He despatched a squadron of ten ships of the line to the Mediterranean, under Admiral Haddock; another strong squadron sailed for the West Indies; letters of marque and reprisal were issued to the merchants; and troops and stores were forwarded to Georgia, which the Spaniards had threatened to invade. He gave directions to all merchants in Spanish ports to register their goods with a public notary in case of a rupture. These measures produced a rapid change of tone at the Spanish Court. On comparing the demands on both sides for damages sustained in commerce, there appeared a balance in favour of England of two hundred thousand pounds. Against this, the Spaniards demanded sixty thousand pounds in compensation for the ships taken by Admiral Byng in 1718a claim which Stanhope would never allow, but which had been recognised in the Treaty of Seville, and was now, therefore, acknowledged. This reduced the sum to a hundred and forty thousand pounds, which the Spanish Court proposed should be paid by assignments on the American revenues. This, the Ministers were well aware, might involve the most endless delays and uncertainties, and they certainly showed a most conceding spirit by allowing a deduction of forty-five thousand pounds for prompt payment at Madrid. The sum was now reduced to ninety-five thousand pounds; and this being agreed to, a convention was signed on the 14th of January, 1739.
Director
CARLTON HOUSE, LONDON (1812).Sir Francis Burdett once wrote a letter of a single sentence to his friend Lord Cloncurry, as follows:"Dear Lord Cloncurry, I should like to know what you think would allay Irish agitation? Yours truly, F. B." It would have taken a volume to answer this question, and perhaps, after all, Sir Francis Burdett would not have been satisfied. George IV. thought that his visit would have had that effect, and appearances for a time seemed to justify his sanguine anticipations. The visit had been long meditated. He set out on a yachting excursion soon after the coronation, and arrived at Plymouth on the 1st of August amidst the huzzas of an immense concourse of people. On the following day the royal squadron departed for Ireland, and anchored in the bay at Holyhead on the 7th. The news of his approach threw the people of Dublin into a paroxysm of joy, to which the newspapers of the day gave expression in the most extravagant terms. The blessing that awaited them seemed too great to be realised. Never had they comforted their hours of despondency or flattered themselves in seasons of imagined felicity, with anything approaching to the reality which fortune was about to shower upon them. The king's name, they declared, was more to them than a tower of strength; it had effected what neither patriots, philosophers, nor moralists could ever accomplish."I recommend you to take into your early consideration whether the principles on which you have acted may not with advantage be yet more extensively applied; and whether it may not be in your power, after a careful review of the existing[521] duties upon many articles, the produce or manufacture of other countries, to make such further reductions and remissions as may tend to ensure the continuance of the great benefits to which I have adverted, and, by enlarging our commercial intercourse, to strengthen the bonds of amity with foreign Powers."WATERLOO VIEWS.Whilst these events had been passing in Austria and Bavaria, the King of England had endeavoured to make a powerful diversion in the Netherlands. Under the plea of this movement sixteen thousand British troops were embarked in April for the Netherlands; but they were first employed to overawe Prussia, which was in contention with Hanover regarding the Duchy of Mecklenburg. There were other causes of dispute between Prussia and the Elector of Hanover. George having now this strong British force, besides sixteen thousand Hanoverian troops and six thousand auxiliary Hessians, Frederick thought proper to come to terms with him, and, in consequence of mutual arrangements, the Hanoverian troops quitted Mecklenburg, and George, feeling Hanover safe, marched this united force to the Netherlands to join the British ones. He expected the Dutch to co-operate with him and the Austrians, and strike a decided blow at France. But the Earl of Stair, who was to command these forces, and who was at the same time ambassador to the States, found it impossible to induce the Dutch to act. They had increased their forces both by sea and land, but they were afraid of the vicinity of the French, and were, with their usual jealousy, by no means pleased to see the English assuming power in the Netherlands. Therefore, after making a great demonstration of an attempt on the French frontier with the united army, the project was suddenly abandoned, and the troops retired into winter quarters. But little was accomplished during this year by the British fleet.But we have far overshot the contemporary history of Bengal. The Presidency thought it had greatly benefited by the reforms of Clive; yet it had since been called upon to furnish large supplies of men and money to support the unprincipled transactions at Madras, which we have briefly detailed, and the India House, instead of paying the usual dividends, was compelled to reduce them. Further, a terrible famine devastated Bengal, and more than half the population are said to have been swept away. This state of things compelled Parliament to turn its attention to India. General Burgoyne, now active in the Opposition, moved and carried, on the 13th of April, 1772, a resolution for the appointment of a select Committee of thirteen members to inquire into Indian affairs; and Burgoyne, who was extremely hostile to Clive, was appointed chairman. The committee went actively to work, and presented two reports during the Session. After Parliament met again in November, Lord North, who had conversed with Clive during the recess, called for and carried a resolution for another and this time a secret committee. As the Company was in still deeper difficulties, and came to Lord North to borrow a million and a half, he lent them one million four hundred thousand pounds, on condition that they should keep their dividends at six per cent. until this debt was repaid, and afterwards at eight per cent. He at the same time relieved them from the payment of the four hundred thousand pounds per annum, imposed by Lord Chatham, for the same period. This was done in February, 1773, and in April he brought in a Bill at the suggestion of Clive, who represented the Court of Proprietors at the India House as a regular bear-garden, on account of men of small capital and smaller intelligence being enabled to vote. By North's Bill it was provided that the Court of Directors should, in future, instead of being annually elected, remain in office four years; instead of five hundred pounds stock qualifying for a vote in the Court of Proprietors, one thousand pounds should alone give a vote; three thousand pounds, two votes; and six thousand pounds, three votes. The Mayor's Court in Calcutta was restricted to petty cases of trade; and a Supreme Court was established, to consist of a Chief Justice and three puisne judges, appointed by the Crown. The Governor-General of Bengal was made Governor-General of India. These nominations were to continue for five years, and then to return to the Directors, but subject to the approval of the Crown. Whilst the Bill was in progress, the members of the new Council were named. Warren Hastings was appointed the first Governor-General; and in his Council were Richard Barwell, who was already out there, General Clavering, the Honourable Colonel Monson, and Philip Francis.[323] Another clause of Lord North's Bill remitted the drawback on the Company's teas for export to America, an act little thought of at the time, but pregnant with the loss of the Transatlantic colonies. By these "regulating acts," too, as they were called, the Governor-General, members of Council, and judges, were prohibited from trading, and no person in the service of the king or Company was to be allowed to receive presents from native princes, nabobs, or their ministers or agents. Violent and rude, even, was the opposition raised by the India House and all its partisans to these two Bills.In 1820 the amount of revenue paid into the exchequer as the produce of taxation was 54,000,000. The interest upon the National Debt was 31,000,000, and the sums applied to the redemption of public debt were about 2,000,000. At the same time the current annual expenditure was 21,000,000. The revenue increased to 59,000,000 in 1824, after which it declined to 50,000,000 in 1830, when the annual expenditure was reduced to 18,000,000. In 1840 the revenue was 47,000,000, and the interest on the public debt 29,000,000; the total amount paid and expended being 49,000,000.