TWO:Another dishonourable characteristic of the Ministers of Queen Anne at this period was that they were in secret zealous partisans of the Pretender, and whilst openly professing a sacred maintenance of the Protestant succession, were doing all in their power to undermine it. They had given mortal offence to the Elector George of Hanover, the heir to the Throne, by their treachery to the Allies; and, as the health of the queen was most precarious from her excessive corpulence and gout, which was continually menacing a retreat to her stomach, this was equally a cause for their hastening the peace, however disgracefully, and for paving the way, if possible, for the return of the Pretender at the queen's death. Bolingbroke was the great correspondent with St. Germains, as his letters in the Stuart Papers abundantly show. But Oxford, although always more cunning and mysterious, was equally concerned in it; nor was the queen, if we may believe these remarkable papers, by any means averse from the succession of the Pretender, in spite of his stubborn adhesion to Popery. The Jacobite party was numerous, powerful, and indefatigable. They were in the Ministry and in both Houses of Parliament. At this moment a public appointment was made which filled the Whigs with consternation and rage. This was no other than that of the Duke of Hamiltona supposed partisan of the Pretenderto be Ambassador to the Court of Versailles. Prior was still there, and had all the requisites of a clever and painstaking Envoy; but, being only a commoner and a poet, it did not suit the aristocratic notions of England that he should be accredited Ambassador. Hamilton was appointed, and would thus have had the amplest opportunity of concerting the return of the Stuarts with the base ministers at home. But he was not destined to see Versailles,[9] for, as readers of Thackeray's "Esmond" will remember, he was killed in a duel by Lord Mohun.
FORE:It was at the close of 1719, when George I. returned from Hanover, that this Company proposed to Ministers to consolidate all the funds into one. It was strange that both Ministers and merchants could be deluded by the hope of enriching themselves by a share of the trade with the Spanish South American provinces, when Spain herself, in full enjoyment of them, was sunk into indigence and weakness, and presented the most determined resistance to the unfettered intercourse of any other nation with them. Yet Sir John Blunt, a leading director of the South Sea Company, persuaded the Ministers that by granting the Company power to deal with the public funds, and especially to buy up the unredeemable annuities which had been granted in the two preceding reigns, chiefly on terms of ninety-nine years, and which now amounted to about eight hundred thousand pounds a year, they could, in twenty-six years, pay off the entire National Debt. But, to enable them to do this, they must be empowered to reduce all the different public securities to one aggregate fund in their hands, to convert both redeemable and unredeemable debts into stock by such arrangements as they could make with the holders, and to have certain commercial privileges vested in them. Ministers accepted the proposals with great alacrity. Aislabie introduced the scheme to Parliament in the month of February, 1720, declaring that, if it was accepted by the House, the prosperity of the nation would be amazingly enhanced, and all its debts liquidated in a very few years. Craggs seconded the proposal in most sanguine terms, expressing his conviction that every member of the House must be ready to adopt so advantageous an offer. Ministers had already closed with the proposals of the Company, and they were themselves greatly disconcerted by the suggestion of Mr. Thomas Brodrick, the member for Stockbridge, who expressed his entire accordance with Ministers, but thought that the nation should endeavour to obtain the best terms for itself by opening the competition to every other company or association of men as well as that in question. Ministers were confounded by this proposal, and Aislabie endeavoured to get out of it by declaring that to do this would be like putting the nation up to auction, and that such things should be done with spirit. But Jekyll interposed, saying it was this spirit which had ruined the nation, and it was now requisite to consider seriously what was best for the public. A violent debate ensued, in which Walpole eloquently recommended open competition, and was sharply replied to by Lechmere. The question was carried in favour of competition; and then the Bank of England, which before had coolly declined to enter into the proposals, suddenly appeared in a new temper, and made liberal offers for the privilege of thus farming the public debts. But the South Sea Company was not to be outdone; it offered seven millions and a half, and the Bank gave way in despair.
FORE:Three weeks later she left the post and the West. Landor's health was broken from the effects of the poisonweed and the manifold troubles of the months past. In lieu of sick leave, he was given a desirable detail, and sent on to Washington, and for a year and a half he saw his wife fitted into a woman's seemly sphere. She was heralded as a beauty, and made much[Pg 159] of as such, and the little vanities that had rarely shown before came to the surface now. He was proud of her. Sought after and admired, clothed in purple and scarlet and fine linen, within the limits of a captain's pay, a creature of ultra-civilization, tamed, she was a very charming woman indeed. There seemed to be no hint of the Apache left. He all but forgot it himself. There was but one relapse in all the time, and it chanced that he had no knowledge of that.
FORE:Perhaps! He must have learned that the real gems were not ruined at all, Mr. Whiteside explained.
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