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FORE:Lord John Russell was immediately summoned from Scotland, and on the 11th arrived at Osborne, where he received her Majesty's commands to form a Government. On the ground that his party were in a minority in the House of Commons, Lord John Russell at first declined the honour presented to him; but on a paper being placed in his hands by the Queen, in which Sir Robert Peel promised, in his private capacity, to aid and give every support to the new Ministry in settling the question of the Corn Laws, he undertook the task. There was no amicable feeling between the new and the retiring Minister. Lord John Russell's letter, published a few days before, had excited as much attention for its bitter sarcasm against Sir Robert Peel as for the important change in the Whig policy which it announced. Lord John Russell held communication with the late Government, but through Sir James Graham. It was of importance to him to know more clearly the nature of that support which Sir Robert Peel's memorandum seemed to promise; and he was, therefore, anxious to know what the latter would consider a satisfactory settlement. This proposal, however, to the late Minister to become responsible for the measures of his successors was declined. Sir James Graham communicated to Lord John Russell the information as to the state of the country on which they acted; but Sir Robert Peel, through his colleague, declined to state the details of the measures which had lately been contemplated. Lord John Russell then gave, in writing, an outline of the measures which the new Cabinet would propose, and invited the opinion of the late Minister. Sir Robert Peel, however, still declined to take part in the plans of his opponents; and in a letter to the Queen, on the 17th of December, he stated the constitutional grounds on which he considered it improper that any one, not an adviser of the Crown, should take a part in the preparation of Ministerial measures. Lord John Russell thereupon immediately proceeded with his negotiations with his own party. It soon, however, appeared that the task he had proposed to himself was beyond his power. Earl Grey, who had agreed to take the Secretaryship of the Colonies in the new Ministry, suddenly declared that he would not join any Administration in which Lord Palmerston should hold the office of Secretary for Foreign Affairs. This unexpected accident was regarded by Lord John Russell as decisive. On the 20th of December he communicated the facts to the Queen, and begged to be relieved from the task he had undertaken.
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On the 25th of November Parliament was opened, and the king, in his speech, made a strong appeal to the country for support against the unprovoked war on the part of France and Spain. The Marquis of Rockingham, in proposing an amendment on the Address in the Lords, was extremely severe. He concluded by moving that every part of the Address, except the title, should be expunged, and that, instead of what then stood, a prayer should be inserted that his Majesty would reflect on the extent of territory which marked the opening of his reign, the opulence and power, the reputation abroad, the concord at home, to which he had succeeded, and now on the endangered, impoverished, enfeebled, distracted, and even dismembered, state of the whole, after the enormous grants of his successive Parliaments, and calling on him, as the only[262] remedy of impending ruin, to dismiss his present evil councillors, and summon new and more auspicious ones. The language was crushing, but it derived its force from its undeniable truth. Lord John Cavendish moved a similar amendment in the Commons; and the Opposition declared that it was well that his Majesty's speech expressed trust in Divine Providence, for Providence was the only friend that his Government had now left; and that our arms, both on sea and land, were paralysed by the scandalous practice of putting at the head of the army and navy mere Court favourites, and by the want of all vigour and sagacity of planning and following up our campaigns. Fox went further, and asserted that weakness and stupidity could not effect the wholesale shame and ruin that surrounded us; that there must be treachery somewhere; and that, if this were driven a little further, the people would seize on arms, and chase the miserable Cabinet from its abused seat. Lord North made the best reply that the circumstances admitted; but there were no symptoms of the Ministers resigning, or being removed by the infatuated monarch, and the amendments were rejected in both Houses, as a matter of course.No wonder that pressing entreaties for succour came from Jelalabad. The garrison had exerted themselves with the utmost diligence to fortify the place, which they expected soon to be invested by hosts of Afghans, flushed with victory and thirsting for blood and plunder. The camp-followers were organised to assist in manning the walls, and foraging parties were sent out with good effect, while there was yet time to get in provisions. In the meanwhile Sale received a letter from the Shah, demanding what were his intentions, as his people had concluded a treaty with the Afghans, consenting to leave the country. There was an army preparing for their expulsion, and there were many of their countrymen and countrywomen hostages in the hands of a fanatical and vindictive enemy, while there was little prospect of any immediate relief from the Indian Government. There was even a feeling that they had been abandoned by the Government at Calcutta, which did not wish to maintain the supremacy of the British arms in Afghanistan. A council of war was called on the 26th of January; a stormy debate ensued; the majority were for coming to terms with the enemy and withdrawing from the country, for which purpose the draft of a letter in reply to the Shah was prepared. For two days its terms were debated, the proposition to surrender being vehemently resisted by an officer named Broadfoot, who declared it impossible that the Government should leave them to their fate, and do nothing to restore the national reputation, especially as a new Governor-General was coming out, doubtless with new counsels, and the Duke of Wellington, now in power, would never sanction so inglorious a policy. He was overruled, however, by the majority, and the letter was sent to the Shah. An answer came demanding that they should put their seals to the document. Another council was held; Colonel Broadfoot renewed his remonstrances; he was joined by Colonel Dennie, Captain Abbott, and Colonel Monteith. An answer was sent which left the garrison free to act as circumstances might direct. Next day tidings came from Peshawar, that large reinforcements were moving up through the Punjab, and that all possible efforts were to be made for their relief. There was no more talk of negotiation; every one felt that it was his duty to hold out to the last.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:The agitation which the queen underwent on the night of the 27th, when she dismissed Oxford after a long and fierce altercation, produced a marked change in her health. The Council was only terminated, having sat to consider who should be admitted into the new Ministry, by the queen falling into a swoon. Being got to bed, she passed the night, not in sleep, but in weeping. The next day another Council was held, but was again broken up by the illness of the queen, and was prorogued to the 29th of July. To Dr. Arbuthnot, her physician, Anne declared that the disputes of her Ministers had killed her; that she should never survive it. Lady Masham, struck by the queen's heavy and silent manner, apprehended the worst. Bolingbroke and his Jacobite colleagues were thunderstruck by this sudden crisis. They assembled in council at Kensington, in a room not far from that of the dying queen, but they were so stupefied by the blow that they could do nothing. On the other hand, the Whigs had been quite alert. Stanhope had made preparations to seize the Tower; to secure the persons of the Ministers and the leading Jacobites, if necessary, on the demise of the queen; to obtain possession of the outports, and proclaim the king. A proof of this concert was immediately given by the Dukes of Argyll and Somerset, who belonged to the Privy Council, but, of course, had not been summoned, suddenly entering the Council chamber, stating that, hearing of the queen's critical position, they had hastened, though not summoned, to offer their assistance. No sooner had they said this, than the Duke of Shrewsbury rose and thanked them for their courtesy. The Whig dukes immediately demanded that the queen's physicians should be called and examined as to her probable continuance. The physicians in general were of opinion that her Majesty might linger some time; but Dr. Mead declared that she could not live many days, perhaps not many hours; from the apoplectic symptoms she might be gone in one. Argyll and Somerset thereupon declared it absolutely necessary that the post of Lord Treasurer should be filled up, as it was requisite that, at such a moment, there should be a recognised Prime Minister, and proposed that the Duke of Shrewsbury should be nominated to that office. Bolingbroke felt that his power and his plans were at an end, and sat like one in a dream. The members of the Council then proceeded to the queen's apartment, and Bolingbroke followed them, as it were, mechanically. The queen was sensible enough to be made aware of their errand, and expressed her approval of it. Shrewsbury, however, with that singular hesitation which always characterised him, refused to take the White Staff, except from her Majesty's own hand. It was, therefore, handed to her, and she extended it towards Shrewsbury, saying, "For God's sake, use it for the good of my people!" Shrewsbury was already Chamberlain, and he presented the staff of that office in resignation of it; but the queen bade him retain both; and thus he was at once Lord Treasurer, Lord Chamberlain, and Lord-Lieutenant of Ireland. Rt. Hon. Lodge Morris, made a peer.
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