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ONE:Among the most interesting of Plutarch��s religious writings is one entitled On the Delays in the Divine Vengeance. As might be expected from the name, it deals with a problem closely akin to that which ages before had been made the subject of such sublime imagery and such inconclusive reasoning by the author of the Book of Job. What troubled the Hebrew poet was the apparently undeserved suffering of the just. What the Greek moralist feels himself called on to explain is the apparent prosperity and impunity of the wicked. He will not for a moment admit that crime remains unavengeful; his object is to show why the retribution does not follow directly on the deed. And, in order to account for this, he adduces a number of very ingenious reasons. By acting deliberately rather than in blind anger, the gods wish to read us a useful lesson in patience and forbearance. Sometimes their object is to give the sinner an opportunity for repentance and amendment; or else they may be holding him in reserve for the performance of some beneficial work. At other times, their justice is delayed only that it may be manifested by some signal and striking form of retribution. In many cases, the final stroke has been preceded by long years of secret torment; and even where no suffering seems to be inflicted, the pangs of remorse may furnish a sufficient expiation. Or again, vengeance may be reserved for a future generation. Some persons hold that to267 visit the sins of the fathers on the children is unjust, but in this they are profoundly mistaken. Members of the same family and citizens of the same state are connected as parts of one organic whole; sharing in the benefits which accrue from the good deeds of their predecessors, it is right that they should also share in the responsibility for their crimes. Moreover, the posterity of the wicked inherit a sinful disposition which, as the gods can clearly foresee, would betray itself in overt acts were they not cut off in their youth. And it is equally an error to suppose that the original wrongdoers remain unaffected by the retribution which befalls their descendants. On the contrary, they witness it from the next world, where it adds poignancy to their remorse, and entails on them fresh penalties over and above those which they have already been doomed to suffer.It was at the close of 1719, when George I. returned from Hanover, that this Company proposed to Ministers to consolidate all the funds into one. It was strange that both Ministers and merchants could be deluded by the hope of enriching themselves by a share of the trade with the Spanish South American provinces, when Spain herself, in full enjoyment of them, was sunk into indigence and weakness, and presented the most determined resistance to the unfettered intercourse of any other nation with them. Yet Sir John Blunt, a leading director of the South Sea Company, persuaded the Ministers that by granting the Company power to deal with the public funds, and especially to buy up the unredeemable annuities which had been granted in the two preceding reigns, chiefly on terms of ninety-nine years, and which now amounted to about eight hundred thousand pounds a year, they could, in twenty-six years, pay off the entire National Debt. But, to enable them to do this, they must be empowered to reduce all the different public securities to one aggregate fund in their hands, to convert both redeemable and unredeemable debts into stock by such arrangements as they could make with the holders, and to have certain commercial privileges vested in them. Ministers accepted the proposals with great alacrity. Aislabie introduced the scheme to Parliament in the month of February, 1720, declaring that, if it was accepted by the House, the prosperity of the nation would be amazingly enhanced, and all its debts liquidated in a very few years. Craggs seconded the proposal in most sanguine terms, expressing his conviction that every member of the House must be ready to adopt so advantageous an offer. Ministers had already closed with the proposals of the Company, and they were themselves greatly disconcerted by the suggestion of Mr. Thomas Brodrick, the member for Stockbridge, who expressed his entire accordance with Ministers, but thought that the nation should endeavour to obtain the best terms for itself by opening the competition to every other company or association of men as well as that in question. Ministers were confounded by this proposal, and Aislabie endeavoured to get out of it by declaring that to do this would be like putting the nation up to auction, and that such things should be done with spirit. But Jekyll interposed, saying it was this spirit which had ruined the nation, and it was now requisite to consider seriously what was best for the public. A violent debate ensued, in which Walpole eloquently recommended open competition, and was sharply replied to by Lechmere. The question was carried in favour of competition; and then the Bank of England, which before had coolly declined to enter into the proposals, suddenly appeared in a new temper, and made liberal offers for the privilege of thus farming the public debts. But the South Sea Company was not to be outdone; it offered seven millions and a half, and the Bank gave way in despair.