ONE:The unnatural state of things induced by the war had now brought about a great change in our currency. As we could manage to get in our goods to the Continent by one opening or another, but could not get the produce of the Continent in return, it would have appeared that we must be paid in cash, and that the balance of specie must be in our favour; but this was not the case. By our enormous payments to our troops in Spain, Portugal, and Sicily, as well as in the East and West Indies, and by our heavy subsidies, gold had flowed out of the country so steadily that there appeared very little left in it, and bank paper had taken its place. On the Continent, impoverished as they were, the people tenaciously clung to their gold, and Buonaparte alone could draw it from them in taxes. He always took a heavy military chest with him on his expeditions, and his officers also carried the money necessary for themselves in their belts, or otherwise about their immediate persons. The gold being enormously diminished in quantity in England, was carefully hoarded on all hands, thus again increasing the scarcity, and raising the value of it. The price of bullion had risen from twenty to thirty per cent., and here was a further strong temptation to hoard or send guineas to the melting-pot. This state of things led a certain class of political economists to call for a repeal of the Act for suspension of cash payments, and Francis Horner obtained a committee of inquiry into the causes of the decrease of gold and the increase of paper: and this committee came to the conclusion that the true cause of the evil lay in the excess of paper, and that the way to restrain it would be to allow the demand for gold at the Bank. But the truth was that the cause of the evil was not the excess of paper, but the enormous diminution of gold; and to have opened a legal demand for gold which could not be had would only have produced a panic, and a complete and horrible assassination of all credit and all business. But there were clearer-sighted men in Parliament, who declared that, though bullion had risen in price, bank-notes would still procure twenty shillings' worth of goods in the market, and that they were not, therefore, really depreciated in value. That was true, but guineas had, notwithstanding, risen to a value of five- or six-and-twenty shillings, and might be sold for that. Gold had risen, but paper had not fallen; and gold could not take the place of paper, because it did not, to any great extent, exist in the country; if it had, paper must have fallen ruinously. Mr. Vansittart and his party, therefore, moved resolutions that the resumption of cash payments being already provided for six months after the conclusion of peace, was an arrangement which answered all purposes, and ought not to be disturbed; that this would keep all real excess of paper in check, and leave gold to resume its circulation when, by the natural influence of peace, it flowed again into the country. These were, accordingly, carried.
THREE:Hearing that General Copewho had seen his blunder in leaving open the highway to the Scottish capitalafter having reached Inverness, had begun a rapid march on Aberdeen, trusting to embark his army there, and reach Edinburgh in[95] time to defend it from the rebel army, Charles marched out of Perth on the 11th of September. He reached Dunblane that evening, and on the 13th he passed the fords of Frew, about eight miles above Stirling, knowing that several king's ships were lying at the head of the Firth. On their approach, Gardiner retired with his dragoons from the opposite bank. Stirling, being deserted by the troops, was ready to open its gates; but Charles was in too much haste to reach Edinburgh. Hearing that Gardiner, with his dragoons, intended to dispute the passage of Linlithgow Bridge, Charles sent on one thousand Highlanders, before break of day, under Lord George Murray, in the hope of surprising them; but they found that they had decamped the evening before, and they took peaceable possession of Falkirk and the old palace. The prince himself came up on the evening of that day, Sunday, the 15th, where the whole army passed the night, except the vanguard, which pushed on to Kirkliston, only eight miles from Edinburgh.
THREE:The Diet issued a counter-proclamation rebutting[398] Catherine's long catalogue of charges seriatim, and denying the right of any nation, under any pretence whatever, to interfere with the internal changes of another nation executed by the proper authorities and representatives of the people. Stanislaus Augustus issued an address to the Polish army, calling upon it to defend the national rights from the domination of Russia. But, unfortunately, Poland was in no condition to cope with the might of Russia. No pains had been taken to organise the army in years past on any scale capable of defending the nation; the new rights conferred on the people were too new to have given them yet any interest in them. Poland, therefore, in all haste, made solicitations for help to Prussia, Austria, Britain, Sweden, and Denmark; but in vain. Sweden and Denmark had, now that Gustavus was dead, determined to have no concern in wars resulting in any way from the French Revolution. Frederick William of Prussia pretended to have foreseen this offence to Russia in the alarming measures of the Diet, and protested that had it not been for these, Russia would never have taken the decided step which she had now done. He, however, coldly professed himself ready to unite with Russia and Austria to restore the former state of things in Poland. As for Austria, she lay cold and neutral in appearance; but though Poland was not aware of it, both Prussia and Austria were in the secret league for the dismemberment of that unfortunate country.During the French war, when the Paris fashions were intercepted, much variety in the fashion of dress took place amongst both gentlemen and ladies; but before the peace had arrived the most tasteless costumes had become general, and the waists of both sexes were elevated nearly to their shoulders. The tight skirts and short waists of the ladies gave them the most uncouth aspect imaginable; and the cut-away coats and chimneypot hats of the gentlemen were by no means more graceful. The military costume had undergone an equally complete revolution, and with no better success.