THREE:Their cannon was both inferior and worse served than that of the English; and when, at one o'clock, the duke began to play on their ranks with his artillery, he made dreadful havoc amongst them. Several times the Highlanders endeavoured to make one of their impetuous rushes, running forward with loud cries, brandishing their swords and firing their pistols; but the steady fire of the English cannon mowed them down and beat them off. Seeing, however, a more determined appearance of a rush, Colonel Belford began to charge with grape shot. This repelled them for a time; but at length, after an hour's cannonade, the Macintoshes succeeded in reaching the first line of the English. Firing their muskets, and then flinging them down, they burst, sword in hand, on Burrel's regiment, and cut their way through it. The second line, however, consisting of Sempill's regiment, received them with a murderous fire. Cumberland had ordered the first rank to kneel down, the second to lean forward, and the third to fire over their heads. By this means, such a terrible triple volley was given them as destroyed them almost en masse. Those left alive, however, with all their ancient fury, continued to hew at[107] Sempill's regiment; but Cumberland had ordered his men not to charge with their bayonets straight before them, but each to thrust at the man fronting his right-hand man. By this means his adversary's target covered him where he was open to the left, and his adversary's right was open to him. This new man?uvre greatly surprised the Highlanders, and made fearful havoc of them. From four to five hundred of them fell between the two lines of the English army. Whilst the Macintoshes were thus immolating themselves on the English bayonets, the Macdonalds on their left stood in sullen inaction, thus abandoning their duty and their unfortunate countrymen from resentment at their post of honour on the right having been denied them. At length, ashamed of their own conduct, they discharged their muskets, and drew their broadswords for a rush; but the Macintoshes were now flying, and the grape-shot and musket-shot came so thickly in their faces, that they, too, turned and gave way. Whilst Charles stood, watching the rout of his army to the right, he called frantically to those who fled wildly by to stand and renew the fight. At this moment Lord Elcho spurred up to him, and urged him to put himself at the head of the yet unbroken left, and make a desperate charge to retrieve the fortune of the day; but the officers around him declared that such a charge was hopeless, and could only lead the men to certain slaughter, and prevent the chance of collecting the scattered troops for a future effort. Though he did not attempt to resist the victorious enemy, which was now hopeless, he seems to have lingered, as if confounded, on the spot, till O'Sullivan and Sheridan, each seizing a rein of his bridle, forced him from the field.

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THREE:In the course of this commercial madness the imports greatly exceeded the exports, and there was consequently a rapid drain of specie from the country. The drain of bullion from the Bank of England was immense. In August, 1823, it had ��12,658,240, which in August, 1825, was reduced to ��3,634,320, and before the end of the year it ran as low as ��1,027,000. Between July, 1824, and August, 1825, twelve millions of cash were exported from Great Britain, chiefly to South America. During the Revolutionary war, which had lasted for fourteen years, the capital of the country had been completely exhausted, while all productive labour had been abandoned. The unworked mines were filled with water. They were accessible, it is true, to English speculators, but they were worked exclusively with English capital. The South American mining companies were so many conduits through which a rapid stream of gold flowed from Great Britain. The catastrophe that followed took the commercial world by surprise; even the Chancellor of the Exchequer failed to anticipate the disaster. On the contrary, his Budget of 1825 was based upon the most sanguine expectations for the future, and on the assurance that the public prosperity was the very reverse of what was ephemeral and peculiar, and that it arose from something inherent in the nation. Even at the prorogation of Parliament in July, the Royal Speech referred to the "great and growing" prosperity on which his Majesty had the happiness of congratulating the country at the beginning of the Session. The commercial crisis, however, with widespread ruin in its train, was fast coming upon Britain. Vast importations, intended to meet an undiminished demand at high prices, glutted all the markets, and caused prices to fall rapidly. Merchants sought accommodation from their bankers to meet pressing liabilities, that they might be enabled to hold over their goods till prices rallied. This accommodation the bankers were unable to afford, and sales were therefore effected at a ruinous loss. The South American mines, it was found, could not be worked at a profit, and they made no return for the twenty million pounds of British money which they had swallowed up. The effect was a sudden contraction of the currency, and a general stoppage of banking accommodation. The country banks, whose issues had risen to ��14,000,000, were run upon till their specie was exhausted, and many of them were obliged to stop payment. The Plymouth Bank was the first to fail, and in the next three weeks seventy banks followed in rapid succession. The London houses were besieged from morning to night by clamorous crowds, all demanding gold for their notes. Consternation spread through all classes. There was a universal pressure of creditors upon debtors, the banks that survived being themselves upon the edge of the precipice; and the Bank of England itself, pushed to the last extremity, peremptorily refused accommodation even to their best customers. Persons worth one hundred thousand pounds could not command one hundred pounds; money seemed to have taken to itself wings and fled away, reducing a state of society in the highest degree artificial almost to the condition of primitive barbarism, which led Mr. Huskisson to exclaim, "We were within twenty-four hours of barter."

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THREE:The death of the Princess Charlotte left the prospect of the succession to the Crown equally serious. Of the numerous sons and daughters of George III. not one had legitimate issue. It might be necessary soon to look abroad in Germany or in Denmark for an heir to the Crown. This consideration led to a number of royal marriages during the earlier part of this year. The first of these marriages was not of this description. It was that of the Princess Elizabeth, his Majesty's third daughter, to the Landgrave and Hereditary Prince of Hesse-Homburg, on the 7th of April. As the princess was already nearly eight-and-forty, no expectation of issue in that quarter was entertained. On the 13th of April Lord Liverpool brought down a message from the Regent to the Peers, and Lord Castlereagh to the Commons, announcing treaties of marriage in progress between the Duke of Clarence and the Princess Adelaide Louisa, of Saxe-Meiningen; and also between the Duke of Cambridge and the Princess Augusta Wilhelmina, of Hesse, youngest daughter of the Landgrave of Hesse. The House of Commons was also asked to add an additional ten thousand pounds a year to the allowance of the Duke of Clarence, and six thousand pounds a year each to those of the Dukes of Cumberland and Cambridge, and to that of the Duke of Kent,[136] if he, too, should marry. Ministers intimated that it had been the intention to ask much larger sums, but they found that it was necessary to reduce the sum asked for the Duke of Clarence. It was a matter of notoriety that the duke had already a large family by the actress, Mrs. Jordan, and probably the feeling of the House was influenced by his desertion of that lady; but there was a stout opposition and the sum was reduced to six thousand pounds. Loud acclamations followed the carrying of this amendment, and Lord Castlereagh rose and said, after the refusal of the sum asked, he believed he might say that the negotiation for the marriage might be considered at an end. The next day the duke sent a message declining the sum granted; yet, after all, his marriage took place. The Duke of Cumberland was already married to the Princess Frederica Sophia, the daughter of the Duke of Mecklenburg-Strelitz, who had been divorced from Frederick Louis, Prince of Prussia. The Duke of Cumberland was one of the most unpopular men in the whole kingdom, for there were rumours of very dark passages in his life, and Parliament had rejected an application for an additional allowance on his marriage; and it now rejected this application amid much applause. The sum asked for the Duke of Cambridge was carried, but not without considerable opposition. The spirit of reform was in the air.

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