TWO:The Bute Ministry was now in power, and determined on reversing the policy of Pittpolicy which had added so magnificently to the territory[172] and glory of the country. Bute had now to seek powerful connections to enable him to carry on. The commonplace man seeks to make up for his feebleness by associating with him, not men of merit, but men of aristocratic connection. For this reason he conferred the Privy Seal on the Duke of Bedford, and the Seal of Secretary on the Earl of Egremont. To break the force of popular indignation for the loss of Pitt from the helmfor the people knew who was the great man and successful minister well enoughthe king was advised to confer some distinguished mark of favour on Pitt. He was offered the government of Canada as a sinecure, with five thousand pounds a year. Pitt was not the man to undertake a highly responsible office without discharging the duties, and he was next offered the Chancellorship of the Duchy of Lancaster; but he preferred a simple pension of three thousand pounds a-year, and that a title should be conferred on his wife. By this arrangement he was left in the House of Commons, and in a position to continue his exertions for the country. Both these suggestions were complied with.
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THREE:[366]Before Walpole thus threw off the mask of moderationindeed, on the very day of his resignationhe introduced a well-matured scheme for the reduction of the National Debt, which was, in fact, the earliest germ of the National Sinking Fund. Though the ordinary rate of interest had been reduced, by the statute of the 12th of Queen Anne, to five per cent., the interest on the funded debt remained upwards of seven. The Long and Short Annuities were unredeemable, and could not be touched without the consent of the proprietors; but Walpole proposed to borrow six hundred thousand pounds at only four per cent., and to apply all savings to the discharge of the debts contracted before December, 1716. He proposed, also, to make some arrangement with the Bank and the South Sea Company, by which the Bank should lend two millions and a half, and the Company two millions, at five per cent., to pay off such holders of redeemable debts as should refuse to accept an equal reduction.
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THREE:But it had to be a pilot who did all the things we have evidence of, Dick.This branch of the rebel force was thus completely removed from the field, and on the same day a far more sanguinary conflict had taken place between the chief commanders on the two sides, Argyll and Mar, at Sheriffmuir.
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THREE:Dick turned on Jeff.As to the other changes in the Ministry, Sir Dudley Ryder being advanced to the bench, Murray succeeded him as Attorney-General. Lord Chancellor Hardwicke was made an earl; Sir George Lyttelton and George Grenville, friends of Pitt, had placesone as Treasurer of the Navy, the other as cofferer. Pitt himself, who was suffering from his great enemy, the gout, at Bath, was passed over. No sooner did he meet with Fox in the House of Commons, than he said aloud, "Sir Thomas Robinson lead us! Newcastle might as well send his jack-boot to lead us!" No sooner did the unfortunate Sir Thomas open his mouth, than Pitt fell with crushing sarcasm upon him; and Fox completed his confusion by pretending to excuse him on account of his twenty years' absence abroad, and his consequent utter ignorance of all matters before the House. Soon after, Pitt made a most overwhelming speech, on the occasion of a petition against the return of a Government candidate by bribery, and called on Whigs of all sections to come forward and defend the liberties of the country, unless, he said, "you will degenerate into a little assembly, serving no other purpose than to register the arbitrary edicts of one too powerful subject!" This was a blow at Newcastle, which, coming from a colleague in office, made both him and his puppets in the Commons, Legge and Robinson, tremble. Newcastle saw clearly that he must soon dismount Robinson from his dangerous altitude, and give the place to Fox.
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