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Walpole, however, continued to oppose the South Sea Bill in the Commons, declaring that the terms were too extravagant ever to be fulfilled; that the experiment could result in nothing but a fearful increase of the costs of stockjobbing, and final confusion and ruin. He insisted that, before the proposals of the Company were accepted,[47] the rise of their stock should be limited, and every means taken to prevent the fever of infatuation that would ensue from the promise of dividends out of funds which could never be realised. He proposed for this purpose the introduction of a clause fixing the number of years' purchase to be granted to the annuitants of the South Sea Company; but to this it was objected that it was the interest of the Company to take up the annuities; and, as the annuitants had the power of coming in or not, as they pleased, the Company would, of course, offer advantageous terms, and, therefore, the whole affair might be safely left to private adjustment. Aislabie added that the South Sea Company would not submit to be controlled in an undertaking they were to pay so dear for. The Bill passed both Houses.

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THREE:GREAT SEAL OF GEORGE I.

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THREE:As for Spain, she abandoned all designs on Portugal, and restored the colony of Sacramento; and she surrendered every point on which her declaration of war against England was basednamely, the right to fish on the coast of Newfoundland; the refusal to allow us to cut logwood in Honduras; and to admit the settlement of questions of capture by our courts of law.
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TWO:At length the Sikhs moved on to meet the British on the 18th of December. When they came in sight, the British bugles sounded, and the wearied soldiers, who had been lying on the ground, started up and stood to their arms. The Governor-General and the Commander-in-Chief rode from regiment to regiment, cheering the spirits of their men, and rousing them to the needful pitch of valour by encouraging exhortations. About two miles from Moodkee, Gough, at the head of the advanced guard, found the enemy encamped behind sandy hillocks and jungle, 20,000 strong, with forty guns, which immediately opened fire as he approached. The battlefield was a sandy plain, on which the view was obstructed by small hills, which prevented the belligerents from seeing one another till they were quite near. For some time the contest was maintained on both sides by the artillery. Then General Gough ordered the advance of a column of cavalrythe 3rd Light Dragoons, the 5th Light Cavalry, and the 4th Lancers. The column was launched like an immense thunderbolt against a mass of Sikh cavalry, and proved so irresistible in its terrific onset that it broke them up into fragments, scattered them about, and swept along the whole line of the enemy, cutting down the gunners, and suspending for a time the roar of their artillery. Soon afterwards the infantry came into action, led on by Sir Harry Smith, General Gilbert, and Sir John M'Caskill. The Sikhs fought bravely and obstinately at every point; but when the steady incessant fire of the artillery had done its work, a general charge was made, with loud, exultant cheers, and the enemy were driven from their ground with tremendous loss. The day had closed upon the battlefield, but the routed enemy were pursued for a mile and a half by the light of the stars.In Britain there were terrible outcries in consequence of the scarcity of bread. There were rioting and plundering of corn-factors' and bakers' shops, and Government passed a number of Acts giving premiums on the importation of grain, and forbidding the making of any but mixed and coarse breads. Had not large subscriptions been raised, and private benevolence been called forth to an immense extent for the relief of the distress, the consequences would have been more terrible. Pitt was in favour of remedial legislation, but Grenville was against interfering with the laws of supply and demand.

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TWO:But besides nascent war, the Anti-Slavery movement of Wilberforce, Pitt's friend, was decidedly adverse to the expected increase of income. The Abolitionists had now begun to abandon the use of slave-grown sugar, and they proposed to extend this to all the produce of the West India islands, till the slave trade should be extirpated. This alarmed Pitt, as Chancellor of the Exchequer, and he prevailed on Wilberforce to discourage this project for awhile. The Abolition cause received serious injury from the frightful insurrection which had broken out in St. Domingo, and from the outrages which the insurgent blacks had perpetrated on the whites. Such were held up by the friends of slavery as the natural consequences of novel doctrines of philanthropy. What made[391] the matter more serious was, that Brissot and the worst of the Jacobins were the authors of these bloody tragedies, by their violent advocacy of the universal adoption of the Rights of Man. All these men were enthusiastic applauders of the English Abolitionists. Paine was a prominent Abolitionist; and Clarkson, the right hand of Wilberforce, was an equal admirer of the French Revolution, and gave serious offence by attending a dinner at the "Crown and Anchor," to celebrate the taking of the Bastille. These circumstances had a great effect when Wilberforce, on the 2nd of April, brought in his annual motion for the immediate abolition of the slave trade. Fox and Pitt eloquently supported him; but Dundas, now become Secretary of State, prevailed to introduce into the motion the words "gradual abolition." The Wilberforce party managed to carry a motion in the Commons, for the abolition of the trade to the West Indies, on the 1st of January, 1796; but this was thrown out in the Lords, where it was opposed by the Duke of Clarence, who had been in the West Indies, and thought the descriptions of the condition of the slaves overdrawn. It was also opposed by Thurlow, by Horsley, Bishop of St. Davids, and a considerable majority.At the approach of the new French levies, Eugene Beauharnais retreated from Magdeburg, and joined them on the Saale. The Allies and Napoleon now lay face to face, the Allies cutting off his advance towards Leipsic and thence to Dresden. He resolved to make a determined attack upon them, and demoralise them by a blow which should make him master of Leipsic, Dresden, and Berlin at once, and give its impression to the whole campaign. In the skirmishes which took place previous to the general engagement at Weissenfels and Poserna on the 29th of April and the 1st of May, Buonaparte gained some advantages; but in the latter action his old commander of the Imperial Guard, Marshal Bessires, was killed. His death was deeply lamented, both by his men, who had served under him from the very commencement of Buonaparte's career, and by Buonaparte himself.

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TWO:CHAPTER X. REIGN OF GEORGE III. (continued).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.

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TWO:The shameful length to which Congress carried this dishonourable shuffling astonished Europe. They insisted that Great Britain should give a formal ratification of the convention before they gave up the troops, though they allowed Burgoyne and a few of his officers to go home. The British Commissioners, who had arrived with full powers to settle any affair, offered immediately such ratification; but this did not arrest the slippery chicane of Congress. It declared that it would not be satisfied without ratification directly from the highest authority at home. In short, Congress, in open violation of the convention, detained the British troops for several years prisoners of war.

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THU 14 May, 2015
FORE:[See larger version]A great portion of the present Session was[143] occupied with discussing the return to cash payments, which, by the Act of Parliament, ought to take place on the 5th of July of this year. It appears that no less than fifty debates and conversations in both Houses took place on this important subject during the Session. Very soon after the meeting of Parliament a secret committee of each House was appointed to inquire into the state of the Bank. These committees were, however, so managed, by delivering to the members lists of suitable persons for such committees, that scarcely any but Ministerial men were voted, though these votes were given by ballot. In the Commons this result was so evident that the Opposition declined to vote at all. The first reports of the committees went rather to close more strictly than to open the issue of gold by the Bank. It had been paying in gold its notes issued previous to January, 1817. This payment it was proposed to stop, as, at present, evidently injurious to the interests of the country. Mr. Peel, on moving for a Bill for this purpose, stated that the gold at the present price was fast finding its way abroad, and was as rapidly absorbed in re-minting a gold coinage for France. It appeared that during the first half of 1818 gold to the value of no less than one hundred and twenty-eight million francs had been coined at the French mint, of which three-fourths were derived from the gold coinage of England. A Bill was accordingly passed to stop payment altogether in gold till the necessary preparations were made by a fresh Bill. Still, the condition of the Bank was represented as flourishing. Its liabilities were stated in January, 1819, as amounting to thirty-three million eight hundred and ninety-four thousand five hundred and eighty pounds; its assets, including the debt due from Government, fifty-three million seven hundred and eighty-three thousand seven hundred pounds. The total Bank surplus appeared to be nineteen million eight hundred and eighty-nine thousand one hundred and twenty pounds; and its surplus, independent of the Government debt, and therefore available for current use, was five million two hundred and two thousand three hundred and twenty pounds. The committees adopted the scheme broached by Mr. Ricardo in his "Proposals for an Economical and Secure Currency," published in 1816. This was that the Bank, in the first instance, should not pay for its notes in gold coin, but in ingots of a certain weight, its fineness being attested by a stamp; and this degree of purity should be regulated from time to time till the gold descended to the Mint price of three pounds seventeen shillings and tenpence-halfpenny per ounce. When the Mint gold at length reached this rate of value, then the payment in coin was to be begun. Resolutions to this effect were moved by the Earl of Harrowby on the 21st of May, and they received the approval, not only of the Ministerial side, but of the leading Opposition members, Lords Grenville, Lansdowne, and King.

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THU 14 May, 2015
FORE:The coronation was a magnificent ceremonial, and during the proceedings in the Abbey, Westminster Hall was being prepared for the banquet. There were three tables on each side, each table having covers for fifty-six persons, and each person having before him a silver plate. The other plate was entirely of gold. The dishes served up were all cold, consisting of fowls, tongues, pies, and a profusion of sweetmeats, with conserves and fruit of every kind. At twenty minutes to four o'clock the gates were thrown open to admit the procession on its return. Seen from the opposite end of the hall, the effect was magnificent as the procession passed under the triumphal arch. On the entrance of the king he was received with loud and continued acclamations. His Majesty being seated at the banquet, the first course came with a grand procession, which the king seemed to regard with great satisfaction. The Duke of Wellington, as Lord High Constable, the Marquis of Anglesey, as Lord High Steward, and the Deputy Earl Marshal, Lord Howard of Effingham, mounted on horses, and attended by their pages and grooms, advanced to the foot of the platform; the horsemen stopped while the clerks of the kitchen advanced to the royal table, and took the dishes from the gentlemen pensioners. Then the whole procession moved back, the horsemen backing their chargers with the greatest precision, amidst loud applause. The first course having been removed, a flourish of trumpets was heard at the bottom of the hall, the great gates were instantly thrown wide open, and the champion, Mr. Dymoke, made his appearance under the Gothic archway, mounted on his piebald charger, accompanied on the right by the Duke of Wellington, and on the left by Lord Howard of Effingham, and attended by trumpeters and an esquire. The usual challenges were given. Some other ceremonies having been gone through, the king's health was proposed by one of the peers, and drunk with acclamation. The National Anthem was then sung, after which the king rose and said, "The king thanks his peers for drinking his health and does them the honour of drinking their health and that of his good people." Shortly afterwards his Majesty quitted the hall and returned to his palace in his private carriage, attended by his usual body-guard.

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THU 14 May, 2015
FORE:Dr. Curtis, the Roman Catholic Primate, was an old friend of the Duke of Wellington, whom he had known during the war in the Peninsula, and with whom he had kept up a confidential correspondence on the subject of the Catholic claims, on the state of the country, on the disposition of the Roman Catholics in the army,[290] and other matters of the kind. On the 11th of December the Duke, in answer to a letter urging the prompt settlement of the Catholic question, wrote to Dr. Curtis as follows: "I have received your letter of the 4th instant, and I assure you that you do me justice in believing that I am sincerely anxious to witness the settlement of the Roman Catholic question, which, by benefiting the State, would confer a benefit on every individual belonging to it. But I confess that I see no prospect of such a settlement. Party has been mixed up with the consideration of the question to such a degree, and such violence pervades every discussion of it, that it is impossible to expect to prevail upon men to consider it dispassionately. If we could bury it in oblivion for a short time, and employ that time diligently in the consideration of its difficulties on all sides (for they are very great), I should not despair of seeing a satisfactory remedy."

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It was now proposed that as the Orange leaders had violated the law as much as the Dorsetshire labourers, they should be dealt with in the same manner, and that if evidence could be obtained, the Duke of Cumberland, Lord Kenyon, the Bishop of Salisbury, Colonel Fairman, and the rest should be prosecuted in the Central Criminal Court. There was an Orangeman, named Heywood, who had betrayed his confederates, and was about to be prosecuted by them for libel. The opponents of the Orangemen, believing his allegations to be borne out by the evidence given before the committee, resolved to have him defended by able counsel, retaining for the purpose Serjeant Wilde, Mr. Charles Austen, and Mr. Charles Buller. All the necessary preparations were made for the trial, when Heywood suddenly died, having broken a blood-vessel through agitation of mind, and alarm lest he should somehow become the victim of an association so powerful, whose vengeance he had excited by what they denounced as treachery and calumny. The criminal proceedings, therefore, were abandoned. Almost immediately after the opening of Parliament in February, 1836, Mr. Finn and Mr. Hume again made a statement in the House of Commons of the whole case against the Duke of Cumberland and the Orange Society, and proposed a resolution which seemed but a just consequence of their terrible indictment. The resolution declared the abhorrence of Parliament of all such secret political associations, and proposed an Address to the king requesting him to cause the dismissal of all Orangemen and members of any other secret political association from all offices civil and military, unless they ceased to be members of such societies within one month after the issuing of a proclamation to that effect. Lord John Russell proposed a middle course, and moved, as an amendment, an Address to the king praying that his Majesty would take such measures as should be effectual for the suppression of the societies in question. Mr. Hume having withdrawn his resolution, the amendment was adopted unanimously. The king expressed concurrence with the Commons; a copy of his reply was sent to the Duke of Cumberland, as Grand Master, by the Home Secretary. The duke immediately sent an intimation that before the last debate in the Commons he had recommended the dissolution of the Orange societies in Ireland, and that he would immediately proceed to dissolve all such societies elsewhere. "In a few days," Harriet Martineau remarked, "the thing was done, and Orangeism became a matter of history."Some of the writers of the last period were still existing in this. Dryden was living, and wrote some of his most perfect works, as his "Fables," and his "Alexander's Feast," as well as translated Virgil after the Revolution. He was still hampered by his miserable but far more successful dramatic rivals, Shadwell and Elkanah Settle. Nathaniel Lee produced in William's time his tragedies, "The Princess of Cleves," and his "Massacre of Paris." Etherege was yet alive; Wycherley still poured out his licentious poems; and Southern wrote the greater part of his plays. His "Oronooko" and his "Fatal Marriage" were produced now, and he received such prices as astonished Dryden. Whilst "Glorious John" never obtained more than a hundred pounds for a play, Southern obtained his six or seven hundred.
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