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FORE:Walpole, however, continued to oppose the South Sea Bill in the Commons, declaring that the terms were too extravagant ever to be fulfilled; that the experiment could result in nothing but a fearful increase of the costs of stockjobbing, and final confusion and ruin. He insisted that, before the proposals of the Company were accepted,[47] the rise of their stock should be limited, and every means taken to prevent the fever of infatuation that would ensue from the promise of dividends out of funds which could never be realised. He proposed for this purpose the introduction of a clause fixing the number of years' purchase to be granted to the annuitants of the South Sea Company; but to this it was objected that it was the interest of the Company to take up the annuities; and, as the annuitants had the power of coming in or not, as they pleased, the Company would, of course, offer advantageous terms, and, therefore, the whole affair might be safely left to private adjustment. Aislabie added that the South Sea Company would not submit to be controlled in an undertaking they were to pay so dear for. The Bill passed both Houses.
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FORE:On the 8th of June the Earl of Liverpool announced to the House of Lords that a Ministry had been formed; that the Prince Regent had been pleased to appoint him First Lord of the Treasury, and to authorise him to complete the Cabinet. Earl Bathurst succeeded Liverpool as Secretary of the Colonies and Secretary at War; Sidmouth became Secretary of the Home Department; the Earl of Harrowby President of the Council; Nicholas Vansittart Chancellor of the Exchequer; Lord Melville, the son of the old late Lord, First Lord of the Admiralty; the Earl of Buckinghamshire President of the Board of Control; Castlereagh Secretary of Foreign Affairs; Mulgrave Master-General of the Ordnance; Eldon Lord Chancellor; Mr. F. Robinson became Vice-President of the Board of Trade and Treasurer of the Navy; Lord Clancarty President of the Board of Trade; Sir Thomas Plumer was made Attorney-General, and Sir William Garrow succeeded him as Solicitor-General. In Ireland, the Duke of Richmond became Lord-Lieutenant; Lord Manners Lord Chancellor; and Mr. Robert Peel, who now first emerged into public notice, Chief Secretary. The Cabinet, thus reconstructed, promised exactly the policy of the late Premier, and, indeed, with increased vigour. On the 17th of June the new Chancellor of the Exchequer introduced the Budgetprofessedly that of Spencer Percevalwhich exceeded the grants of the former year by upwards of six millionsthat having been fifty-six millions twenty-one thousand eight hundred and sixty-nine pounds, this being sixty-two millions three hundred and seventy-six thousand three hundred and forty-eight pounds. New taxes were imposed, and two more loans raised and added to the Debt.
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FORE:The number of distinguished authors on miscellaneous subjects was very great at this time. In jurisprudence and political economy there were Jeremy Bentham, whose life ended in 1832; his eminent disciples, John Stuart Mill, Dr. Bowring, and Dr. Hill Burton; Archbishop Whately, Mr. M'Culloch, Mr. Sadler, and Mr. N. W. Senior. De Quincey began his brilliant career as an author in 1822, by the publication of "The Confessions of an English Opium-Eater."
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The French had always beheld with jealousy our possession of the island of Minorca, which had been won by General Stanhope in 1708, and secured to us by the Peace of Utrecht. That England should possess the finest port in the Mediterranean, and that so near their own shores, was a subject of unceasing chagrin. The miserable administration of British affairs, the constant attention to the interests of Hanover instead of our own, now inspired France with the resolve to snatch the prize from us. Great preparations were made for this object, and the report of these as duly conveyed to the English Ministers by the consuls in both Spain and Italy, but in vain. At length the certainty that the French were about to sail for Minorca burst on the miserable Ministers; but it was too latethey had nothing in readiness. The port of Mahon was almost destitute of a garrison; the governor, Lord Tyrawley, was in England; and the deputy-governor, General Blakeney, though brave, as he had shown himself at the siege of Stirling, was old, nearly disabled by his infirmities, and deficient in troops. What was still worse, all the colonels were absent from the regiments stationed there, and other officers alsoaltogether thirty-five!But this declaration did not issue without a violent debate in Congress, where the moderate party stated that the interests of the country were sacrificed to a mischievous war-spirit, and in the east and north of the States there was raised a loud cry for severance, as there had been in the south when Jefferson laid his embargo on American vessels. They complained that if, as was now alleged, the French Emperor had abrogated his Berlin and Milan Decrees in favour of America as early as the 2nd of March, 1811, why was this not communicated to England before the 20th of May, 1812? And when England had long ago declared that she would rescind her Orders in Council when such a notification could be made to her, accompanied by a repeal of the American non-Intercourse Act; and when she did immediately rescind her Orders in Council on this condition, why should there be all this haste to rush into war with Great Britain? They complained bitterly that though Buonaparte was professed to have abrogated his Decrees as early as November, 1810, he had gone on till just lately in seizing American ships, both in the ports of France and by his cruisers at sea. The State of Massachusetts addressed a strong remonstrance to the Federal Government, in which they represented the infamy of the descendants of the Pilgrim Fathers cooperating with the common enemy of civil liberty to bind other nations in chains, and this at the very moment that the European peoples were uniting for their violated liberties.But the Peace of Vienna was now concluded, and, on the 30th of October, Baron Lichtenthurm appeared in the camp of the Tyrolese, and delivered a letter to the leaders from the Archduke John, requesting them peaceably to disperse, and surrender the country to the Bavarians. This was a terrible blow to these brave men. They appeared prostrated by the news, and Hofer announced to Spechbacher, who was still fighting with the Bavarians, that peace was made with France, and that the Tyrol was forgotten! Hofer returned to his native vale of Passeyr, and still held out against the French, and the Italian mercenaries under Rusca, whom he defeated with great slaughter. But traitors were amongst them, who guided the French to their rear. Hofer escaped into the higher Alps, but thirty of the other leaders were taken and shot without mercy. Another traitor guided the French to Hofer's retreat in the high wintry Alps. He had been earnestly implored to quit the country, but he refused. As the French surrounded his hut, on the 17th of February, 1810, he came out calmly and submitted. He was carried to the fortress of Mantua, and Napoleon sent an order that he should be shot within four-and-twenty hours. He would not suffer himself to be blindfolded, nor would he kneel, but exclaimed"I stand before my Creator, and, standing, I will restore to Him the spirit He gave!" Thus died, on the 20th of February, 1810, the brave Hoferanother murdered man, another victim of the sanguinary vengeance of Buonaparte against whatever was patriotic and independent.
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