THREE:Still more inglorious were the proceedings of our fleet on the coasts of the Spanish-American colonies. Sir Chaloner Ogle joined Vernon in Jamaica on the 9th of January, 1741, and no time was to be lost, for the wet season set in at the end of April, which, besides the deluges of rain, is attended by a most unhealthy state of the climate. Vernon, however, did not move till towards the end of the month, and then, instead of directing his course towards the Havannah, which lay to the leeward, and could have been reached in three days, he beat up against the wind to Hispaniola, in order to watch the motions of the French fleet under D'Antin. It was the 15th of February before he learned distinctly that the French had sailed for Europe in great distress for men and provisions. Now was the time to make his way to Cuba; but, instead of that, he called a council of warthe resource of a weak commander,which was followed by its almost invariable result, a contrariety of advice. It was at length concluded that, as Admiral Torres had now sailed for the Havannah, and thus closed the opportunity for its attack, the fleet should take in wood and water at Hispaniola, and make for the continent of New Spain. On the 4th of March the fleet came to anchor in Playa Grande, to the windward of Carthagena.The first proclamation issued by the Provisional Government was the following:"A retrograde Government has been overturned by the heroism of the people of Paris. This Government has fled, leaving behind it traces of blood, which will for ever forbid its return. The blood of the people has flowed, as in July; but, happily, it has not been shed in vain. It has secured a national and popular Government, in accordance with the rights, the progress, and the will of this great and generous people. A Provisional Government, at the call of the people, and some deputies, in the sitting of the 24th of February, is for the moment invested with the care of organising and securing the national victory. It is composed of MM. Dupont (de L'Eure), Lamartine, Crmieux, Arago, Ledru Rollin, and Garnier Pags. The secretaries to this Government are MM. Armand Marrast, Louis Blanc, and Ferdinand Flocon." Scarcely had the ex-king found a resting-place on British soil than every vestige of royalty was obliterated in France.
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THREE:In the House of Commons similar resolutions were moved on the 24th by Mr. Robert Peel, who, on this occasion, made the first of those candid admissions of new views which he afterwards repeated on the question of Catholic Emancipation, and finally on the abolition of the Corn Laws. This eminent statesman, though beginning his career in the ranks of Conservatism, had a mind capable of sacrificing prejudice to truth, though it was certain to procure him much obloquy and opposition from his former colleagues. He now frankly admitted that the evidence produced before the secret committee of the Commons, of which he had been a member, had greatly changed his views regarding the currency since in 1811 he opposed the resolutions of Mr. Horner, the chairman of the Bullion Committee. He now believed the doctrines of Mr. Horner to be mainly sound, and to represent the true nature of our monetary system; and, whilst making this confession, he had only to regret that he was compelled by his convictions to vote in opposition to the opinions of his venerated father. Several modifications were proposed during the debate, but there appeared so much unanimity in the House that no alterations were made, and the resolutions passed without a division. The resolutions were to this effect:That the restrictions on cash payments should continue till the 1st of May, 1822; that, meanwhile, the House should make provision for the gradual payment of ten millions of the fourteen millions due from the Government to the Bank; that, from the 1st of February, 1820, the Bank should take up its notes in gold ingots, stamped and assayed in quantities of not less than sixty ounces, and at a rate of eighty-one shillings per ounce. After the 1st of October of the same year the rate of gold should be reduced to seventy-nine shillings and sixpence per ounce; and again on the 1st of May, 1821, the price should be reduced to seventy-seven shillings and tenpence halfpenny per ounce; and at this rate of gold, on the 1st of May, 1822, the Bank should finally commence paying in the gold coin of the realm. Bills to this effect were introduced into both Houses by the Chancellor of the Exchequer and Mr. Peel, and were readily[144] passed; and such was the flourishing condition of the Bank that it did not wait for the full operation of the Act, but commenced paying in coin to any amount on the 1st of May, 1821.
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