FORE:Hastings then mustered fresh regiments of sepoys; demanded and received three battalions from Cheyte Sing, the Rajah of Benares; armed cruisers; laid up stores of ammunition and provisions for three months in Fort William; enrolled a thousand European militia at Calcutta, and stood ready for any French invasion from sea. He then despatched Colonel Leslie with a strong force into the very heart of the Mahratta country. Leslie appeared to have lost his energy, made four months' delay in the plains of Bundelcund, and the next news was that he was dead. Colonel Goddard was sent to take his command, and advanced into Berar; but there hearing that successive revolutions were taking place at Poonah, he waited the result of them. Meanwhile, the presidency of Bombay, desirous of anticipating the expeditions from Calcutta, now undertook to reinstate Ragunath Rao, a deposed peishwa, whom they had lately left to his fate, and taking him along with him, the British commander, Colonel Egerton, marched into the Mahratta country with four thousand men. The army, when it had reached within sixteen miles of Poonah, was surrounded by hosts of Mahratta cavalry, and was compelled to surrender. The Mahrattas, as conditionswhich the British were in no position to declineinsisted on the restoration of all the territory won from them by the British since 1756, and the surrender to them of Ragunath Rao. But Hastings refused to recognise this treaty. He ordered Colonel Goddard to advance. The title of general was conferred on him, and he well justified the promotion. In that and the succeeding campaign he won victory on victory; stormed Ahmedabad; took the city of Bassein; gained a splendid victory over forty thousand of the combined forces of Holkar and Scindia, and, in a great measure, retrieved all the losses, and restored the fame of the British arms. In another quarter the success against the Mahrattas was equally decisive. Captain Popham with a small body of troops stormed and took the city of Lahore, and the huge fortress of[330] Gwalior, which the Mahrattas deemed impregnable.All the traversers were found guilty. The Attorney-General did not press for judgment against the Rev. Matthew Tierney. Upon the rest Mr. Justice Burton, who was deeply affected, pronounced judgment on the 30th of May, in the following terms:"With respect to the principal traverser, the Court is of opinion that he must be sentenced to be imprisoned for the space of twelve calendar months; and that he is further to be fined in the sum of 2,000, and bound in his own recognisances in the sum of 5,000, and two sureties in 2,500, to keep the peace for seven years. With respect to the other traversers, we have come to the conclusion that to each shall be allotted similar sentences, namely, that they be imprisoned for the space of nine calendar months, each of them to pay 50 fine, and to enter into their own recognisances of 1,000 each, and two sureties of 500, to keep the peace for seven years."
FORE:Before the close of April a great commercial crisis had taken place in England, and Ministers were compelled to make a new issue, by consent of Parliament, of five millions of Exchequer Bills, to assist merchants and manufacturers, under proper security. The sudden expansion of industry which was met by an undue increase of the paper currency rather than bullion, combined[417] with reckless banking, produced the crisis. It was calculated that out of the 350 provincial banks 100 failed. In the circumstances the issue of Exchange Bills was a most successful makeshift.