ONE:
TWO:Mr. Vansittart introduced some financial measures which effected a material saving. He proposed a plan for reducing the interest of the Navy Five per Cents. to four per cent. Holders not signifying their dissent were to have one hundred and five pounds in a New Four per Cent. stock, and persons dissenting were to be paid off in numerical order. By this scheme an annual saving to the public of one million one hundred and forty thousand pounds would be effected; besides a further saving of upwards of ninety thousand pounds of annual charge, which would be gained by similar reduction of the Irish Five per Cents. The high prices of the public funds obviated all difficulty in the execution of this financial operation, and the holders of the Five per Cent. stock found it expedient to acquiesce in the Minister's terms. The dissentients were in number only one thousand seven hundred and seventy-eight, and the stock held by them amounted to two million six hundred and fifteen thousand nine hundred and seventy-eight pounds, not a fifteenth part of the Five per Cent. capital. Another operation related to what was called "The Dead Weight Annuity." The amount of military and naval pensions and civil supernumeraries was about five millions annually. Accordingly Mr. Vansittart brought forward an amended scheme for relieving the immediate pressure of this dead weight by extending it over a longer term of years than the natural lives of the annuitants. For this purpose an annuity of two million eight hundred thousand pounds was appropriated out of the existing revenue for forty-five years, invested in trustees for the discharge of the then payments, which for that year were estimated at four million nine hundred thousand pounds, subject to a yearly diminution by deaths. It was computed that, according to the ordinary duration of human life, the annuities for the lives of the then holders would be equal to the annuity of two million eight hundred thousand pounds for forty-five years. The trustees were therefore empowered to sell from time to time such portions of this annuity as would provide the funds required for the payment of the dead weight, according to a computation made of the amount which would probably be due in each year. The Bank of England became the contractor for a portion of the annuity. There was no novelty of principle in the project; it was only the old one of anticipating distant resources by throwing the burden of the existing generation on the next. It had the further disadvantage of incurring a useless expense for management; whereas the Sinking Fund, amounting at the time to about five millions, might have been applied to existing exigencies, and a real saving effected.During the interval that elapsed between the opening of Parliament and the introduction of this measure, society was in a state of nervous anxiety and suspense, which became at length almost unbearable. Petitions poured into the House of Commons from every part of the United Kingdom, conveying the earnest desire of the people for a real representation, which would put an end to the influence of the aristocracy in returning its members. They recommended, as the best means of effecting these objects, that the duration of Parliament should be shortened, that the suffrage should be extended, and that elections should be by ballot. They expressed their conviction that a fair representation of the people would prevent manufacturing distress, commercial embarrassment, and violent fluctuations in the currency; that it would prevent unjust and unnecessary wars, and would restrain the profligate expenditure of the public money on placemen and pensioners. Itinerant orators were employed by the political unions to hold meetings for the discussion of all questions of this kind, while the press put forth its gigantic power with tremendous effect, in the provinces as well as in the metropolis.
ONE:On the declaration of war, Buonaparte resorted to a proceeding that had never been practised before, and which excited the most violent indignation in England. He ordered the detention of British subjects then in France, as prisoners of war. Talleyrand previously assured some British travellers, who applied to him for information, that they had nothing to fear; that their persons would be safe under the protection of a Government which, unlike that of Britain, observed the laws of nations, and Buonaparte caused his well-known agent, Louis Goldsmith, the editor of a French paper, the Argus, published in London, to insert the same assurance in that journal. Thus thrown off their guard, all the British in France were seized by authority of a proclamation of the 22nd of May. Numbers of these were families and individuals not resident in France, but merely hurrying home from Italy, Switzerland, etc. They numbered some 12,000, and were kept confined till the close of the wars. The pretext was the capture of two ships before war was declared, but they were not captured until the Ambassadors had withdrawn, or until an embargo had been laid by Napoleon on British shipping.Spain having now, most fatally for herself, been persuaded to join France in the war with England, turned her first attention to Gibraltar which she hoped France would enable her to conquer. But France showed no disposition to assist her to regain Gibraltar. At the same time, the great object was to accomplish the union of the French and Spanish fleets, which they deemed must then be invincible, and not only drive the English from the seas, but enable them to land in England itself. The French managed to muster fifty thousand men, whom they marched to the different ports on the Channel, from Havre to St. Malo. By this means, keeping England in fear of an invasion, their fleet slipped out of Brest on the 3rd of June, under the command of D'Orvilliers, and effected the desired junction with the Spaniards at Cadiz. The French fleet consisted of thirty sail of the line; the Spanish, of thirty-eight; making the united fleet sixty-eight sail, besides numerous frigates and smaller vessels. Never, since the days of the Armada, had such a mighty squadron threatened the shores of Great Britain.
TWO:The plan of a very liberal constitution was discussed for several days, and ultimately adopted. It is unnecessary here to describe in detail the principles of a constitution so short-lived. One of those principles led to its speedy destruction. It was, that the President of the Republic should be chosen, not by the Assembly, but by the nation at large. This was a very extraordinary course for the Assembly to take, because they must have known that Louis Napoleon would be elected by universal suffrage; whereas their own choice would have fallen upon Cavaignac. The following was the result of the voting:Louis Napoleon, 5,434,226; Cavaignac, 1,448,107; Ledru Rollin, 370,119; Raspail, 36,900; Lamartine, 17,910; Changarnier, 4,790; votes lost, 12,600. On the 20th of December Prince Napoleon was proclaimed President of the French Republic, in the National Assembly, by the President, M. Marrast, and took the oath required by the Constitution.The king, in the first instance, applied to Lord Shelburne to form a Ministry; but he was bound by engagements to Wentworth House, and honourably refused to take the lead. George then tried Lord Gower as ineffectually, and so was compelled to send for Lord Rockingham, who accepted office, on the condition that peace should be made with America, including the acknowledgment of its independence, if unavoidable; administrative reform, on the basis of Mr. Burke's three Bills; and the expulsion of contractors from Parliament, and revenue officers from the exercise of the elective franchise. The king stood strongly on the retention of Lord Chancellor Thurlow and Lord Stormont in their offices. Rockingham, with reluctance, conceded the retention of Thurlow, but refused that of Stormont. The choice of Lord Rockingham was such as could only have been made where family influence and party cliques had more weight than the proper object of a Ministerthe able management of national affairs. Rockingham, though a very honourable man, was never a man of any ability, and though now only[288] fifty-two, his health and faculties, such as they were, were fast failing. Besides this, there was a violent jealousy between him and Lord Shelburne, who became his colleague, and brought in half of the Cabinet. The shape which the Ministry eventually assumed was this:Lord Rockingham became First Lord of the Treasury and Premier; the Earl of Shelburne and Charles Fox, Secretaries of State; Thurlow, Lord Chancellor; Camden, notwithstanding his age, President of the Council; Duke of Grafton, Privy Seal; Lord John Cavendish, Chancellor of the Exchequer; Keppelmade a viscountFirst Lord of the Admiralty; General Conway, Commander of the Forces; the Duke of Richmond, Master-General of Ordnance; Dunningas Lord AshburtonChancellor of the Duchy of Lancaster. Burke was not admitted to the Cabinet, for the Whigs were too great sticklers for birth and family; but his indispensable ability insured him the Paymastership of the Forcesby far the most lucrative office in the hands of Government, but the salary of which he was pledged to reduce by his Bill. Pitt was offered a place as Lord of the Treasury; but he had already declared, on the 8th of March, on the debate on Lord John Cavendish's motion, that he would never accept a subordinate situation. Dundas remained in office, as Lord Advocate, and John Lee was made Solicitor-General. Such was the new Administration: it embraced, as leaders, five Rockinghamites and five Shelburnites. The eleventh member of the Cabinet, Thurlow, belonged to neither side, but was the king's man. Fox saw himself in office with him with great repugnance, and Burke felt the slight put upon him in excluding him from the Cabinet.
