FORE:Lord Palmerston and Mr. Poulett Thompson treated the apprehensions of Lord Dudley Stuart as visionary, and expressed their conviction that there was nothing in the conduct of the Czar to excite either alarm or hostility in Great Britain. Their real opinions were very different. A few days later an event occurred which showed how little Russia was to be relied upon; and that it was impossible to restrain her aggressive propensities, even by the most solemn treaty obligations, undertaken in the face of Europe, and guaranteed by the Great Powers. Cracow, which comprised a small territory about 490 square miles in extent, with a population of about 123,000, including the city, was at the general settlement in 1815 formed into a free State, whose independence was guaranteed by the Treaty of Vienna in the following terms:"The town of Cracow, with its territory, is declared to be for ever a free, independent, and strictly neutral city, under the protection of Russia, Austria, and Prussia." During the insurrection of Poland in 1830 the little State of Cracow could not repress its sympathies, and the news of the outbreak was received there with the greatest enthusiasm. After the destruction of the Polish army, persons who were compromised by the revolt sought an asylum in Cracow; and 2,000 political refugees were found settled there in 1836. This served as a pretext for the military occupation of the city in February of that year, notwithstanding the joint guarantee that it should never be entered by a foreign army. This was only a prelude to the ultimate extinction of its independence, which occurred ten years later. Lord Palmerston launched a vigorous protest, but it had no result.On the 20th of August the Appropriation Bill and other measures of routine having been carried through with great triumph by the Ministry, the king prorogued the Parliament, which did not meet again till the 25th of January following. Fox came into the new Parliament in a very remarkable and anomalous position. In the election for Westminster, the candidates had been, besides himself, Admiral Lord Hood and Sir Cecil Wray. The election was of the most violent kind, distinguished by drunkenness, riot, and gross abuses. It continued from April the 1st to[309] the 16th of May, and the numbers on the poll-books, at its termination, stood as follows:For Lord Hood, 6,694; for Fox, 6,233; for Sir Cecil Wray, 5,598. The Prince of Wales had shown himself one of the most ardent partisans of Fox, all the more, no doubt, because Fox was detested by the king. The prince had displayed from his carriage the "Fox favour and laurel," and, at the conclusion of the poll, had given a grand fte at Carlton House to more than six hundred Foxites, all wearing "blue and buff." The Duchess of Devonshire and other lady politicians also gave Fox substantial help. But Fox was not allowed to triumph so easily. The Tory candidate, Sir Cecil Wray, as was well understood, instigated and supported by the Government, demanded a scrutiny; and Corbett, the high bailiff, in the circumstances, could make no return of representatives for Westminster. As a scrutiny in so populous a district, and with the impediments which Government and its secret service money could throw in the way, might drag on for a long period, and thus, as Government intended, keep Fox out of Parliament, he got himself, for the time, returned for a small Scottish borough, to the no small amusement of his enemies.
FORE:This, though it was a severe blow to our trade, was but a small part of the damage which the active spirit of Florida Blanca did us. He promoted with all his energies the system of armed neutrality which had long been projected on the Continent to cripple our power. England knew that if she permitted this process, there was little chance of her bringing any of her antagonists to terms; she therefore insisted rigidly on the right of search, and on the seizure of all such contraband articles under whatever flag they were conveyed. Not only did Holland supply France and Spain in Europe, but she allowed the American privateers to carry their English prizes into their West Indian ports for sale. All this time Holland was not only bound by the most immense obligations to Great Britain for the millions of money and the tens of thousands of men whom we had sacrificed for the security of her independence against France, but she was also bound by treaty to furnish us certain aids when we were attacked by France. From the year 1778 Sir Joseph Yorke, our Ambassador at the Hague, had made continual remonstrances against this clandestine trade with our enemies; and France, on the other hand, had, by alternate menaces and persuasions, exerted herself to induce the Dutch to set England at defiance. In this she succeeded to a great extent. Much correspondence ensued, the Dutch maintaining a specious neutrality, but still continuing to carry timber and naval stores to France. Sir Joseph Yorke was therefore instructed to demand from the States the succours stipulated by treaties, and which might have been demanded the moment that France declared war against England. On the 26th of November, 1779, he received not only a positive refusal, but a fresh complaint of the interruption of their trade by English men-of-war.
FORE:Such was the state of affairs at home and abroad during the recess of 1829. The Government hoped that by the mollifying influence of time the rancour of the Tory party would be mitigated, and that by the proposal of useful measures the Whig leaders would be induced to give them their support, without being admitted to a partnership in power and the emoluments of office. But in both respects they miscalculated. The Duke met Parliament again on the 4th of February, 1830. It was obvious from the first that neither was Tory rancour appeased nor Whig support effectually secured. The Speech from the Throne, which was delivered by commission, was unusually curt and vague. It admitted the prevalence of general distress. It was true that the exports in the last year of British produce and manufacture exceeded those of any former year; but, notwithstanding this indication of an active commerce, both the agricultural and the manufacturing classes were suffering severely in "some parts" of the United Kingdom. There was no question about the existence of distress; the only difference was as to whether it was general or only partial. In the House of Lords the Government was attacked by Earl Stanhope, who moved an amendment to the Address. He asked in what part of the country was it that the Ministers did not find distress prevailing? He contended that the kingdom was in a state of universal distress, likely to be unequalled in its duration. All the great interestsagriculture, manufactures, trade, and commercehad never at one time, he said, been at so low an ebb. The Speech ascribed the distress to a bad harvest. But could a bad harvest make corn cheap? It was the excessive reduction of prices which was felt to be the great evil. If they cast their eyes around they would see the counties pouring on them spontaneously every kind of solicitation for relief; while in towns, stocks of every kind had sunk in value forty per cent. The depression, he contended, had been continuous and universal ever since the Bank Restriction Act passed, and especially since the suppression of small notes took effect in the beginning of the previous year. Such a universal and continued depression could be ascribed only to some cause pressing alike upon all branches of industry, and that cause was to be found in the enormous contraction of the currency, the Bank of England notes in circulation having been reduced from thirty to twenty millions, and the country bankers' notes in still greater proportion. The Duke of Wellington, in reply, denied that the Bank circulation was less than it had been during the war. In the former period it was sixty-four millions, including gold and silver as well as paper. In 1830 it was sixty-five millions. It was an unlimited circulation, he said, that the Opposition required; in other words, it was wished to give certain individuals, not the Crown, the power of coining in the shape of paper, and of producing a fictitious capital. Capital was always forthcoming[308] when it was wanted. He referred to the high rents paid for shops in towns, which were everywhere enlarged or improved, to "the elegant streets and villas which were springing up around the metropolis, and all our great towns, to show that the country was not falling, but improving." After the Duke had replied, the supporters of the amendment could not muster, on a division, a larger minority than nine. In the House of Commons the discussion was more spirited, and the division more ominous of the fate of the Ministry. The majority for Ministers was only fifty-three, the numbers being 158 to 105. In the minority were found ultra-Tories, such as Sir Edward Knatchbull, who had proposed an amendment lamenting the general distress, Mr. Bankes, Mr. Sadler, and General Gascoigne, who went into the same lobby with Sir Francis Burdett, Lord John Russell, Mr. Brougham, Mr. Hume, and Lord Althorp, representing the Whigs and Radicals; while Lord Palmerston, Mr. Huskisson, Mr. Charles Grant, and Sir Stratford Canning represented the Canning party. No such jumble of factions had been known in any division for many years.The affair was now becoming serious, and Hastings demanded to be heard at the bar, where he appeared on the 1st of May, and read a long and wearisome defence, which did not go to a denial of the charges, but a justification of them, from the need of money to save India, and from the approbation awarded to these actions both in India and at the India House. On the 1st of June Burke brought forward his first chargethe Rohilla war. The debate was not finished till seven o'clock on the morning of the 3rd. The motion was rejected by one hundred and nineteen against sixty-seven, and it was fondly hoped that the proceedings against Hastings were altogether crushed. Lord Thurlow advised the king to carry out his intention to make Hastings Baron Daylesford, and the talk in the clubs and West End assemblies was the triumph of Hastings. But the rejoicing was premature. On the 13th of June Fox took up the second chargethe treatment of Cheyte Sing and Francis, with all the bitterness of his character, and of his hatred of Hastings, supported it. So black were the facts now produced that Pitt was compelled to give way. He defended the Governor-General for calling on Cheyte Sing to contribute men and money for the war against Mysore; he lauded the firmness, decision and ability of Hastings, but he was forced to admit that he had been excessive in his demands, and must support the charge.
THREE:The population of Great Britain had thus rapidly increased, and the condition of the people had improved, notwithstanding heavy taxation, and the burden of an enormous National Debt, incurred by one of the most protracted and expensive wars on record, which strained the national energies to the uttermost. How vast, then, must have been the national resources by which all demands were met, leaving the State stronger and wealthier than ever! The extent of these resources is shown in some measure by the amount of our exports. The total declared value of all British and Irish produce and manufactures exported in 1831 was 37,164,372; in 1841 the value of exports had increased to 51,634,623, being at the rate of 38?9 per cent. Another example of the greatly increased commerce of the country is afforded by the returns of shipping. In 1831 the number of ships, British and foreign, engaged in the colonial and foreign trades was 20,573, of which the total tonnage amounted to 3,241,927. In 1841 the number of ships had increased to 28,052, and the tonnage to 4,652,376, giving an increase of 43 per cent. In the former year the tonnage employed in our coasting trade amounted to 9,419,681; in the latter it had increased to 11,417,991, showing an increase of 20 per cent. But other indications of national wealth were referred to by the Census Commissioners of 1841. During the same period the accumulations in savings-banks were very large, and went on increasing. In 1831 there were nearly 500,000 depositors, whose deposits amounted to about 14,000,000. In 1841 it was found that both the depositors and the amount deposited had very nearly doubled. From the[418] proceeds of the property tax, which in 1815 was about 52,000,000, and in 1842 over 82,000,000, an estimate has been formed, in the absence of returns, for the years 1831 and 1841, which sets down the increase of real property during that period as not less than from 20 to 25 per cent. In 1815 the annual profits of trades in England and Wales were assessed at 35,000,000 in round numbers, and in 1841 they had increased to 50,000,000. During the decennial period, 1831-41, legacy duty had been paid upon a capital of about 423,000,000, or more than one-half the aggregate amount upon which the duty had been paid in the thirty-four preceding years. The stamp duties, also, upon probates of wills and letters of administration in the United Kingdom amounted to upwards of 1,000,000, having increased in ten years at the rate of 10 per cent.
THREE:The year 1797 was opened by the suspension of cash payments. The Bank of England had repeatedly represented to Pitt, as Chancellor of the Exchequer, that his enormous demands upon it for specie, as well as paper money, had nearly exhausted its coffers and could not long be continued. The payment of our armies abroad, and the advances to foreign kings, were necessarily made[455] in cash. The Government, in spite of enormous taxation, had already overdrawn its account eleven million six hundred and sixty-eight thousand eight hundred pounds, and the sole balance in the hands of the Bank was reduced to three million eight hundred and twenty-six thousand eight hundred and ninety pounds. Pitt was demanding a fresh loan for Ireland, when a message came from the Bank to say that, in existing circumstances, it could not be complied with. Thus suddenly pulled up, the Privy Council was summoned, and it was concluded to issue an order for stopping all further issue of cash, except to the Government, and except one hundred thousand pounds for the accommodation of private bankers and traders. Paper money was made a legal tender to all other parties, and the Bank was empowered to issue small notes for the accommodation of the public instead of guineas. A Bill was passed for the purpose, and that it might not be considered more than a temporary measure, it was made operative only till June; but it was renewed from time to time by fresh Acts of Parliament. The system was not abolished again till 1819, when Sir Robert Peel brought in his Bill for the resumption of cash payments, and during the whole of that time the depreciation of paper money was comparatively slight.
