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Jeff decided that Dick had the right idea. Peaceful Accession of George I.His ArrivalTriumph of the WhigsDissolution and General ElectionThe AddressDetermination to Impeach the late MinistersFlight of Bolingbroke and OrmondeImpeachment of OxfordThe Riot ActThe Rebellion of 1715Policy of the Regent OrleansSurrender of the Pretender's ShipsThe Adventures of Ormonde and MarThe Highlands declare for the PretenderMar and ArgyllAdvance of Mackintosh's DetachmentIts Surrender at PrestonBattle of SheriffmuirArrival of the PretenderMutual DisappointmentAdvance of ArgyllFlight of the Pretender to FrancePunishment of the RebelsImpeachment of the Rebel LordsThe Septennial ActThe King goes to HanoverImpossibility of Reconstructing the Grand AllianceNegotiations with FranceDanger of Hanover from Charles XII.And from RussiaAlarm from TownshendTermination of the DisputeFresh Differences between Stanhope and TownshendDismissal of the LatterThe Triple AllianceProject for the Invasion of ScotlandDetection of the PlotDismissal of Townshend and WalpoleThey go into OppositionWalpole's Financial SchemeAttack on CadoganTrial of OxfordCardinal AlberoniOutbreak of Hostilities between Austria and SpainOccupation of SardiniaAlberoni's DiplomacyThe Quadruple AllianceByng in the MediterraneanAlberoni deserted by SavoyDeath of Charles XII.Declaration of War with SpainRepeal of the Schism ActRejection of the Peerage BillAttempted Invasion of BritainDismissal of AlberoniSpain makes PeacePacification of Northern EuropeFinal Rejection of the Peerage BillThe South Sea CompanyThe South Sea BillOpposition of WalpoleRise of South Sea StockRival CompaniesDeath of StanhopePunishment of Ministry and DirectorsSupremacy of WalpoleAtterbury's PlotHis Banishment and the Return of BolingbrokeRejection of Bolingbroke's ServicesA Palace IntrigueFall of CarteretWood's HalfpenceDisturbances in ScotlandPunishment of the Lord Chancellor MacclesfieldThe Patriot PartyComplications AbroadTreaty of ViennaTreaty of HanoverActivity of the JacobitesFalls of Ripperda and of BourbonEnglish PreparationsFolly of the EmperorAttack on GibraltarPreliminaries of PeaceIntrigues against WalpoleDeath of George I.
ONE:The South Sea Company, with a folly of which extreme greed only is capable, endeavoured to put down these rival schemes and obtained an order from the Lords Justices and writs of scire facias against several of these new bubbles. It was like raising a wind to blow away the bubbles, forgetting that their own was a bubble too, and would go with them. The moment that the people began to distrust one they distrusted all. The panic became as great as the mania had been. The South Sea stock dropped in less than a month from one thousand to below six hundred. There was a simultaneous rush to sell out, and the shares must have sunk instantly to nil but for the gigantic exertions of the Company to raise money and buy in. The relief, however, was but temporary. The bankers and pawnbrokers who had advanced money on scrip broke and fled; merchants, goldsmiths, and speculators rushed away after them. Walpole was summoned in haste from Haughton to devise some means of staying the panic. He endeavoured to get the Bank of England to circulate three millions of South Sea bonds for a year; but the Bank, seeing that the case was desperate, declined it. This was decisive. The rage and despair of the swarming dupes were indescribable. They heaped[48] execrations not only on the South Sea Company, but on Ministers, the king, his mistresses, and the Royal Family, who had all been deep in the affair, and who had taken good care of themselves. George landed at Margate on the 9th of November, soon after which the South Sea stock fell to one hundred and thirty-five. On the 8th of December Parliament met, and promptly began to investigate the scandal.
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Had this Bill been frankly accepted by Ministers, it would have gone far to heal the rupture between the mother country and her colonies. The Earl of Dartmouth, the Secretary of State for the Colonies, proposed that the Bill should lie on the table for deliberation. The Duke of Grafton complained of the manner in which the Bill had been hurried into the House, and, as Chatham in his reply observed, showed every disposition to hurry it as quickly out again. The friends of the Duke of Bedford, who had joined the administration, exhibited the most rancorous disposition towards America. The chief of these, Lord Sandwich, declared that he never could believe this Bill was the work of any British peer, but rather of an American, and he looked full at Dr. Franklin, who was leaning on the bar. He declared the Americans to be in actual rebellion; that they were not troubling themselves about mere words and nice distinctions; that they were aiming at independence, and nothing else. The Bedford party carried the day, and the Bill was rejected by sixty-one votes against thirty-two.But the baby was satisfactory. She amused it by the hour. For the rest, being far from gregarious, and in no way given to spending all the morning on some one else's front porch, and all the afternoon with some one else upon her own, she drew on the post library and read, or else sat and watched the mountains with their sharp, changing shadows by day, and their Indian signal flashes by night,which did not tend to enhance the small degree of popularity she enjoyed among the post women.Fortunately, the princess was safely delivered at St. James's (June 4), though the house was unprepared for such an emergencythe rooms and beds being unaired, and there being no adequate suite of servants. The moment that the king heard of this extraordinary conduct of the prince, he despatched Walpole and Lord Harrington to attend the birth, but they were too late. After that the king repulsed all the prince's advances towards a reconciliation. Frederick betook himself to Norfolk House, St. James's Square, and there all the opponents of his father's Government collected around him. The prince was now the head and centre of the Opposition himself.Before they had reached the post, he had learned a good deal about her. The elderly major who had come with her from Kansas told him that a lieutenant by the name of Brewster was insanely in love with her, that the same Brewster was a good deal of an ass,the two facts having no connection, however,that she was an excellent travelling companion, always satisfied and always well. What the major did not tell him, but what he gathered almost at once, was that the girl had not endeared herself to any one; she was neither loved nor dislikedthe lieutenant's infatuation was not to be taken as an indication of her character, of course. But then she was beautiful, with her long, intent eyes, and strong brows and features cut on classic lines of perfection. So Landor left the major and cantered ahead to join her, where she rode with Brewster.
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