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The distress which had pressed so severely on the people, and which had set them thinking about the most perilous political changes, was intimately connected with the state of the country. Throughout the troubled period of almost incessant war and lavish expenditure between 1797 and 1815, the business of the nation was carried on with an inconvertible paper currency, the precious metals having nearly all departed from the country. Bank notes were issued in such quantities, to meet the exigencies of the Government, that the prices of all commodities were nearly doubled. The Bill which was passed in 1819 providing for the resumption of cash payments had reduced the currency from 48,278,070, which was its amount in 1819, to 26,588,000, in 1822. The consequence was the reduction of prices in the meantime, at the rate of fifty per cent., in all the articles of production and commerce. With this tremendous fall of prices, the amount of liabilities remained unchanged; rents, taxes, and encumbrances were to be paid according to the letter of the contract, while the produce and commoditiesthe sale of which was relied upon to pay themdid not produce more than half the amount that they would have brought at the time of the contracts. The evil of this sudden change was aggravated by the South American Revolution, in consequence of which the annual supply of the precious metals was reduced to a third of its former amount. It was peculiarly unfortunate that this stoppage in the supply of gold and silver occurred at the very time that the Legislature had adopted the principle that paper currency should be regarded as strictly representing gold, and should be at any moment convertible into sovereigns. A paper currency should never be allowed[238] to exceed the available property which it represents, but it is not necessary that its equivalent in gold should be lying idle in the coffers of the Bank, ready to be paid out at any moment the public should be seized with a foolish panic. It is enough that the credit of the State should be pledged for the value of the notes, and that credit should not be strained beyond the resources at its command. The close of 1822 formed the turning-point in the industrial condition of the country. The extreme cheapness of provisions, after three years of comparative privation, enabled those engaged in manufacturing pursuits to purchase many commodities which they had hitherto not been able to afford. This caused a gradual revival of trade, which was greatly stimulated by the opening of new markets for our goods, especially in South America, to which our exports were nearly trebled in value between 1818 and 1823, when the independence of the South American Republics had been established. The confidence of the commercial world was reassured by the conviction that South America would prove an unfailing Dorado for the supply of the precious metals. The bankers, therefore, became more accommodating; the spirit of enterprise again took possession of the national mind, and there was a general expansion of industry by means of a freer use of capital, which gave employment and contentment to the people. This effect was materially promoted by the Small Note Bill which was passed in July, 1822, extending for ten years longer the period during which small notes were to be issued; its termination having been fixed by Peel's Bill for 1823. The average of bank-notes in circulation in 1822 was 17,862,890. In November of the following year it had increased by nearly two millions. The effect of this extension of the small note circulation upon prices was remarkable. Wheat rose from 38s. to 52s., and in 1824 it mounted up to 64s. In the meantime the bullion in the Bank of England increased so much that whereas in 1819 it had been only 3,595,360, in January, 1824, it amounted to 14,200,000. The effect of all these causes combined was the commencement of a reign of national prosperity, which burst upon the country like a brilliant morning sun, chasing away the chilling fogs of despondency, and dissipating the gloom in the popular mind.

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The crossing of the Beresina, in the circumstances, was a desperate design, but there was no alternative but surrender. Tchitchagoff was posted with his army on the opposite or left bank; Wittgenstein and Platoff were pressing down to join them; and Kutusoff, with the grand army of Russia, was in the rear, able, if he could have been induced to do it, to drive Buonaparte and his twelve thousand men into the Beresina, and destroy them. After reconnoitring the river Napoleon determined to deceive Tchitchagoff by a feint at passing at Borissov, but really to make the attempt at Studienka, above Borissov. He therefore kept up a show of preparations to cross at Borissov, but got ready two bridges at Studienka, one for the artillery and baggage, the other for the troops and miscellaneous multitude. At this juncture he was joined by Victor and Oudinot with their fifty thousand men well provided with everything. Thus he was now possessed of sixty-two thousand men besides stragglers; and his design of deceiving Tchitchagoff succeeding so completely that the latter withdrew his whole force from opposite to Studienka and concentrated it at Borissov, he began on the 26th of November to cross the river, and had a strong force already over before Tchitchagoff discovered his error and came back to attack him. So far all went so well that Buonaparte again boasted of his star.
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TWO:Calder had been sent after Nelson, with the hope that, if he missed Villeneuve and Gravina, he (Calder) might fall in with and intercept them. Scarcely was he under sail, when he discovered this fleet, on the 22nd of July, about thirty-nine leagues north-west of Cape Finisterre. Villeneuve and Gravina were congratulating themselves on having made their voyage in safety, when this British squadron stood in their way. They were twenty sail of the line, seven frigates, and two brigs; and Calder had only fifteen sail of the line, two frigates, and two smaller craft. The Spanish and French admirals endeavoured to give them the slip, and get into Ferrol; but Calder would not permit this. He compelled them to fight, and the battle lasted from half-past four in the afternoon till half-past nine in the evening. Calder captured two sail of the line, and killed and wounded between five hundred and six hundred men. He himself lost thirty-nine killed, and he had a hundred and fifty-nine wounded, and his ships, some of them, had suffered much damage. A thick fog parted the combatants for the night, and at daybreak the hostile fleets were distant from each other about seventeen miles. Villeneuve had the wind, and made as if he would renew the battle, but did not; and the same happened on the following day, when he sheered off, and Calder turned homewards without pursuing them. This action, though a victory, was regarded, both in France and England, as inferior to what was expected of British naval commanders. The French claimed a success; the English public murmured at Calder's conduct. They said, "What would Nelson have done had he been there?" Such was the popular discontent, that Sir Robert Calder demanded that his conduct should be submitted to a court-martial, and the verdict of the court confirmed the outcry:"This court," it said, "are of opinion that on the part of Admiral Sir Robert Calder there was no cowardice or disaffection, but error in judgment, for which he deserves to be severely reprimanded, and he is hereby severely reprimanded accordingly."[510] Buonaparte, however, was greatly exasperated at the result, and at Villeneuve putting into Ferrol instead of getting into Brest, where Napoleon wanted him to join the rest of the fleet. After this, endeavouring to obey the Emperor's positive orders to reach Brest, he put to sea, but was glad to run for Cadiz instead, on account of the union of Admiral Collingwood with Calder's fleet. In that harbour now lay five-and-thirty sail of the line, and Collingwood kept watch over them. Indeed, being soon reinforced, he kept a blockade on all the Spanish ports between Cadiz and Algeciras, in the Strait of Gibraltar. It was at this juncture that Napoleon came to the conclusion that it was hopeless to attempt the invasion of England.But though Pitt protested against thanking the king for bringing over Hanoverian troops, he found it necessary to support the king's German treaties and alliances, which were avowedly for the defence of Hanover. Fox reminded him of his favourite phrase, that Hanover was a millstone round the neck of England; but it was not the first time that Pitt had had to stand the taunt of eating his own words, and he braved it out, especially voting two hundred thousand pounds to Frederick of Prussia. A wonderful revolution in Continental politics had now converted this long-hostile nephew of George II. into an ally, if not a friend. More info
TWO:Admirable as was the character of Caroline, she has been accused of retaining her resentment against her son to the last. Pope and Chesterfield affirm that she died refusing to see or forgive her son; but Ford, though he says she would not see him, states that she "heartily forgave him"; and Horace Walpole says she not only forgave him, but would have seen him, but that she feared to irritate her husband. To Sir Robert Walpole she expressed her earnest hope that he would continue to serve the king as faithfully as he had done, and, curiously enough, recommended the king to him, not him to the king. She died on the 20th of November, perhaps more lamented by Walpole than by her own husband (though, as Lord Hervey tells us, George was bitterly affected), for Walpole well knew how much her strong sense and superior feeling had tended to keep the king right, which he could not hope for when she was gone. The king appeared to lament her loss considerably for a time, that is, till consoled by his mistress, the Countess of Walmoden, whom he had kept for a long time at Hanover, and now soon brought over to England. He sent for her picture when she was dead, shut himself up with it some hours, and declared, on reappearing, that he never knew the woman worthy to buckle her shoe. More info
TWO:CARLTON HOUSE, LONDON (1812).The Lord High Commissioner immediately proceeded on his great mission, and after a tedious voyage landed at Quebec on the 29th of May. He took with him, as his private secretary, Mr. Charles Buller, a man of singular ability, an ardent friend of free institutions, gifted with a large mind and generous sympathies, and a spirit that rose superior to all party considerations. A more suitable man could scarcely have been found for such a work. But he also took out with him Mr. Turton and Mr. Gibbon Wakefield, men of ability but hopelessly damaged in character. He promptly proceeded to dismiss his Council and to select another of five who had no acquaintance with Canadian politics. He found on his arrival 116 state prisoners, whose trial had been postponed, awaiting his instructions. On the 28th of June the Lord High Commissioner published an ordinance, in which it was stated that Wolfred Nelson, and seven other persons therein named, had acknowledged their guilt, and submitted themselves to her Majesty's pleasure; that Papineau, with fifteen others, had absconded. The former were sentenced to be transported to Bermuda during pleasure, there to be submitted to such restraints as might be thought fit; the latter, if they should return to Canada, were to be put to death without further trial. In each of these cases an unfortunate error was committed. The Lord High Commissioner had no legal authority out of Canada, and could not order the detention of any one at Bermuda; and to doom men to be put to death without further trial, was denounced in Parliament, by Lord Brougham and others, as unconstitutional. Lord Brougham described it as "an appalling fact." Such a proceeding, he said, was "contrary to every principle of justice, and was opposed to the genius and spirit of English law, which humanely supposed every accused party to be innocent until he was proved to be guilty." His reasons for the course he had adopted were given by Lord Durham, in a despatch to the Home Secretary, dated June 29th. The British party, he said, did not require sanguinary punishment; but they desired security for the future, and the certainty that the returning tranquillity of the province would not be arrested by the machinations of the ringleaders of rebellion, either there or in the United States. He said: "I did not think it right to transport these persons to a convict colony, for two reasons; first, because it was affixing a character of moral infamy on their acts, which public opinion did not sanction; and, secondly, because I hold it to be impolitic to force on the colony itself persons who would be looked on in the light of political martyrs, and thus acquire perhaps a degree of influence which might be applied to evil uses in a community composed of such dangerous elements." More info
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THREE:The next day the Great Mogul went over to the stronger party. He had no further hope of assistance from Sujah Dowlah, and so he rode, with a few followers, to the British camp. He was received most willingly, for, though the British had shown no disposition to recognise his authority, now he was in their hands they acknowledged him as the rightful sovereign of Hindostan, and lost no time in concluding a treaty with him; and, on condition of his yielding certain territories to them, they agreed to put him in possession of Allahabad and the other states of the Nabob of Oude. After this, Munro continuing the war against Sujah Dowlah, endeavoured to take the hill fort of Chunar, in which all the treasures of Cossim were said to be deposited, but failed. On his part, Sujah Dowlah had obtained the assistance of Holkar, a powerful Mahratta chief, and, with this advantage, endeavoured to make a better peace with Munro; but that officer declined treating, unless Cossim and the assassin, Sombre, were first given up to[318] him. Dowlah proposed, instead of this surrender of those who had sought his protection, the usually triumphant argument with the English, a large sum of money. But Munro replied that all the lacs of rupees in Dowlah's treasury would not satisfy him without the surrender of the murderers of his countrymen at Patna. Dowlah, though he would not surrender the fugitives, had no objection to give a secret order for the assassination of Sombre; but Munro equally spurned this base proposal, and the war went on. Munro was victorious, and early in 1765, having reduced the fort of Chunar and scattered Dowlah's army, he entered Allahabad in triumph, and put the Mogul in possession of it.

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THREE:In the Commons, Mr. Spencer Compton, the Ministerial nominee, was elected Speaker. The king opened his first Parliament in person, but, being unable to speak English, he handed his speech to Lord Chancellor Cowper to read. In the Commons the Address condemned in strong language the shameful peace which had been made after a war carried on at such vast expense, and attended with such unparalleled successes; but expressed a hope that, as this dishonour could not with justice be imputed to the nation, through his Majesty's wisdom and the faithful endeavours of the Commons the reputation of the kingdom might in due time be vindicated and restored. This was the first announcement of the Ministers' intention to call their predecessors to account, and Secretary Stanhope, in the course of the debate, confirmed it, observing that it had been industriously circulated that the present Ministers never designed to bring the late Ministers to trial, but only to pass a general censure on them; but he assured the House that, though active efforts had been used to prevent[27] a discovery of the late treasonable proceedings, by conveying away papers from the Secretaries' offices, yet Government had sufficient evidence to enable them to bring to justice the most corrupt Ministry that ever sat at the helm. Before three weeks were over a secret committee was appointed to consider the Treaty of Utrecht.

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THREE:But though Pitt protested against thanking the king for bringing over Hanoverian troops, he found it necessary to support the king's German treaties and alliances, which were avowedly for the defence of Hanover. Fox reminded him of his favourite phrase, that Hanover was a millstone round the neck of England; but it was not the first time that Pitt had had to stand the taunt of eating his own words, and he braved it out, especially voting two hundred thousand pounds to Frederick of Prussia. A wonderful revolution in Continental politics had now converted this long-hostile nephew of George II. into an ally, if not a friend.

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THREE:GREAT SEAL OF WILLIAM IV.

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TWO:

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THREE:Numbers of persons fled from the different towns to the frontiers of Holland, trade became stagnant, manufactories stood empty; the whole country began to assume a melancholy and ruinous aspect. Many of the refugees, formed into revolutionary clubs by French emissaries, were prepared not merely to oppose Joseph's despotism, but all monarchical government whatever. A powerful body of these placed themselves under the leadership of Van der Noot, a lawyer, who assumed the title of plenipotentiary agent of the people of Brabant; and of Van der Mersch, an officer who had served in the Seven Years' War, who was made their commander-in-chief. These two men were in league with the new Assembly of Breda, and issued their proclamations. These Trautmansdorff caused to be burnt by the executioner. The patriots in Brussels who sympathised with those in arms were, many of them, arrested; the citizens were disarmed, the fortifications strengthened by palisades, and every means of defence was resorted to.

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THREE:The retreat of George to Hanover was not merely to enjoy his native scenes and old associations; he felt himself insecure even on the throne of England, and the rebellion for the present quelled; he was anxious to form or renew alliances on the Continent to give strength to his position. The part which England had taken at the end of the war seemed to have alienated all her confederates of the Grand Alliance, and transferred their resentment to himself with his accession to the British Crown. Holland was, perhaps, the least sensible of the past discords; she had kept the treaty, and lent her aid on the landing of the Pretender; but she was at daggers drawn with Austria, who was much irritated by the Barrier Treaty, by which the Dutch secured a line of fortresses on the Austrian Netherlands. As for the Emperor, he was more feeble and sluggish than he had shown himself as the aspirant to the throne of Spain. He was a bigoted Catholic, little disposed to trouble himself for securing a Protestant succession, although it had expended much money and blood in defence of his own. On the contrary, he felt a strong jealousy of George, the Elector of Hanover, as King of England, and therefore capable of introducing, through his augmented resources, aggressive disturbances in Germany. The King of Prussia, his son-in-law, was rather a troublesome and wrangling ally than one to be depended upon.

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TWO:In 1734 England was the witness of war raging in different parts of Europe without having any concern in it, generally known as the War of the Polish Succession. A sharp Parliamentary campaign had been conducted at home. The Opposition talked loudly of the lamentable and calamitous situation of England, because she was wise enough to keep out of the war. Their motions were all guided by the secret hand of Bolingbroke, whose restless and rancorous mind could not brook that partial obscurity to which he was doomed by the immovable spirit of Walpole. But the grand attack was on the Septennial Act. This was a delicate subject for the Whigs in Opposition, for they, and Pulteney especially, had, in 1716, supported this Act with many specious arguments. But Wyndham led the way again with amazing eloquence, and discharged a philippic against Walpole of such ruthless and scathing vigour, as must have annihilated a less adamantine man.A great raid of reform was made in the Opposition, and it fell first on the corruption of the boroughs, both in Scotland and England. The subject was brought on, as it were, incidentally. An Enclosure Bill, affecting some parts of the New Forest, Hampshire, was attacked, as a job intended to benefit Pitt's staunch supporter, George Rose, who had rapidly risen from an obscure origin to the post of Secretary to the Treasury. Rose had a house and small estate in the Forest, and there was a universal outcry, both in Parliament and in the public press, that, in addition to the many sinecures of the fortunate Rose, there was also a sop intended for him at the cost of the Crown lands. The reformers were successful in casting much blame on Ministers, and they followed it up by charging Rose with bribing one Thomas Smith, a publican in Westminster, to procure votes for the Ministerial candidate, Lord Hood. Though the motion for a committee of the House to inquire into the particulars of this case was defeated, yet the debates turned the attention of the country on the scandalous bribery going on in boroughs. The Scots, the countrymen of Rose, petitioned for an inquiry into the condition of their boroughs. Of the sixty-six boroughs, petitions for such inquiry came from fifty. They complained that the members and magistrates of those corporations were self-elected, and by these means the rights and property of the inhabitants were grievously invaded.

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[194]It was proposed also to form, in certain districts, relief committees, which should be empowered to receive subscriptions, levy rates, and take charge of donations from the Government; and that out of the fund thus raised they should establish soup kitchens, and deliver rations to the famishing inhabitants. Sir John Burgoyne, Inspector-General of Fortifications, was appointed to superintend the works. Lord John Russell referred to measures for draining and reclaiming waste land in Ireland, and to advances of money for this purpose to the proprietors, to be repaid in instalments spread over a number of years. On a subsequent day, in answer to questions from Mr. Roebuck, the noble lord gave a statement of the sums that had already been advanced. 2,000,000 had been issued on account of the Poor Employment Act of the last Session. He expected that not less than 500,000 or 600,000 a month would be spent from the present time until August, and he calculated the whole expenditure would not be less than 7,000,000. There was great difference of opinion on the subject of the Government plans. A counter-scheme for the establishment of reproductive works deserves to be noticed for the interest it excited and the attention it occupied for years afterwardsnamely, the railway plan of Lord George Bentinck. Acts of Parliament, he said, had been passed for 1,582 miles of railway in Ireland, of which only 123 miles had then been completed, while 2,600 miles had been completed in England. In order to encourage the formation of Irish railways, therefore, he proposed that for every 100 expended by the companies 200 should be lent by the Government at the same interest at which they borrowed the money, Mr. Hudson, who was "chairman of 1,700 miles of railroad," pledging his credit that the Government would not lose a shilling by the transaction. By adopting this plan they could give reproductive employment to 109,000 men in different parts of the country, for earth-works, fences, drains, and watercourses connected with the lines. This would give support of 550,000 souls on useful work, tend to develop the resources of the country, and produce such improvement that the railways constructed would add 23,000,000 to the value of landed property in twenty-five years, and would pay 22,500 a year to the poor rates. The purchase of land for the railways would moreover place 1,250,000 in the hands of Irish proprietors, for the employment of fresh labour, and 240,000 in the hands of the occupying tenants for their own purposes. The Government also would reap from the expenditure of 24,000,000 on railways in Ireland, an enormous increase of revenue in the augmented consumption of articles of excise and customs. The noble lord's speech, which lasted two hours and a half, was received with cheers from both sides of the House. Leave was given to bring in the Bill, though it was strongly objected to by Lord John Russell, Mr. Labouchere, and other members of the Government. It was also opposed by Sir Robert Peel, who exposed the unsoundness of the economic principles involved in it. The Bill was rejected by a majority of 204, the numbers being 118 for the second reading, and 322 against it. Notwithstanding this decision, loans were subsequently advanced to certain Irish railways, amounting to 620,000, so that the objection of the Government was more to the extent than to the principle of Lord George Bentinck's measure.The Americans did not make their Declaration of Independence till they had communicated with France. The British Government, as Lord North publicly declared in Parliament, had long heard of American emissaries at Paris seeking aid there. A secret committee, which had Thomas Paine for its secretary, was appointed to correspond with the friends of America in Great Britain, Ireland, and other parts of the world. Encouraged by the assurances of France, the secret committee was soon converted into a public one, and agents were sent off to almost every court of Europe to invite aid of one kind or another against the mother country, not omitting even Spain, Naples, Holland and Russia. Silas Deane was dispatched to Paris in March of this year, to announce the growing certainty of a total separation of the colonies from Great Britain, and to solicit the promised co-operation.
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