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THREE:The enemy's fleets being thus destroyed or shut up, Pitt determined on his great enterprise, the conquest of Canada. The idea was worthy of his genius. His feeble predecessors had suffered the French from this neighbouring colony to aspire to the conquest of our North American territory. They had built strong forts on the lakes and down the valley of the Ohio; they intended to connect them with the Mississippi, and then to drive us out of the country. Had not Pitt come into office they might probably have succeeded. But Pitt had already commenced the driving in of the French outposts, and he now planned the complete expulsion of that nation from their advanced posts and from Canada itself. His scheme had three parts, which were all to concentrate themselves into one grand effort��the taking of Quebec, the capital. It was a daring enterprise, for Canada was ably governed and defended by Marshal de Montcalm, a man of great military experience and talent, and highly esteemed for his noble character by the colonists and the Indians, vast tribes of whom he had won over to his interest by his courtesy and conciliatory manner, whilst the English had as much disgusted them by their haughty surliness. But Pitt had picked his men for the occasion, and especially for the grand coup-de-main, the taking of Quebec. He formed his whole plan himself, and though it was not perfect, and was greatly criticised by military men, it succeeded[133] though not in effecting the combination which he contemplated, in all its parts.The South Sea Company had immediately on the passing of the Bill proposed a subscription of one million, and this was so eagerly seized on that, instead of one, two millions were subscribed. To stimulate this already too feverish spirit in the public, the Company adopted the most false and unjustifiable means. They had eight millions and a half to pay over to Government as a douceur for granting them the management of the Funds; and, therefore, to bring this in rapidly, they propagated the most lying rumours. It was industriously circulated that Lord Stanhope had received overtures at Paris to exchange Gibraltar and Port Mahon for invaluable gold lands in Peru! The South Sea trade was vaunted as a source of boundless wealth in itself. In August the stock had risen from the one hundred and thirty of the last winter to one thousand! Men sold houses and land to become shareholders; merchants of eminence neglected their affairs and crippled their resources to reap imaginary profits. The Company flattered the delusion to the utmost. They opened a third, and even a fourth subscription, larger than the former, and passed a resolution that from next Christmas their yearly dividend should not be less than fifty per cent.! In labouring to increase the public delusion they seem to have caught the contagion themselves, for they began to act, not like men who were blowing a bubble which they knew must speedily burst, but like persons who had mounted permanently into the very highest seat of prosperous power. They assumed the most arrogant and overbearing manner, even towards men of the highest station and influence. "We have made them kings," said a member of Parliament, "and they deal with everybody as such."