ONE:If Pitt had possessed the far-seeing genius of his father Chatham, it was at this moment in his power, as the ally of Turkey, to have stepped in and given a blow to the ambitious designs of Russia which would have saved a far more arduous and costly effort for that very purpose afterwards. Russia had spared no pains to insult Britain, especially since the unfortunate contest on account of America. It was certain that if she once obtained Turkey she would become a most troublesome power in the Mediterranean; and it now required only the dispatch of a tolerable fleet to the Baltic, and of another to the Black Sea, to annihilate in a few days every vestige of her maritime force. Such a check would have caused her to recoil from her Eastern aggressions for the purpose of defending her very existence at home. Holland was bound to us by the re-establishment of the Prince of Orange, our fast friend, whom Pitt, with the assistance of Prussia, had restored to the throne, whence he had been driven by his democratic subjects, in spite of the assistance given to the rebels by France; we were at peace with Prussia; France was engrossed inextricably with her own affairs; Denmark was in terror of us; and Sweden longed for nothing so much as to take vengeance for Russian insults and invasions. Catherine's fleets destroyed, Sweden would have full opportunity to ravage her coasts, and to seek the recovery of her Finnish dominions. But Pitt contented himself with diplomacy. Instead of destroying the Russian fleet in the Baltic, or of attacking it in the Mediterranean the moment it commenced its operations on the Turkish dependencies, and then clearing the Black Sea of their ships, he contented himself with issuing a proclamation in the London Gazette, forbidding English seamen to enter any foreign service, and commanding the owners of the vessels engaged by Russia to renounce their contracts. Thus the fleet before Oczakoff was left to operate against the Turks, and the fleet in the Baltic was detained there.But you wouldnt expect anything to happen if youd seen all the reporters who have been hanging around the old estate. Why, one has slept in that hangar a couple of nights.
THREE:As a means of popularity, they insisted on the standing army being abolished in time of peace, on the strict limitation of placemen in Parliament, and on the return to triennial Parliaments. These were hard topics for the patriots now in power to digest. But the depression of trade continued, and no one could suggest a remedy but that of reducing taxation at the very time that all parties were zealous for the prosecution of the war. Finding no other solution to their difficulties, the public turned again to the demand of an inquiry into the administration of Walpole, hoping to lay bare in that the causes of their sufferings. Accordingly Lord Limerick, on the 23rd of March, rose and proposed a committee to inquire into the administration of Walpole, not for twenty, but for the last ten years. Pulteney not only voted, but spoke in favour of this motion, and it was carried by a majority of seven. Lord Limerick was chosen chairman, and such was the partial and vindictive spirit in which they went to work in examining papers and witnesses, that the honourable-minded Sir John Barnard, though so staunch an opponent of Walpole when in power, declared that he would no longer take part in the labours of a committee which displayed so little regard to the general inquiry, but concentrated all their efforts on the ruin of one individual.
THREE:Landor told him to get his cap and come out. He followed the shadows of the trees near the low commissary building, and they stood there, each behind a thick cottonwood trunk. Landor watched the light in Brewster's window. It disappeared before long, and they held their breaths. Ellton began to guess what was expected to happen. Yet Brewster himself did not come out.
THREE:The South Sea Company, with a folly of which extreme greed only is capable, endeavoured to put down these rival schemes and obtained an order from the Lords Justices and writs of scire facias against several of these new bubbles. It was like raising a wind to blow away the bubbles, forgetting that their own was a bubble too, and would go with them. The moment that the people began to distrust one they distrusted all. The panic became as great as the mania had been. The South Sea stock dropped in less than a month from one thousand to below six hundred. There was a simultaneous rush to sell out, and the shares must have sunk instantly to nil but for the gigantic exertions of the Company to raise money and buy in. The relief, however, was but temporary. The bankers and pawnbrokers who had advanced money on scrip broke and fled; merchants, goldsmiths, and speculators rushed away after them. Walpole was summoned in haste from Haughton to devise some means of staying the panic. He endeavoured to get the Bank of England to circulate three millions of South Sea bonds for a year; but the Bank, seeing that the case was desperate, declined it. This was decisive. The rage and despair of the swarming dupes were indescribable. They heaped[48] execrations not only on the South Sea Company, but on Ministers, the king, his mistresses, and the Royal Family, who had all been deep in the affair, and who had taken good care of themselves. George landed at Margate on the 9th of November, soon after which the South Sea stock fell to one hundred and thirty-five. On the 8th of December Parliament met, and promptly began to investigate the scandal.
