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TWO:On the death of Stanhope, Sir Robert Walpole was left without a rival, and he received his commission of First Lord of the Treasury on the 2nd of April, and from this period down to 1742 he continued to direct the government of Great Britain. His chief anxiety now was to restore the public credit. He drew up, as Chairman of the Committee of the Commons, a report of all that had been lost in the late excitements, and of the measures that had been adopted to remedy the costs incurred. Amongst these were the resolutions of the House respecting the seven and a half millions the directors of the South Sea Company had agreed to pay to Government; more than five had been remitted, and we may add that on the clamorous complaints of the Company the remainder was afterwards remitted too. The forfeited estates had been made to clear off a large amount of encumbrance, the credit of the Company's bonds had been maintained, and thirty-three per cent. of the capital paid to the proprietors. Such were the[49] measures adopted by the Commons, and these being stated in the report to the king, a Bill was brought in embodying them all. Many of the proprietors, however, were not satisfied. They were very willing to forget their own folly and greediness, and charge the blame on the Government. On the second reading of Walpole's Bill they thronged the lobby of the House of Commons. The next day the Bill was carried, and gradually produced quiet; but Walpole himself did not escape without severe animadversions. He was accused of having framed his measures in collusion with the Bank, and with a clear eye to his own interest; but he had been strenuously vindicated from the charge, and on the whole the vigour and boldness with which he encountered the storm and quelled it deserve the highest praise, and may well cover a certain amount of self-interest, from which few Ministers are free.

TWO:The next morning London was thrown into consternation by the announcement of this conspiracy, and by a reward of one thousand pounds being offered in the Gazette for the apprehension of Thistlewood. He was captured before eight o'clock that morning, whilst in bed, at the house of a comrade, in Moorfields. But his arrest did not diminish the wild alarms which not only seized the capital but the country. This was immediately believed to be only the centre of that universal conspiracy of which Government had taken so much pains to propagate an impression. People everywhere were arming for the defence of their own neighbourhoods, and magistrates and yeomanry were turning out by night to keep watch against a surprise, whilst people in town took great care to lock and barricade their houses against the invisible foe. Thistlewood and nine others were put upon their trial on the 13th of April, and, after a trial of three days, he and eight of them were pronounced guilty, and himself and four of the most desperate were condemned to death; the others were sentenced to transportation for life; but one man, who was proved to have been amongst them without being aware of their object, was pardoned. Thistlewood and the four others were executed on the 1st of May. The next day Alderman Wood moved in the House of Commons for an inquiry into the conduct of Edwards, but it was rejected by a large majority. On the 19th he again returned to the subject, and supported his motion by producing depositions from many persons brought before him as a magistrate, demonstrating, in the plainest manner, that Edwards had recommended to them the murder of Ministers and the destruction of Parliament, had furnished plans for these objects, and had done all in his power to seduce needy men into these measures. He proved, also, from the same depositions, that Edwards himself had been living for six weeks in great affluence in the house of a schoolmaster in St. George's Street, Hanover Square, who was not aware of the occupation of Edwards till the wretch himself informed him of it. Alderman Wood called on Parliament to act on this unquestionable evidence, and purge itself of any sanction of such disgraceful transactions. But Ministers again resisted all inquiry, and their friends openly defended them in the use of such means, even ridiculing Alderman Wood, and those who supported his motion, for supposing that Lord Sidmouth would proceed against Edwards through any depositions furnished by magistrates. The motion was, of course, thrown out.