart for such marriages. A fellow of the name of Keith had[116] acquired great pre-eminence in this line. He used to marry, on an average, six thousand couples every year; and on the news of this Bill, which would stop his trade, he vowed vengeance on the bishops, declaring that he would buy a piece of ground and out-bury them all!

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