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[See larger version]On the day after this division a deputation of nearly ninety members of the House of Commons, headed by Lord James Stuart, waited upon Lady Palmerston, and presented her with a full-length portrait of her husband, representing him in evening dress and wearing the ribbon of the Order of the Bath. They requested her Ladyship to accept of that testimony of their high sense of Viscount Palmerston's public and private character, and of the independent policy by which he maintained the honour and interests of the country. What made this presentation singularly opportune was the fact that on the same day a telegraphic despatch had been received from Paris, announcing the settlement of the Greek question. The Government was undoubtedly strengthened by Lord Palmerston's display, at a moment when its fall seemed inevitable.FATHER MATHEW.
  • THREE:Soon after the prorogation of Parliament in the autumn her Majesty resolved to pay her first visit to her Irish subjects. At Cowes a royal squadron was in readiness to convoy the Victoria and Albert across the Channel. The Queen was accompanied by Prince Albert, the Prince of Wales, Prince Alfred, the Princess Royal, and the Princess Alice. The royal yacht anchored alongside the Ganges, her arrival off the Irish coast being announced by the booming of artillery on the 2nd of August, which was the signal for the lighting of bonfires upon the hills around the picturesque town of Cove. In the morning a deputation went on board, consisting of the Marquis of Thomond, head of the house of O'Brien, the Earl of Bandon and several of the nobility and gentry of the county, with the Mayor of Cork, and Mr. Fagan, M.P. for that city. They were introduced to her Majesty by Sir George Grey, the Secretary of State in attendance during the visit. Arrangements were then made for the landing, and about three o'clock the Queen first set foot upon Irish[572] ground, amidst the most enthusiastic demonstrations of loyalty from the multitudes assembled to bid their Sovereign welcome, mingling their cheers with the roar of cannon, which reverberated from the hills around. A pavilion had been erected for her Majesty's reception, and over it floated a banner, with the word "Cove" emblazoned upon it. The Queen had consented, at the request of the inhabitants, to change the name of the place and call it "Queenstown," and when she left the pavilion the first flag was pulled down and another erected in its stead, with the new name. Thus the old name of "Cove" was extinguished by the Queen's visit, just as the old name of "Dunleary" had been extinguished by the visit of George IV.

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  • THREE:As it was, the extreme caution of Kutusoff saved Buonaparte and the little remnant of his army that ever reached France again. Buonaparte left Smolensk with only forty thousand, instead of four hundred and seventy thousand men, which he had on entering Russia, and a great part of the Italian division of Eugene was cut off by the Russians before the Viceroy could come up with Buonaparte. Napoleon, therefore, halted at Krasnoi, to allow of the two succeeding divisions coming up; but Kutusoff took this opportunity to fall on Buonaparte's division, consisting of only fifteen thousand men, and attacked it in the rear by cannon placed on sledges, which could be brought rapidly up and as rapidly made to fall back.Not at all dismayed by this unrighteous severity, the Scottish Friends of the People met in convention, in Edinburgh, on the 9th of October. At this Convention delegates appeared, not only from most of the large towns of Scotland, but also from London, Sheffield, and Dublin. Letters were also received from the Societies in England. Mr. William Skirving, a friend of Muir and Palmer, as secretary to the Convention, read these letters, and other papers, demanding annual parliaments and universal suffrage. As the British Parliament was considered, and truly, merely a corrupt clique of the representatives of boroughmongers, they proposed to apply directly to the king, that he might urge those necessary reforms on the Legislature.[428] In Scottish fashion, the Reformers opened and closed their sittings with prayer, presenting a striking contrast to the French Revolutionists. On the 6th of November delegates appeared from the Society of United Irishmen, and Margarot and Gerald from the Society of the Friends of the People in London. Margarot stated that five hundred constables had beset the meeting in London, to prevent delegates from getting away to this Convention, but that the manufacturing towns of England were almost all in favour of Reform; that in Sheffield alone there were fifty thousand; that a general union of the Reformers of the United Kingdom would strike terror into their enemies, and compel them to grant annual parliaments and universal suffrage.

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  • THREE:SIR ROBERT PEEL.

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THREE:
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THREE:It is impossible to conceive the extent of suffering and desolation inflicted upon society, almost every family being involved, more or less, in the general calamity. Flourishing firms were bankrupt, opulent merchants impoverished, the masses of working people suddenly thrown out of employment, and reduced to destitution; and all from causes with which the majority had nothing to docauses that could have been prevented by a proper monetary system. If Bank of England notes had been a legal tender, to all intents and purposes supplying the place of gold as currency; if these notes had been supplied to the country banks in any quantities they required, ample security being taken to have assets equal to their respective issues, then the currency would have had an elastic, self-adjusting power, expanding or contracting according to the requirements of commerce. Inordinate speculation would not have been stimulated by a reckless system of credit, and business would have been conducted in a moderate and judicious manner, instead of rushing on at a high pressure that rendered a crash inevitable. The Government, after anxious and repeated deliberations, supplied a remedy on this principle. They determined to issue one-pound and two-pound notes of the Bank of England, for country circulation, to any amount required. In the meantime the Mint was set to work with all its resources in the coining of sovereigns[244], which, for the course of a week, were thrown off at the rate of 150,000 a day. The notes could not be manufactured fast enough to meet the enormous demand for carrying on the business of the country. In this dilemma the Bank was relieved by a most fortunate discoverya box containing 700,000, in one- and two-pound notes that had been retired, but which were at once put into circulation. The people having thus got notes with Government security, the panic subsided, and the demand for gold gradually ceased. The restoration of confidence was aided by resolutions passed at a meeting of bankers and merchants in the City of London, declaring that the unprecedented embarrassments and difficulties under which the circulation of the country laboured were mainly to be ascribed to a general panic, for which there were no reasonable grounds; that they had the fullest confidence in the means and substance of the banking establishments of the capital and the country; that returning confidence would remove all the symptoms of distress caused by the alarms of the timid, so fatal to those who were forced to sacrifice their property to meet unexpected demands. The new measures so promptly adopted and so vigorously carried into effect, raised the circulation of the Bank of England notes in three weeks from 17,477,290 to 25,611,800. Thus the regular and healthful action of the monetary system was restored by an adequate circulation of paper money, on Government security, without specie to sustain it. There were at the time of the crash 770 country bankers; 63 stopped payment, 23 of them having subsequently resumed business, and paid twenty shillings in the pound; and even those that were not able to resume, paid an average of seventeen shillings and sixpence in the pound. It was estimated that the total loss to the country by this panic was one hundred million pounds.

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THREE:O'CONNELL AT THE MEETING AT TRIM. (See p. 526.)

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THREE:The first transactions of the campaign of 1795 which demand our attention, are those of Holland. To the British army these were most disastrous, and came to an end before the winter closed. The Duke of York had returned to England early in December, 1794, leaving the chief command to General Walmoden, a Hanoverian, second to whom was General Dundas. Walmoden had gone quietly into winter quarters in the isle of Bommel, forgetting that the firmness of the ice would soon leave him exposed with his small force to the overwhelming swarms of the French, under Pichegru, who, in the middle of December, crossed the Waal with two hundred thousand men, and drove in his lines. General Dundas advanced against him with eight thousand men, and, for the time, drove the French back, on the 30th of December, across the Waal. But this could not last with such disproportionate forces, especially as our troops were left with the most wretched commissariat, and an equally wretched medical staff; in fact, there were neither surgeons to attend the greater part of the wounded, nor medicines for the sick. On the 4th of January, 1795, the French came back with their overpowering numbers, and on the 6th the British were compelled to retire across the Leck, and continue their retreat, suffering indescribable miseries from the want of food, tents, and proper clothes, in the horrors of a Dutch winter. Notwithstanding this, the British repeatedly turned and drove back the enemy with heavy slaughter. But on the 11th of January Pichegru attacked them in a defile between Arnhem and Nimeguen, with a condensed force of seventy thousand men, and took every measure to destroy, or compel the surrender of, the whole British army. They, however, fought their way through and continued their march for the Elbe, the only quarter open to them. During this retreat they were less harassed by the French, who fell off to occupy Utrecht and Rotterdam, than by the fury of the winter and the hostility of the Jacobinised Dutch, who cursed them as the cause of all the sufferings of their country. Such was the end of Britain's campaign for the defence of her Dutch allies. Holland was proclaimed a free Republic under the protection of France, and Britain immediately commenced operations for indemnifying herself, by seizing the ships and colonies of her late ally in every quarter of the globe. They intercepted the homebound Dutch Indiamen, and when the Council of Government sent deputies to London to reclaim them, Lord Grenville, the Foreign Minister, asked them in what character they came. They replied, that they came as representatives of the sovereign people of Batavia. The Foreign Minister said he knew of no such Power, and declined to receive them. No time was lost in seizing the Dutch colonies and factories. On the 14th of July Admiral Sir G. Keith Elphinstone appeared in Table Bay, and landed a considerable force under command of Major-General Craig. They possessed themselves of Simon's Town and the strong fort of Muyzenberg, and in the beginning of September, being reinforced by another body of troops, under Major-General Alured Clarke, on the 23rd of that month they were masters of Cape Town. A similar activity was displayed in the East Indies; and in the course of the year, or early in 1796, all the Dutch possessions in Ceylon, Malacca, Cochin, Amboyna, and other places were surrendered to the British. The same seizures were in course of execution on the settlements of the Dutch in the West Indies, and on the coast of South America.Bagration, prevented by Jerome of Westphalia from pursuing his route towards Drissa, changed his course towards Minsk; but finding himself outstripped there too, he made for the Beresina, and effected a passage at Bobruisk. He then ascended the Dnieper as far as Mohilev; but, finding himself anticipated by Davoust, he attacked that general in the hope of cutting his way through. In this he failed, after a sharply-contested engagement, and once more he retired down the Dnieper, and crossed at Nevoi-Bikoff, which enabled him to pursue his course for a union with Barclay de Tolly, who was making for Smolensk. Thus Bagration, though running imminent hazard of being cut off, managed to out-man?uvre Napoleon himselfa new event in his campaigns. On his march, his troops had several encounters with the French and Polish cavalry; but Platoff showed great gallantry, and often severely punished the enemy.

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THREE:On the morning of the 14th the transports, to their great relief, hove in sight, and Sir John hastened to get on board the sick, the horses, and the dismounted cavalry, and to prepare for a fight, for Soult was now close upon the town; the hills were crowded with his troops, and they were already skirmishing with his outposts. In these skirmishes Colonel Mackenzie was killed in endeavouring to seize some of the French cannon, planted on the same spot where the powder had just been blown up. The morning of the 16th passed without any attack from Soult, and Sir John proceeded with his arrangements for embarkation; but about noon the battle began. Soult had erected a powerful battery on some rocks at the extremity of his left, and commanding the village of Elvina, occupied by our troops. Sir David Baird was posted on the British right, opposite to the battery, and at no great distance from the village. The French made a dash at the village, under cover of the battery, and drove our men from it. The fight then became general. Soult had twenty thousand men, Sir John about fourteen thousand five hundred; but Soult had far more and heavier cannon, for Sir John had shipped all his artillery except twelve light guns. It was soon seen that the French cannon did vastly more execution than ours; and as the whole line was engaged, Sir John sent Sir E. Paget, with the whole of his reserve, to turn the left of a column that was outflanking Baird on the right, and to silence the battery, if possible. Another division, under General Frazer, was sent to support Paget, and the battle now raged furiously on the right, and about the village of Elvina, which was lost and taken once or twice. In this conflict Sir David Baird had his arm shattered by a cannon-ball, and was taken off the field. Major Stanhope was killed, and Major, afterwards General Sir Charles, Napier was wounded. But Paget drew back on the British right, and Sir John, seeing the 42nd Highlanders engaged, rode up to them and shouted, "Highlanders! remember Egypt!" and they rushed forward, driving all before them, till they were stopped by a stone wall. The battle, however, still raging, and the French bringing up reserves, the furious contest was renewed around the village of Elvina. Sir John then dispatched Captain, afterwards Lord, Hardinge, to bring up the Guards to support the 42nd Highlanders. Whilst awaiting their arrival, a cannon-ball, which had struck the ground, glanced forward again, and wounded Sir John on the right shoulder and breast. He was dashed from his horse, and was supposed to be killed; but the force of the ball having been partly spent, before Captain Hardinge could reach him he had raised himself, and was gazing earnestly after the 42nd and the other troops engaged. When he had seen his soldiers driving the French before them, he consented to be borne to the rear. He was carried away by a Highland sergeant and three soldiers, in a blanket, his wound bleeding very much, and himself satisfied that his hurt was mortal. As he went, however, he repeatedly made the soldiers halt, that he might have another view of the battle. By night the French were beaten back in every direction; but the British general was dead, having lived only to receive the tidings of victory. During the night the troops were, most of them, got on board, and at midnight Sir John's remains were committed to the groundas he had always wished them to be, should he be killed in battleon the ramparts in the old citadel of Corunna. No coffin was to be procured, for coffins were not a Spanish fashion; but he was buried dressed as he was, and wrapt in his military cloak, literally as described in Wolfe's popular poem on his death. The chaplain read the burial service, and there his officers "left him alone with his glory," to make their own embarkation.

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FORE:The Ministry had, as a matter of course, been much weakened by the retirement of Lord Grey; but, having got through the Session, it might have survived to the next meeting of Parliament but for the death of Earl Spencer, which occurred on the 10th of Novemberan event which removed Lord Althorp to the House of Peers. It was supposed that this would lead only to a fresh modification of the Cabinet, by a redistribution of places. For example, Lord John Russell was to succeed Lord Althorp as the leader of the House of Commons. Lord Melbourne's Administration seemed to be quietly acquiesced in, as sufficient for a time; the nation evidently assuming that, in any case, a Liberal Government was the necessary consequence of a reformed Parliament. The public were therefore startled when it was announced on the 15th that the king had dismissed his Ministers. It appeared that Lord Melbourne had waited upon his Majesty at Brighton, on the 14th, to take his commands as to the new arrangements he was about to make. But the king said he considered that Government dissolved by the removal of Lord Althorp; that he did not approve of the intended construction of the Cabinet; that Lord John Russell would make "a wretched figure" as leader of the House, and that Abercromby and Spring-Rice were worse than Russell; that he[378] did not approve of their intended measure with regard to the Irish Church; and concluded by informing Lord Melbourne that he would not impose upon him the task of completing the Ministerial arrangements, but would send for the Duke of Wellington.

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FORE:Subscriptions began to pour in for the Association, and the work went on. The year 1839 opened with bright prospects for the Anti-Corn Law crusade. Times were, indeed, changed since pseudo-Liberals had been able to make the apathy of the country an excuse for withholding aid from those who had, on principle, continued to demand justice in the matter of the poor man's loaf. The movement was rapidly becoming general. Mr. Villiers had prophesied in the last Session of Parliament that the day was not far distant when the landed interest would be compelled to treat this question with respect, and abandon the practice of shouting down the advocates of Free Trade in the Legislature. That day had now arrived, and sooner, probably, than the prophet himself had expected it. There was scarcely a large town or thickly populated district in Great Britain which had not moved, or which was not about to petition Parliament against the bread-tax. In many cases political differences were not allowed to hinder the common fellowship of citizens having such an object as the overthrow of a system that threatened to convert the mercantile community into a mass of bankruptcy, and to involve all classes in deep distress.A Privy Council was held at Dublin Castle, at which it was determined to offer rewards for the arrest of the principal conspirators500 for William Smith O'Brien, and 300 each for Meagher, Dillon, and O'Doherty. The offence charged was, having taken up arms against her Majesty. The rewards offered soon brought matters to a crisis. As soon as the proclamations were posted up, Sub-Inspector Trant proceeded from Callan, in the county Kilkenny, with a body of between fifty and sixty of the constabulary, in the hope of capturing some of the proclaimed rebels. Arrived on Boulagh Common, near Ballingarry, on the borders of Tipperary and Kilkenny, they took possession of a slated farmhouse, belonging to a widow named Cormack. This house they hastily fortified, by piling tables, beds, and other articles against the doors and windows. The insurrection actually commenced at a place called Mullinahone, where, at the ringing of the chapel bell, large numbers of the peasantry assembled in arms, and hailed Smith O'Brien as their general. He was armed with a short pike and several pistols, which he had fastened to a belt. On the 26th of July he went to the police barrack, where there were but six men, and endeavoured to persuade them to join him, promising better pay and promotion under the republic, and telling them that they would resist at their peril. They refused. He then demanded their arms, but they answered that they would die rather than surrender them. He gave them an hour to consider, but departed without carrying his threat into execution. On the 29th Mr. Smith O'Brien appeared on Boulagh Common with increased forces, who surrounded the house in which the constabulary were shut up. He went into the cabbage garden to speak to the police at an open window. He addressed one of the men, and earnestly pressed them to surrender and give up their arms. The constable said he would call Mr. Trant. That gentleman immediately hastened to the spot; but the rebel chief had taken his departure. Apprehending an attack, Mr. Trant immediately ordered his men to fire, when a battle commenced, which speedily terminated in the defeat of the rebels, of whom two were killed and several wounded. Two shots were aimed at Smith O'Brien without effect; but one of them hit a rebel who was standing by his side brandishing a pike. He was killed on the spot. Another party of police under the command of Mr. Cox, and accompanied by Mr. French, the stipendiary magistrate, came up at the instant, and fired on the rebels, after which they fled in the greatest disorder. Eighteen were killed, and a large number wounded. The police suffered no loss whatever. A large detachment of the 83rd Regiment and about 150 of the constabulary, with Inspector Blake, hastened to the defence of the besieged party; but when they arrived the danger was over, and the police returned to Callan. That evening twenty signal fires blazed on the mountain of Slieve-na-mon. Next day, being Sunday, the military did not attend public worship, and were everywhere kept on the alert. The greatest excitement appeared amongst the peasantry at the Roman Catholic chapels, who were in hourly expectation of being called upon to act, the most anxious solicitude being painted upon the countenances of the women. There is no doubt, from the temper of the population, that had the priests given the word, there would have been a general rising. But they almost universally condemned the conduct of the leaders as insane, and as certain to involve them and all who joined them in destruction. In the meantime, General[569] Macdonald, at the head of his flying column, consisting of 1,700 men, pursued the insurgents, while troops and artillery were poured into Clonmel, Kilkenny, and Thurles. Near the latter place General Macdonald encamped on the domain of Turtulla, the seat of Mr. Maher, M.P. The butchers of Thurles refused to supply the men with meat, and consequently provisions had to be brought from the commissariat stores at Limerick, and large quantities of biscuits from Dublin, the people having broken into the house of the baker who supplied them with bread at Thurles and destroyed his furniture.

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FORE:At this juncture, when the eyes of all Europe were turned on the new Republic of America, Congress gave a proof of its utter contempt of those principles of honour which are regarded as the distinguishing characteristics of civilised nations. The convention on which General Burgoyne's army had surrendered was deliberately violated. It had been stipulated that his troops should be conveyed to Boston, and there suffered to embark for England in British transports to be admitted to the port for that purpose. But no sooner did Congress learn this stipulation than it showed the utmost reluctance to comply with it. It was contended that these five thousand men would liberate other five thousand in England to proceed to America. It was therefore determined to find some plea for evading the convention. An article of the convention provided that the English officers should be quartered according to their rank; but they complained that six or seven of them were crowded into one small room, without regard either to rank or comfort. But Burgoyne, finding remonstrance useless at Boston, wrote to Gates reminding him of his engagements in the convention, and declaring such treatment a breach of public faith. This was just one of those expressions that Congress was watching for, and they seized upon it with avidity. "Here," they said, "is a deep and crafty schemea previous notice put in by the British General to justify his future conduct; for, beyond all doubt, he will think himself absolved from his obligation whenever released from his captivity, and go with all his troops to reinforce the army of Howe." Burgoyne offered at once to give Congress any security against such imagined perfidy. But this did not suit Congressits only object was to fasten some imputation on the English as an excuse for detaining them contrary to the convention, and they went on to raise fresh obstacles.

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    FORE:Canning, now rising into note, and Windham, declared that there were no motives for peace, but everything to necessitate the active prosecution of the war; and Windham could not help severely condemning the acquittal of Horne Tooke, Hardy, Thelwall, and the rest of the accused Reformers. He was called to order for thus impugning the conduct of independent juries, and reminded that no legal proofs of the guilt of the prisoners had been producedon which he replied that they ought to have been condemned, then, on moral proofs.At this point the advance of the Prussians was unexpectedly checked. After the capture of Verdun, on the 2nd of September, they had spread themselves over the plains of the Meuse, and occupied, as their main centre, Stenay. Dumouriez and his army lay at Sedan and in its neighbourhood. To reach him and advance on Chalons in their way to Paris, the Allies must pass or march round the great forest of Argonne, which extends from thirteen to fifteen leagues, and was so intersected with hills, woods, and waters, that it was at that time impenetrable to an army except through certain passes. These were Chne-Populeux, Croix-aux-Bois, Grand Pr, La Chalade, and Islettes. The most important were those of Grand Pr and Islettes, which however were the two most distant from Sedan. The plan therefore was to fortify these passes; and in order to do this Dumouriez immediately ordered Dillon to march forward and occupy Islettes and La Chalade. This was effected; a division of Dillon's forces driving the Austrian general, Clairfayt, from the Islettes. Dumouriez followed, and occupied Grand Pr, and General Dubouquet occupied Chne-Populeux, and sent a detachment to secure Croix-aux-Bois between Grand Pr and Chne-Populeux.
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    FORE:Alexander of Russia, having obtained all that he hoped for from the peace of Tilsit and the alliance with Napoleon by the conquest of Finland, was looking about for a new ally to aid him in freeing himself from the insolent domination of Buonaparte, who was ruining Russia as well as the rest of Europe by his Continental system, when these unexpected events in Sweden opened up to him a sudden and most marvellous ally. The Swedes had chosen the Duke of Sudermania, the uncle of the deposed king. Charles XIII., the brother of Gustavus III. (assassinated by Count Anckarstr?m in 1792), was old, imbecile, and childless. A successor was named for him in the Duke of Augustenburg, who was extremely popular in Norway, and who had no very distant expectations of the succession in Denmark. This princea member of an unlucky househad scarcely arrived in Sweden when he died suddenly, not without suspicion of having been poisoned; in fact, various rumours of such a fate awaiting him preceded his arrival. Russia, as well as a powerful party in Sweden, was bent on restoring the line of Vasa. Alexander was uncle to the young prince, who, by no fault of his own, was excluded from the throne. Whatever was the real cause, Augustenburg died, as had been predicted; and while the public mind in Sweden was agitated about the succession, the aged king, Charles XIII., applied to Napoleon for his advice. But Napoleon had bound himself at Tilsit to leave the affairs of the North in the hands of Alexander, and especially not to interfere in those of Sweden. He therefore haughtily replied:"Address yourself to Alexander; he is great and generous"ominous words, which were, ere long, applied, to his astonishment and destruction.
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    FORE:
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    FORE:The new Parliament reassembled on the 14th of November, and the king in his speech, whilst pretending the differences which had arisen between us, France, and Spain were by no means serious, yet called for enlarged supplies to defend our American territories against the designs of these Powers. In fact, matters were becoming very serious in our American colonies; but the Government withheld the real facts from the knowledge of the public, and it was not till the opening of Parliament, in March, 1755, that they candidly avowed that war was inevitable. The French and English were actually engaged in war both in the East Indies and in America. In the East Indies there was just now an apparent pause in hostilities, through an agreement between the two Companies; but in North America matters daily grew worse. There were, and had been ever since the Peace, violent disputes as to the boundary-lines both of Nova Scotiaor, as the French styled it, Acadiaand between Canada and our colony of New England. The French, becoming more and more daring, commenced the erection of forts in the valley of the Ohio, to connect the settlements on the St. Lawrence with those on the Mississippi. They had already erected one called Duquesne, greatly to the indignation of the inhabitants of Pennsylvania and Virginia. In Nova Scotia, Major Lawrence, with one thousand men, defeated the French and their Indian allies; but, on the other hand, the French surprised and sacked Block's Town, on the Ohio, belonging to the Virginians, who sent forward Major George Washington to attack Fort Duquesne. Washington, destined to acquire the greatest name in the New World, marched with four hundred men, but was surprised at a place called Great Meadows, and was glad to capitulate on condition of retiring with military honours (1754).The winter of 1836-7 was marked by great commercial activity, and a strong tendency to over-trading, chiefly on the part of the banks. The result was a reaction, and considerable monetary embarrassment. In the reckless spirit of enterprise which led to these consequences, the American houses took the lead. The American speculators indulged an inordinate thirst for gain by land jobs, and over-trading in British produce. The most remarkable examples of this were afforded by three great American houses in London, called "the three W.'s." From an account of these firms, published in June, 1837, it appeared that the amount of bills payable by them from June to December, was as follows: Wilson and Co.,[411] 936,300; Wigan and Co., 674,700; Wildes and Co., 505,000; total acceptances, 2,116,000. This was upwards of one-sixth of the aggregate circulation of the private and joint-stock banks of England and Wales, and about one-eighth of the average circulation of the Bank of England. The shipments to America by Wigan and Co. amounted to 1,118,900. The number of joint-stock banks that started into existence at this time was remarkable. From 1825 to 1833 only thirty joint-stock banks had been established. In that year the Charter of the Bank of England being renewed, without many of the exclusive privileges it formerly enjoyed, and the spirit of commercial enterprise being active, joint-stock banks began to increase rapidly. There was an average of ten new companies annually, till 1836, when forty-five of these establishments came into existence in the course of ten months. In Ireland there were ten started in the course of two years. The consequence of this greatly increased banking accommodation produced a wild spirit of commercial adventure, which collapsed first in America, where the monetary confusion was unexampledbankers, importers, merchants, traders, and the Government having been all flung into a chaos of bankruptcy and insolvency. This state of things in America had an immediate effect in England. Discounts were abruptly refused to the largest and hitherto most respectable houses of Liverpool and London. Trade, in consequence, became paralysed; prices suddenly dropped from thirty to forty per cent.; and the numerous share bubblesthe railway projects, the insurance companies, the distillery companies, the cemetery companies, the sperm oil, the cotton twist, zoological gardens, and other speculationswhich had floated on the pecuniary tide, all suddenly collapsed, and there was an end to the career of unprincipled adventurers. It is satisfactory, however, to observe that the sound commerce of the country soon recovered the shock thus given; and in less than two years the pecuniary difficulties had passed away. Commerce had resumed its wonted activity, and flowed steadily in legitimate channels. The American banks resumed payment, and the three great American houses, which had involved themselves to such an enormous extent, were enabled to meet all their liabilities.
  • Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.rupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident fuga.

    FORE:CHAPTER XVI. THE REIGN OF VICTORIA (continued).

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In the West Indies it was decided that Great Britain should, of the French islands that she had taken, retain Tobago, Dominica, St. Vincent, and[175] Grenada, but restore to France Guadeloupe, Martinique, and St. Lucia.The new British Parliament met on November 26, and Ministers were seen to have a powerful majority. The king announced, in his speech from the throne, that hostilities had broken out in India with Tippoo, and that a peace had been effected between Russia and Sweden, and he mentioned the endeavours that were in progress for restoring amity between the Emperor of Austria and his subjects in the Netherlands. In the debate on the Address in the Commons, Fox appeared inclined still to laud France, and to condemn our interference in the Netherlands. His eyes were not yet opened to the real danger from France, whose example was indeed exciting popular disturbances in the Netherlands and in Poland. Already the doctrines of Liberty and Equality had reached the ears of the negroes in St. Domingo, who had risen to claim the rights of man so amiably proclaimed by France, and the troops of France were on their way thither to endeavour to put them down, in direct contradiction of their own boasted political philosophy. In the Lords, Earl Greythe father of the Whig statesmanon the 13th of December, called for the production of papers relating to Nootka Sound. The motion was negatived by two hundred and fifty-eight against one hundred and thirty-four votes. But the Marquis of Lansdowne contended that Spain had a right to the whole of the North American coast on which Nootka Sound is situated, and had had it since the reign of Queen Elizabeth. He asserted that we had insulted the weakness of Spain; and that Mr. Mears and the other projectors of the trading settlement of Nootka Sound were a set of young men of letters, seeking for novelties. He completely overlooked the provocations which[376] Spain had lately given us, and her endeavours to enter into a conjunction with France against us. He condemned Ministers for having alienated France, Spain, Russia, Denmark, and Sweden, overlooking the fact that they had made alliances with Prussia, Austria, Holland, and the Netherlands. Pitt's cousin, Lord Grenville, replied to this one-sided view of things, and proudly contrasted the position of Britain at this moment to what it was at the conclusion of the American War, when Lord Lansdowne himself, as Lord Shelburne, had been in the Ministry. Pitt, on the 15th of December, stated that the expenses of the late armament, and the sums necessary to keep up the increased number of soldiers and sailors for another year, before which they could not be well disbanded, owing to certain aspects of things abroad, would amount to something more than three millions, which he proposed to raise by increasing the taxes on sugar, on British and foreign spirits, malt, and game licences, as well as raising the assessed taxes, except the commutation and land taxes. He stated that there was a standing balance of six hundred thousand pounds to the credit of the Government in the Bank of England, which he proposed to appropriate to the discharge of part of the amount. He, moreover, introduced a variety of regulations to check the frauds practised in the taxes upon receipts and bills of exchange, which he calculated at three hundred thousand pounds per annum. With this, Parliament adjourned for the Christmas recess, and thus closed the eventful year of 1790.The employment of pit-coal had not reached perfection, and in 1785 the Society of Arts offered a premium for the making of fine bar iron with pit-coal. This object was accomplished by Mr. Cort, an iron-founder of Gloucestershire, by exposing the pig iron on the hearth of a reverberatory furnace to the flame of pit-coal. This process was improved into what was called puddling, in puddling or reverberatory furnaces. Cort also introduced the drawing out of iron between cylindrical rollers; but he became ruined in his experiments, and other iron-masters of more capital came in to reap the profit. Many years passed before a pension was conferred on some of his children for his services. In 1755 the whole population of Carron was only one thousand eight hundred and sixty-four; in 1795 the workmen alone employed in the works were one thousand, the population four thousand, when the foundry had five blast furnaces, sixteen air furnaces, three cupola furnaces, and consumed one hundred and thirty-six tons of coals daily. It supplied to the Government eleven thousand tons annually of cannon, mortars, shot, shells, etc.; to the East India Company six thousand tons; and to all customers together twenty-six thousand tons. The growth of the iron trade in Great Britain, through these improvements, may be seen from the fact that in 1802 there were one hundred and sixty-eight blast furnaces, producing two hundred and twenty thousand tons of iron; in 1820 the annual production of iron was four hundred thousand tons; in 1845 the production was calculated at twice that amountthat is, in twenty-five years the production had doubled itself. In 1771 the use of wire ropes, instead of hempen ones, was suggested by M. Bougainville, and this was made a fact by Captain Brown, in 1811. Before this, in 1800, Mr. Mushet, of Glasgow, discovered the art of converting malleable iron, or iron ore, into cast steel; and in 1804 Samuel Lucas, of Sheffield, further extended the benefit by the discovery of a mode[198] of converting any castings from pig iron at once into malleable iron, or cast steel, so that knives, forks, snuffers, scythes, and all kinds of articles, were converted into steel, "without any alterative process whatever between the blast furnace and the melting-pot." In 1815 it was calculated that two hundred thousand persons were employed in manufacturing articles of iron, the annual value of which was ten million pounds.Arnold had not been able to bring any artillery with him; Montgomery had a little. They had about twelve hundred men altogether; and with this force they now marched upon Quebec. On the 20th of December they commenced firing on the town from a six-gun battery; but their cannon were too light to make much impressionthey had no guns heavier than twelve-pounders, and these were soon dismounted by Colonel Maclean and his sailors. The Americans withdrew their guns to a safer distance; and their troops were desirous to abandon the enterprise as impracticable, but the commanders engaged them to continue by holding out a prospect of their plundering the lower town, where all the wealth lay. On the last day of the year, soon after four in the morning, the attack was commenced. Two divisions, under Majors Livingstone and Brown, were left to make feigned[222] attacks on the upper town, whilst the rest, in two lines, under Montgomery and Arnold, set out amid a blinding snow-storm to make two real attacks on the lower town. Montgomery, descending to the bed of the St. Lawrence, wound along the beach to Cape Diamond, where he was stopped by a blockhouse and picket. Haying passed these, he again, at a place called Pot Ash, encountered a battery, which was soon abandoned. Montgomery then led his troops across huge piles of ice driven on shore; and no sooner had they surmounted these than they were received by a severe fire from a battery manned by sailors and Highlanders. Montgomery fell dead along with several other officers and many men; and the rest, seeing the fate of their commander, turned and fled back up the cliffs. Arnold, at the same time, was pushing his way through the suburbs of the lower town, followed by Captain Lamb with his artillerymen, and one field piece mounted on a sledge. After these went Morgan with his riflemen; and as they advanced in the dark, and muffled in the falling snow, they came upon a two-gun battery. As Arnold was cheering on his men to attack this outpost, the bone of his leg was shattered by a musket-ball. He was carried from the field; but Morgan rushed on and made himself master of the battery and the guard. Just as day dawned, he found himself in front of a second battery, and, whilst attacking that, was assailed in the rear and compelled to surrender, with a loss of four hundred men, three hundred of whom were taken prisoners. Arnold retreated to a distance of three or four miles from Quebec, and covered his camp behind the Heights of Abraham with ramparts of frozen snow, and remained there for the winter, cutting off the supplies of the garrison, and doing his best to alienate the Canadians from the English.
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