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Elsewhere, however, Lord Palmerston abstained from interference, particularly in Germany. The immense phlegmatic mass of the Teutonic populationamounting to 43,000,000, spread over 246,000 square miles, and divided into thirty-five sovereign Stateswas powerfully moved by the shock of the French Revolution. Those States existed under every form of government, from absolutism to democracy. They were all united into a Bund or Confederation, the object of which was the maintenance of the independence of Germany, and of its several States. The Confederation consisted of a Diet, composed of the plenipotentiaries of all the States. This Diet was no bad emblem of the German mind and characterfruitful in speculation, free in thought, boundless in utterance, but without strength of will or power of action. The freer spirits demanded more liberal forms of government, and on these being refused, the Revolution broke out in Baden, Hesse-Cassel, and Bavaria. In Saxony the monarchy was saved by bending before the storm of revolution: a new Administration was appointed, which at once issued a programme of policy so liberal that the people were satisfied. Even the King of Hanover yielded to the revolutionary pressure, and called to his councils M. Hub, a Liberal deputy, who had been imprisoned several years for resisting an unconstitutional act of the Crown. On the 20th of March he issued a proclamation, in which he stated that, in compliance with the many representations addressed to him, he had abolished the censorship of the press, granted an amnesty and restoration of rights to all who had been condemned for political offences, and was willing to submit to changes in the Constitution, based upon the responsibility of Ministers to the country. It was not without necessity that such appeals were addressed to the German people. At Frankfort, while the Assembly were occupied in framing a brand-new Constitution, the Republican party in the Chamber appealed out of doors to the passions of the multitude, and excited them to such a pitch that barricades were erected, and the red flag planted in the streets. By midnight the struggle was over, and tranquillity everywhere restored through the exertions of the military.

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Sir Henry Clinton had for some time been aware of the real destination of the united forces of Washington and Rochambeau. He must have seen that there was a determined resolve to crush, by the most powerful combination of American and French forces, the army in the south, and every exertion should have been made by him, with fleet and army, to release Cornwallis from his peril. But, instead of sending direct reinforcements to Cornwallis, and ordering the fleet to engage the enemy's attention, and, if possible, defeat De Grasse in the Chesapeake, he concocted a diversion in Connecticut with Arnold, which he fondly hoped would recall Washington. Sir Henry Clinton contemplated further expeditionsfirst against the Rhode Island fleet, and next against Philadelphia; but these never came off, and matters were now every day assuming such an aspect as should have stimulated him to some direct assistance to Cornwallis.The fire raged with unabated fury from the 14th till the 19thfive days. Then the city lay a heap of burning ashes. All the wealth which was left behind was burnt or melted down. But there could be no stay at Moscow, for all their provisions had to be brought from distant districts by water carriage in summer, and on sledges in winter. But, as the Russian population had fled, the Russians were only too glad to starve out the French. Not a single article of food came near the place. Alexander returned no answer to Buonaparte's letter. The pledge which he might have made some concessions to redeem had been destroyed by his own orders, and Buonaparte had now nothing to offer worthy of his attention. He and his army were awaiting the attack of the wintry elements to join them in the extermination of the invaders. Buonaparte dispatched General Lauriston to Alexander with fresh offers; but Alexander refused to see him, and turned him over to Kutusoff, who flattered him with hopes and professions of desire for peace, in order to put off the time, for every day nearer to winter was a[48] day gained of incalculable importance. But he said that he must send Napoleon's letter to St. Petersburg, to the Czar, and await his reply. This was on the 6th of October, and the reply could not be received before the 26th; there was nothing for it but to wait, and Lauriston waiteda fatal delay for the French!Whilst these operations were going on the British blockading squadrons rode in every American port and completely obstructed all commerce. Their vessels ascended many of the rivers, especially the Chesapeake and its tributaries. At the end of June Sir S. Beckwith landed, from the squadron of Admiral Cockburn, at Hampton, in Virginia, where the Americans had a fortified camp, and drove them out of it, and captured all their batteries. In the following month Admiral Cockburn visited the coasts of North Carolina and seized the islands, towns, and ports of Portsmouth and Ocracoke. The complaints of the Americans of the miseries of this state of blockade began very unpleasantly to reach the ears of President Madison.
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< The year 1800 opened in the British Parliament by a debate on an Address to the king, approving of the reply to an overture for peace by Buonaparte, as First Consul of France. The letter addressed directly to the king was a grave breach of diplomatic etiquette, and was answered by Lord Grenville, the Secretary for Foreign Affairs, in a caustic but dignified tone. A correspondence ensued between Lord Grenville and M. Talleyrand, as French Minister for Foreign Affairs; but it ended in nothing, as the British Minister distinctly declined to treat. If Buonaparte had been sincerely desirous of peace, he must have withdrawn the French army from Egypt, as it was there with the open declaration of an intention to make that country a stepping-stone to India. But, so far from this, Buonaparte was, at the same moment, preparing to make fresh and still more overwhelming invasions of Italy, Switzerland, and Germany, and the proposal was simply made to gain time.[See larger version]The English now began to contemplate taking the Cape of Good Hope from the Dutch. General Johnstone was dispatched in April with five ships of the line, some frigates, and smaller vessels, having on board General Medows and three regiments for this purpose; but encountering Admiral Suffren in the way, after an indecisive action, Johnstone fell in with and took a Dutch East Indiaman of great value, and learned through it that Suffren had managed to reach the Cape and give the alarm, and that the Cape was put into strong defence. Johnstone, therefore, made for Saldanha Bay, where he learned that a number of other Dutch East Indiamen were lying. Four of these he secured; the rest were run ashore by their commanders and burnt. During the autumn both Dutch and French suffered much from the British on the coasts of Coromandel and the island of Sumatra. They also took from the Dutch Negapatam, Penang, and other places.It might have been supposed that Europe, or at least the southern portion of it, was likely to enjoy a considerable term of peace. France, under a minor and a Regent, appeared to require rest to recruit its population and finances more than any part of the Continent. The King of Spain was too imbecile to have any martial ambition; and though his wife was anxious to secure the succession to the French throne in case of the death of the infant Louis XV., yet Alberoni, the Prime Minister, was desirous to remain at peace. This able Churchman, who had risen from the lowest position, being the son of a working gardener, and had made his way to his present eminence partly by his abilities and partly by his readiness to forget the gravity of the clerical character for the pleasure of his patrons, was now zealously exerting himself to restore the condition of Spain. He was thus brought into collision with Austria and France, and eventually with this country to which at first he was well disposed. England was under engagement both to France and the Empire, which must, on the first rupture with either of those Powers and Spain, precipitate her into war. The treaty with the Emperoras it guaranteed the retention of the Italian provinces, which Spain beheld with unappeasable jealousy, in Austrian handswas the first thing to change the policy of Alberoni towards Britain. This change was still further accelerated by the news of the Triple Alliance, which equally guaranteed the status quo of France. The Spanish Minister displayed his anger by suspending the Treaty of Commerce, and by conniving at the petty vexations practised by the Spaniards on the English merchants in Spain, and by decidedly rejecting a proposal of the King of England to bring about an accommodation between the Emperor and the Court of Spain.Of course, the commercial changes introduced by Mr. Huskisson and Mr. Robinson excited loud murmurs of dissatisfaction from the interests affected, especially the shipping interest. But the best answer to objectors was the continuously flourishing state of the country. At the opening of the Session in 1825, Lord Dudley and Ward, in moving the Address in answer to the King's Speech in the Upper House, observed:"Our present prosperity is a prosperity extending to all orders, all professions, and all districts, enhanced and invigorated by the flourishing state of all those arts which minister to human comfort, and those inventions by which man obtains a mastery over nature by the application of her own powers, and which, if one had ventured to foretell a few years ago, it would have appeared almost incredible." This happy state of things was the result of a legitimate expansion of trade. Manufacturers and merchants were at first guided by a spirit of sober calculation. The steady advance in the public securities, and in the value of property of all sorts, showed that the national wealth rested upon a solid basis. The extension of the currency kept pace with the development of trade and commerce, and the circulation of bankers' paper was enormously increased. But out of the national prosperity there arose a spirit of rash speculation and adventure, resulting in a monetary crisis. The issue of notes by country banks was under no restriction; no measures were taken to secure that their paper represented property, and could be redeemed if necessary. There were hundreds of bankers in the provinces who could issue any quantity of notes they pleased, and these passed as cash from hand to hand. The spirit of speculation and enterprise was stimulated to a feverish degree of excitement by the recognition of the states of Colombia, Mexico, and Buenos Ayres, formally announced in the King's Speech on the 3rd of February, which said that treaties of commerce had been made with those new states. The rich districts of South America being thus thrown open, there was a rush of capitalists and adventurers to work its inexhaustible mines. A number of companies was formed for the purpose, and the gains of some of them in a few months amounted to fifteen hundred per cent. The result was a mania of speculation, which seized upon all classes, pervaded all ranks, and threw the most sober and quiet members of society into a state of tumultuous excitement. Joint-stock companies almost innumerable were established, to accomplish all sorts of undertakings. There were thirty-three companies for making canals and docks, forty-eight for making railroads, forty-two for gas, twenty insurance companies, twenty-three banking companies, twelve navigation packet companies, five indigo and sugar companies, thirty-four metal companies, and many others. The amount of capital subscribed in these various companies, which numbered two hundred and seventy-six, was upwards of 174,000,000. In connection with South America there was the Anglo-Mexican Company, the Brazilian, the Colombian, Real de Monte, and the United Mexican. On the South American shares only ten pounds each had been paid, except the Real de Monte, on which 70 had been paid. We may judge of the extent to which gambling speculation was carried from the following statement of the market prices of the shares, in five of the principal mining companies[243], at two periods, December 10th, 1824, and January 11th, 1825:
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