THREE:The Repeal organisation had therefore become exceedingly formidable, and had been rendered still more so by what O'Connell called "the mighty moral miracle of 5,000,000 men pledged against intoxicating liquors." If he had to go to battle, he said, he should have the strong and steady teetotallers with him. The teetotal bands "would play before them, and animate them in the time of peril; their wives and daughters, thanking God for their sobriety, would be praying for their safety; and he told them there was not an army in the world he could not beat with his teetotallers. Yes, teetotalism was the first sure ground on which rested their hope of sweeping away Saxon domination and giving Ireland to the Irish." O'Connell had been in the habit of wearing a crown-like cap, richly ornamented, which had been presented to him at the monster meeting at the Rath of Mullaghmast, in the county Kildare. This symbol of sovereignty had its effect upon the masses, who began to cherish the idea that they might have ere long a king of their own. It was probably with a view to encourage this idea, and to raise their enthusiasm to the highest pitch, that he resolved to hold the last of the series of monster meetings at Clontarf, near Dublin, the scene of King Brian Boru's victory over the Danes. This meeting was to be held on Sunday, the 8th of October, and was to be the most imposing of all the demonstrations. But the Government was at last roused to action, and on the previous day a proclamation was issued by the Lord-Lieutenant in Council, prohibiting the assembly. The proclamation declared that whereas advertisements and placards had been printed and extensively circulated, calling on those who proposed to attend the meeting to come on horseback, to meet and form in procession, and to march in military order and array; and whereas the object of the meeting was to excite discontent and disaffection, hatred and contempt of the Government of the country, and to accomplish alterations in the laws and Constitution of the realm, by intimidation and the demonstration of physical force, tending also to serve the ends of factious and seditious persons, and violate the peace, the meeting was strictly prohibited. It was stated that those attending it should be prosecuted, and that effectual measures should be taken for its dispersion.
THREE:The aggressive policy of the Holy Alliance, and the French invasion of Spain, despite England's remonstrances, provoked Mr. Canning to hasten the recognition of the revolted colonies in South America. It was in defending this policy that he uttered the memorable sentence so often quoted as a specimen of the sublime:"Contemplating Spain such as our ancestors had known her, I resolved that if France had Spain, it should not be Spain with the Indies. I called the New World into existence to redress the balance of the Old."
THREE:The new British Parliament met on November 26, and Ministers were seen to have a powerful majority. The king announced, in his speech from the throne, that hostilities had broken out in India with Tippoo, and that a peace had been effected between Russia and Sweden, and he mentioned the endeavours that were in progress for restoring amity between the Emperor of Austria and his subjects in the Netherlands. In the debate on the Address in the Commons, Fox appeared inclined still to laud France, and to condemn our interference in the Netherlands. His eyes were not yet opened to the real danger from France, whose example was indeed exciting popular disturbances in the Netherlands and in Poland. Already the doctrines of Liberty and Equality had reached the ears of the negroes in St. Domingo, who had risen to claim the rights of man so amiably proclaimed by France, and the troops of France were on their way thither to endeavour to put them down, in direct contradiction of their own boasted political philosophy. In the Lords, Earl Greythe father of the Whig statesmanon the 13th of December, called for the production of papers relating to Nootka Sound. The motion was negatived by two hundred and fifty-eight against one hundred and thirty-four votes. But the Marquis of Lansdowne contended that Spain had a right to the whole of the North American coast on which Nootka Sound is situated, and had had it since the reign of Queen Elizabeth. He asserted that we had insulted the weakness of Spain; and that Mr. Mears and the other projectors of the trading settlement of Nootka Sound were a set of young men of letters, seeking for novelties. He completely overlooked the provocations which[376] Spain had lately given us, and her endeavours to enter into a conjunction with France against us. He condemned Ministers for having alienated France, Spain, Russia, Denmark, and Sweden, overlooking the fact that they had made alliances with Prussia, Austria, Holland, and the Netherlands. Pitt's cousin, Lord Grenville, replied to this one-sided view of things, and proudly contrasted the position of Britain at this moment to what it was at the conclusion of the American War, when Lord Lansdowne himself, as Lord Shelburne, had been in the Ministry. Pitt, on the 15th of December, stated that the expenses of the late armament, and the sums necessary to keep up the increased number of soldiers and sailors for another year, before which they could not be well disbanded, owing to certain aspects of things abroad, would amount to something more than three millions, which he proposed to raise by increasing the taxes on sugar, on British and foreign spirits, malt, and game licences, as well as raising the assessed taxes, except the commutation and land taxes. He stated that there was a standing balance of six hundred thousand pounds to the credit of the Government in the Bank of England, which he proposed to appropriate to the discharge of part of the amount. He, moreover, introduced a variety of regulations to check the frauds practised in the taxes upon receipts and bills of exchange, which he calculated at three hundred thousand pounds per annum. With this, Parliament adjourned for the Christmas recess, and thus closed the eventful year of 1790.LORD CASTLEREAGH.
THREE:It is impossible to conceive the extent of suffering and desolation inflicted upon society, almost every family being involved, more or less, in the general calamity. Flourishing firms were bankrupt, opulent merchants impoverished, the masses of working people suddenly thrown out of employment, and reduced to destitution; and all from causes with which the majority had nothing to docauses that could have been prevented by a proper monetary system. If Bank of England notes had been a legal tender, to all intents and purposes supplying the place of gold as currency; if these notes had been supplied to the country banks in any quantities they required, ample security being taken to have assets equal to their respective issues, then the currency would have had an elastic, self-adjusting power, expanding or contracting according to the requirements of commerce. Inordinate speculation would not have been stimulated by a reckless system of credit, and business would have been conducted in a moderate and judicious manner, instead of rushing on at a high pressure that rendered a crash inevitable. The Government, after anxious and repeated deliberations, supplied a remedy on this principle. They determined to issue one-pound and two-pound notes of the Bank of England, for country circulation, to any amount required. In the meantime the Mint was set to work with all its resources in the coining of sovereigns[244], which, for the course of a week, were thrown off at the rate of 150,000 a day. The notes could not be manufactured fast enough to meet the enormous demand for carrying on the business of the country. In this dilemma the Bank was relieved by a most fortunate discoverya box containing 700,000, in one- and two-pound notes that had been retired, but which were at once put into circulation. The people having thus got notes with Government security, the panic subsided, and the demand for gold gradually ceased. The restoration of confidence was aided by resolutions passed at a meeting of bankers and merchants in the City of London, declaring that the unprecedented embarrassments and difficulties under which the circulation of the country laboured were mainly to be ascribed to a general panic, for which there were no reasonable grounds; that they had the fullest confidence in the means and substance of the banking establishments of the capital and the country; that returning confidence would remove all the symptoms of distress caused by the alarms of the timid, so fatal to those who were forced to sacrifice their property to meet unexpected demands. The new measures so promptly adopted and so vigorously carried into effect, raised the circulation of the Bank of England notes in three weeks from 17,477,290 to 25,611,800. Thus the regular and healthful action of the monetary system was restored by an adequate circulation of paper money, on Government security, without specie to sustain it. There were at the time of the crash 770 country bankers; 63 stopped payment, 23 of them having subsequently resumed business, and paid twenty shillings in the pound; and even those that were not able to resume, paid an average of seventeen shillings and sixpence in the pound. It was estimated that the total loss to the country by this panic was one hundred million pounds.
ONE: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.
ONE:
ONE:In Ireland the effervescence assumed the shape of resistance to commercial injustice. It was, indeed, impossible to condemn too strongly the injustice which that country had endured for ages, and in nothing more than in the flagrant restrictions heaped upon its commerce and manufactures in favour of English interests. The Irish now seized on the opportunity while America was waging war against the very same treatment to imitate the American policy. They formed associations in Dublin, Cork, Kilkenny, and other[259] places, for the non-importation of British goods which could be manufactured in Ireland, till England and Ireland were placed on an equal footing in all that related to manufactures and commerce. Ministers, who had turned a deaf ear for years, and almost for ages, to such complaints, were now alarmed, especially as there was a rumour of French invasion, which might be so materially aided by disaffection in Ireland. They therefore made a pecuniary grant to relieve the commercial distress in Ireland, and passed two Acts for the encouragement of the growth of tobacco and hemp, and the manufacture of linen in that island. These concessions, however, were not deemed sufficient, and the people formed themselves into Volunteer Associations, appointing their own officers, and defraying the cost of their own equipments. This was done under the plea of the danger of invasion; but Government knew very well that American agents had been very busy sowing discontent in Ireland, and they saw too much resemblance in these things to the proceedings on the other side of the Atlantic not to view them with alarm. The Marquis of Rockingham, who had been well instructed in the real grievances of Ireland by Burke, moved in the House of Lords, on the 11th of May, for the production of all papers necessary to enable the House to come to a full understanding of the trade of Ireland and of mercantile restrictions on it with a view to doing impartial justice to that kingdom. Lord Gower promised that these should be ready for production next Session.
