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Company Logo TWO:John Gay, a contemporary of Pope, Swift, and Arbuthnot, is now best known by his "Fables" and his "Beggar's Opera." His "Fables" have been extremely popular, and still make him a general name; but, in his own time, his "Beggar's Opera" was his great success. Its wit, its charming music, its popular characters, gave it a universal favour; and it is the only English opera that even to this time has become permanent. Gay's "Trivia; or, the Art of Walking the Streets of London," is still amusing, and some of his ballads have a lightness and buoyancy about them which justify the esteem in which he was held.Mr. Goulburn's financial statement was made on the 8th of May, 1844. It comprised some small reductions of taxation, and the foretaste of an important modification of the sugar duties. As a money account it was encouraging, and showed some progress in diminishing the disastrous effects of Whig finance. The past financial year had witnessed a gross surplus of revenue over expenditure of more than 4,000,000; or, after paying the deficiency of the previous year, 2,400,000; and after making other deductions there was, for the first time for many years, an available surplus, amounting to 1,400,000. The anticipated good effects of relieving industry from burdensome taxes had been more than realised. The estimate of the revenue had actually been exceeded by 2,700,000. The Budget, therefore, fully justified the policy of 1842; but the Chancellor of the Exchequer ventured only on a small and timid extension of the principles then laid down, with the reduction or abolition of duty on flint-glass, currants, wool, and some other minor matters. The abolition of the wool duty provoked new hostility to the impolitic duty on cotton. The concession to Free Trade principles was small; but the movement was kept up, and there was at least no sign of reaction.
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TWO:Immediately after this engagement Blucher was joined by part of the grand army, under the Prince of Würtemberg; he therefore determined to attack Napoleon, and on the 1st of February drew out his forces. Napoleon would have declined the engagement; but he had the deep river Aube in his rear, and only the bridge of Lesmont by which to pass it. He preferred, on this account, to risk the battle, rather than retreat in such circumstances. Blucher attacked at once from the villages of La Rothire, Dienville, and Chaumont. The battle was severely contested for the whole day, the Prince of Würtemberg greatly distinguishing himself in it. In the end Buonaparte was wholly defeated, lost four thousand prisoners and seventy-three guns, and must have been captured himself, had not the Austrians, by surprising slowness, allowed him to escape over the bridge. He then retreated towards Troyes, where he was joined by his Imperial Guard; but his losses had been very heavy. Had Blucher and Schwarzenberg, who had now met, marched on united, they must have been in Paris in a very short time; but, with the German fatality of dividing, they had no sooner experienced the benefit of a powerful union than they called a council at the chateau of Brienne, and agreed to separate again. Blucher, joining to his own the divisions of Yorck and Kleist, proceeded towards Paris by the Marne, and Prince Schwarzenberg followed the course of the Seine.

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THREE:CHAPTER III. REIGN OF GEORGE III. (concluded).

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THREE:Parliament, which had been prorogued for a few days on account of the demise of the king, assembled on the 18th of November. The king delivered a speech, composed by Lord Hardwicke, and revised by Pitt, and containing a passage, said to be inserted by himself, as follows:"Born and educated in this country, I glory in the name of Briton!" In the addresses these words produced the most enthusiastic responses. "What a lustre," exclaimed the Lords, "doth it cast upon the name of Briton, when you, sir, are pleased to esteem it amongst your glories!" For the rest, the speech expressed the royal determination to prosecute the war with all vigour; praised the magnanimity and perseverance of his good brother, the King of Prussia; and recommended unanimity of action and opinion in Parliament. Nothing could appear more unanimous or more liberal than Parliament.

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TWO:WATERLOO VIEWS.As it was now clearly useless to endeavour to prevent these desperate hordes from crossing the Nerbudda, it was determined to march into their own retreats beyond that river, and regularly hunt them down. Sir John Malcolm, one of our ablest officers, who has left us a most graphic account of these transactions, had just now returned from England, and he was appointed, with Major-General Marshall, to this service. Not only Cheetoo, but Kureem, was again on foot; and Sir John learnt that Cheetoo was posted near the camp of the Holkar Mahrattas, and had received a lac and sixty thousand rupees from the Peishwa. By this time he had advanced as far as Agra, but on this information he fell back on Oojein, where Sir Thomas Hislop lay with another body of troops. On the 21st of December, 1817, Holkar's army and Cheetoo's army made a united attack on the British at Mahidpore, on the banks of the Seepra. They were received with a murderous slaughter, and fled, leaving seventy pieces of artillery, all they had, and a great quantity of arms. They fled in confusion to Rampoora, a fortified town in Malwa. The British on their part had suffered severely, having one hundred and seventy-four killed, and six hundred and four wounded. Amongst these were thirty-five officers wounded, half of them severely. THREE:The affairs of England, menaced by invasion, were during this time compelling George to draw part of his forces homeward; it was, consequently, only the approach of winter which saved the towns of Flanders from the French. At the same time, the wily Prussian was in arms again, trusting to seize yet more of the Austrian territories, whilst the powerful ally of Maria Theresa was at once pressed by the fault of the Dutch and Austrians in Flanders, and at home by the Pretender. George, who, in spite of all remonstrances, had persisted, notwithstanding the domestic danger, in paying his annual visit to Hanover, was earnestly engaged, through Lord Harrington, in endeavouring to accomplish a peace between Prussia and Austria. Neither Frederick nor Maria Theresa, however, was in any haste to conclude peace. Frederick hoped to profit by the engagement of England with the French, and Maria Theresa held out, with some vague hopes of regaining Silesia through the money of England. But Frederick, on the 3rd of June, gained a decided victory over Prince Charles of Lorraine, throwing himself between the Austrians and the Saxons, whom the English subsidy had brought to their aid. In this battle of Hohen Friedberg the Austrians lost nine thousand men in killed and wounded, and had as many made prisoners. Prince Charles retreated into Bohemia, and was soon followed by Frederick, who fixed his camp at Chlum. Whilst another battle was impending, Maria Theresa, still undaunted, accompanied her husband to the Diet at Frankfort, where she had the satisfaction of seeing him elected Emperor of Germany on the 13th of September. The same month, however, her troops were again defeated by Frederick at Sohr, near the sources of the Elbe. The King of Prussia now offered to make peace, and Maria[92] Theresa rejected his overtures; but another victory over her combined army of Austrians and Saxons, which put Frederick in possession of Dresden, brought her to reason. A peace was concluded at Dresden on Christmas Day, by which Silesia was confirmed to Prussia, and Frederick, on his part, acknowledged the recent election of the Emperor Francis. King George had also entered into a secret treaty with Prussia; and Frederick, sending his army into winter quarters in Silesia, returned to Berlin, thence to ponder fresh schemes of aggrandisement.[See larger version]
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The Spanish Revolution had a marked effect on French politics. M. Thiers and his colleagues had been pressing for an effective intervention against Don Carlos; but they were unable to overcome the reluctance of the king to send a French army into Spain, even to sustain the rgime which the king had recognised and approved. This was completely superseded by the changes that had just taken place. He should now interpose, not to protect the reigning dynasty against pretenders, but to take part in a war between Constitutionalists and Liberals of different shades. When, therefore, Louis Philippe was asked to send aid to the French legion of volunteers serving as auxiliaries in Spain, and to adopt other measures against the Carlists, as the only means of preventing the queen's Government from being carried away by the torrent of revolution, he positively refused. Lord Palmerston, influenced by the continued ill-success of the Spanish Legion, made overtures to[413] the same effect, but without result. Louis Philippe was, in fact, listening to the overtures of Metternich, and inclined to desert the British alliance.Whilst Dumouriez had thus overrun the Netherlands, other French generals had been equally pushing on aggressions. Custine, with about twenty thousand men, had marched upon the German towns on the Rhine; had taken Spires, Worms, and Mayence by the 21st of October. These towns abounded with Democrats, who had imbibed the grand doctrine of the Rights of Man, and laboured, to their cost, under the same delusion as the Belgiansthat the French were coming solely for their liberation and advantage. Custine advanced to Frankfort-on-the-Main, which he plundered without mercy. Custine called loudly for co-operation from Kellermann; but Kellermann not complying, he was superseded by Beurnonville, who was ordered to take Trves. He attempted it, but too late in the season, and failed. Custine, who had advanced too far from the main army to support his position, still, however, garrisoned Frankfort with two thousand men, and took up his own quarters at Ober-Ursel and Homburg, a little below Frankfort, in the commencement of December.These arrangements having been made, the sovereigns of Russia and Prussia came over to London on a visit to the Prince Regent, and to take a look at that wonderful capital which had poured out such torrents of gold to bring up their armies to Paris. With them came the Duchess of Oldenburg, the sister of the Czar, the two sons of the King of Prussia, and a great number of the victorious field-marshals, generals, princes, dukes, barons, and the like. But the two grand favourites of the people were Platoff, whose Cossacks had charmed the British people so by their wild prowess, and the bluff old Marshal Blucher. This was a hero exactly after the British heartblunt, uncompromising, and, like the British, never knowing when he was beaten.In the course of this commercial madness the imports greatly exceeded the exports, and there was consequently a rapid drain of specie from the country. The drain of bullion from the Bank of England was immense. In August, 1823, it had 12,658,240, which in August, 1825, was reduced to 3,634,320, and before the end of the year it ran as low as 1,027,000. Between July, 1824, and August, 1825, twelve millions of cash were exported from Great Britain, chiefly to South America. During the Revolutionary war, which had lasted for fourteen years, the capital of the country had been completely exhausted, while all productive labour had been abandoned. The unworked mines were filled with water. They were accessible, it is true, to English speculators, but they were worked exclusively with English capital. The South American mining companies were so many conduits through which a rapid stream of gold flowed from Great Britain. The catastrophe that followed took the commercial world by surprise; even the Chancellor of the Exchequer failed to anticipate the disaster. On the contrary, his Budget of 1825 was based upon the most sanguine expectations for the future, and on the assurance that the public prosperity was the very reverse of what was ephemeral and peculiar, and that it arose from something inherent in the nation. Even at the prorogation of Parliament in July, the Royal Speech referred to the "great and growing" prosperity on which his Majesty had the happiness of congratulating the country at the beginning of the Session. The commercial crisis, however, with widespread ruin in its train, was fast coming upon Britain. Vast importations, intended to meet an undiminished demand at high prices, glutted all the markets, and caused prices to fall rapidly. Merchants sought accommodation from their bankers to meet pressing liabilities, that they might be enabled to hold over their goods till prices rallied. This accommodation the bankers were unable to afford, and sales were therefore effected at a ruinous loss. The South American mines, it was found, could not be worked at a profit, and they made no return for the twenty million pounds of British money which they had swallowed up. The effect was a sudden contraction of the currency, and a general stoppage of banking accommodation. The country banks, whose issues had risen to 14,000,000, were run upon till their specie was exhausted, and many of them were obliged to stop payment. The Plymouth Bank was the first to fail, and in the next three weeks seventy banks followed in rapid succession. The London houses were besieged from morning to night by clamorous crowds, all demanding gold for their notes. Consternation spread through all classes. There was a universal pressure of creditors upon debtors, the banks that survived being themselves upon the edge of the precipice; and the Bank of England itself, pushed to the last extremity, peremptorily refused accommodation even to their best customers. Persons worth one hundred thousand pounds could not command one hundred pounds; money seemed to have taken to itself wings and fled away, reducing a state of society in the highest degree artificial almost to the condition of primitive barbarism, which led Mr. Huskisson to exclaim, "We were within twenty-four hours of barter."CHAPTER XII. THE PROGRESS OF THE NATION DURING THE REIGNS OF GEORGE IV. AND WILLIAM IV.In Parliament, business was brought almost to a stand by the neutralising influences of the partisans of "All the Talents." Excepting on one or two points, no great majority could be obtained on any question. There was an attempt to censure the introduction of Lord Ellenborough, as Chief Justice of the King's Bench, into the Cabinet. It was contended that it was contrary to the principle, if not the letter, of the Constitution; that, besides a judge having enough to do on the Bench, he would have to sit as a judge on such appeals to the Privy Council which might be made thither against his own decisions; that, moreover, Lord Ellenborough had suddenly changed the whole principles of his life for the sake of advancement, and in the practice of his court had, by the most rude and insolent language, never hesitated to carry causes in favour of the Government and against the popular liberties. On the part of Government it was argued that, both in Queen Anne's reign and in that of George II., the Chief Justices had had a place in the Cabinet; and the subject was evaded by carrying the previous question.
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