[See larger version]The British Government had done all in its power, except annuling the Orders in Council, to produce a better tone of feeling in America. It put up with many insults and violations of neutrality. It sent Mr. Foster as envoy to the United States to endeavour to adjust all differences; but in vain. This continued so till 1812, when, on the 20th of May, Mr. Russell, the American charg-d'affaires, presented Lord Castlereagh with a copy of an instrument by which France had, on the 28th of April, abrogated its Berlin and Milan Decrees so far as they related to American vessels. To show an equal liberality, Great Britain, on the 23rd of June, revoked its Orders in Council so far as concerned America, on condition that the United States also revoked its non-Intercourse Act. But this had no effect on the Government of America, which had already concluded a secret treaty with France, and was making every preparation for the invasion of our Canadian colonies. The Americans had the most profound idea of the stability of Buonaparte, and could not conceive that the expedition that he was now preparing against Russia would prove his overthrow. But they expected that Buonaparte would crush Russia altogether, and would rule unopposed over Europe; that the Government of Great Britain was bankrupt, and that they might assail her with impunity. Accordingly, all activity was used in getting ready all kinds of ships to send out as privateers, calculating on a plentiful spoil of British traders in the waters along the American coast and amongst the West Indian Isles, before they could be put upon their guard. At the same time, on the 14th of April they laid an embargo on all American vessels, so as to keep them at home; and on the 18th of June the President announced to Congress that the United States and Great Britain were in an actual state of war. There was a studied ambiguity in this declaration; it did not candidly take the initiative, and assert that the United States declared war against Great Britain, but said that the two countries were, somehow or other, already in a state of war.
ONE:Buonaparte had watched all the motions of the Northern Powers and of Austria from the first, and was fully prepared to encounter and overthrow them. Even before his return from Italy his plans were laid. No sooner, indeed, was he in France again than he proceeded to his great camp at Boulogne, and dated several decrees thence, thus drawing attention to the fact. All France was once more persuaded that he was now going to lead his invincible Army of England across the strait, and add perfidious Albion to his conquests. He had increased that army greatly; it had been diligently disciplined, and contained soldiers who had carried him to victory in Italy and in Egypt. Such an army of a hundred and fifty thousand picked men was deemed capable of achieving anything, with the Emperor at their head. But Napoleon had no intention of making the desperate attempt to cross the Channel without an overwhelming fleet, and this, for reasons which we will mention by-and-bye, did not come. The maps of England had all been thrown aside, and those of Germany substituted. He was busy collecting material for artillery; he was sending everywhere to buy up draught-horses to drag his baggage and ammunition and guns; and suddenly, when people were looking for the ordering out of his flotilla, they were surprised by hearing that he was in full march for the Rhine. On the 23rd of September he sent a report to the Senate in these words:"The wishes of the eternal enemies of the Continent are accomplished; hostilities have commenced in the midst of Germany; Austria and Russia have united with England; and our generation is again involved in all the calamities of war. But a very few days ago I cherished a hope that peace would not be disturbed. Threats and outrage only showed that they could make no impression upon me; but the Austrians have passed the Inn; Munich is invaded; the Elector of Bavaria is driven from his capital; all my hopes have therefore vanished. I tremble at the idea of the blood that must be spilled in Europe; but the French name will emerge with renovated and increased lustre." This was accompanied by two decrees: one for ordering eighty thousand conscripts, and the other for the organisation of a national guard. The next day he was on the way to Strasburg. He said to Savary, "If the enemy comes to meet me"for Mack, like a madman, was rushing towards the Rhine, far away from his allies"I will destroy him before he has re-passed[505] the Danube; if he waits for me, I will take him between Augsburg and Ulm." The result showed how exactly he had calculated.
FORE:The English lay all night on their arms, and, as day dawned, began to entrench their position. If ever a general needed to push on his advantage it was now. Every day was consuming Burgoyne's stores; every day was augmenting the forces of the enemy. The country was closed to Burgoyne; it was open with all its resources to the Americans. Yet he lay there, as if paralysed, from the 20th of September to the 7th of October. The reason of this fatal delay is said to have been that Burgoyne had received a letter from General Sir Henry Clinton at New York, informing him that he must expect no co-operation from General Howe, but that he himself would take the responsibility of making a diversion in his favour by attacking the Forts Montgomery and Clinton, on the lower part of the Hudson. Burgoyne, on receiving this intelligence, sent Clinton word that he would remain where he was till the 12th of Octobera fatal resolve, as a calculation of his stores should have shown him, which the acts of the Americans were certain to render calamitous. Elated at being able to stand their ground in some degree, this novel and almost sole success in the war had raised the spirits of the Colonials as by a miracle. They poured in on all sides, and Arnold, ever ready in resource, suggested to Gates an enterprise to be effected while Burgoyne was lying still and consuming his own victuals.The Treaty of Amiens did not for a moment, even in appearance, interrupt the unlimited plans of aggression which Buonaparte had formed. Whether these plans tended to alarm Britain or not gave him no concern whatever. The encroachments on Italy never paused. Before the signing of the Peace of Amiens, Buonaparte had made himself President of the Cisalpine Republic; and though he had pledged himself to Alexander of Russia that he would not interfere further with Piedmont, because Alexander would not entertain the scheme of co-operating with France in the march to India, as his father had done, Buonaparte seized on all Piedmont in September of this year, annexed it to France, and divided it into six Departments. Charles Emmanuel, the King of Piedmont, retired to his island of Sardinia, and then abdicated in favour of his brother Victor Emmanuel. But Victor Emmanuel would not have been left long king, even of that small territory, had it not been for the protection of Britain. In October he annexed Parma and Placentia. He next made an agreement with the[487] King of Naples for Elba, and took possession of it. Every movement of this restless being showed his intention to drive Britain out of the Mediterranean, and convert it into a French lake. But on the mainland he was equally active. There was no country on the Continent in which Buonaparte did not presume to dictate, as if he already were universal monarch. In the Diet of Germany his influence was prominently conspicuous, and he prevailed to have towns and districts transferred as he pleased. To have all the territory on the left bank of the Rhine secured to France, Prussia received valuable compensation at the expense of the German empire for the cession of the Duchy of Cleves and other provinces transferred to France. Bavaria and other minor States were benefited in the same way, because Napoleon already meant to use these States against Austria and Russia, as he afterwards did. Every endeavour was made, contrary to the articles of the Peace of Amiens, to shut out the trade of Britain, not only with Franceas he had a right to dobut with Holland, Belgium, and Germany. It was in vain that Britain remonstrated. Buonaparte, through his official organ, the Moniteur, declared that "England should have the Treaty of Amiens, the whole Treaty of Amiens, and nothing but the Treaty of Amiens"; but he interpreted this treaty to give every advantage to France to the exclusion of Britain. Half Europe was closed to British trade. It was a condition of the Treaty of Lunville that the independence of Switzerland should be respected, and this was guaranteed by the Batavian, Cisalpine, and Ligurian Republics, as well as by France and Austria. But Buonaparte had already absorbed all these republics into France, and Austria he set at defiance. He had never withdrawn the French troops from Switzerland, but whilst they remained French emissaries had continued to foment the feuds between the people and the nobles, between one canton and another. He now declared this state of things must end, and he assumed the office of umpire, to settle the affairs of the Swiss for them. He had no right to assume this officeif needed, it belonged to the other Powers of Europe as well as France; but he knew that he had the mightand he used it. At the end of September he sent General Rapp to issue a manifesto announcing that Napoleon was determined to put an end to all their differences. This manifesto was immediately followed by the appearance of General Ney at the head of forty thousand men, in addition to those already in the country. Thus Switzerland was invaded, and its constitution trodden out by an armed occupation. Buonaparte assumed the title of Mediator of the Helvetic League, and dictated his own terms to the deputies of the French party who were sent to Paris.
FORE:Buonaparte saw his opportunity, and, making a movement by a body of troops on Bar-sur-Seine, he alarmed Schwarzenberg, who thought he was intending to attack him in full force, and therefore changed his route, separating farther from Blucher. This point gained, Buonaparte marched after Blucher. That general had driven Macdonald from Chateau Thierry, and had established his headquarters at Vertus. Sacken was in advance as far as Fert-sous-Jouarre, and Yorck at Meaux, much nearer Paris than Buonaparte himself. Paris was in great alarm. But Napoleon, taking a cross-country road, and dragging his artillery by enormous exertions over hedges, ditches, and marshes, came upon Blucher's rear, to his astonishment, at Champaubert. Driving in the Russians, Napoleon defeated him, taking two thousand prisoners, and most of his artillery; and being thus posted between Sacken and Blucher, he first attacked and defeated Sacken, destroying or squandering five thousand menabout one-fourth of his divisionand then turned to attack Blucher himself, who was marching rapidly up to support Sacken. Blucher, finding himself suddenly in face of the whole army of Buonaparte, in an open country, fell back, but conducted his retreat so admirably that he cut his way through two strong bodies of French, who had posted themselves on the line of his march, and[79] brought off his troops and artillery safe to Chalons. Napoleon then turned against Schwarzenberg, and on the 17th of February he met and defeated him at Nangis. Such were the immediate consequences of the folly of dividing the Allied forces. In these movements Napoleon displayed a military ability equal to that of any part of his career.
THREE:At length the fated 1st of March arrived, when the Paymaster of the Forces arose amidst profound silence, to state the Bill. Lord John Russell's speech was remarkable for research, accuracy, and knowledge of constitutional law, but not for oratory. He showed that the grievances of which the people complained, in connection with the Parliamentary representation, were threefirst, the nomination of members by individuals; secondly, elections by close corporations; and thirdly, the enormous expenses of elections. Sixty nomination boroughs, not having a population of 2,000 each, were to be totally disfranchised; 46 boroughs, having a population of not more than 4,000, and returning two members each, would be deprived of one. The seats thus obtained were to be given to large towns and populous counties. In boroughs, the elective franchise was to be extended to householders paying 10 rent; in counties, to copyholders of 10 a year, and leaseholders of 50. Persons already in possession of the right of voting were not to be deprived of it, if actually resident. Non-resident electors were to be disfranchised, and the duration of elections was to be shortened by increasing the facilities for taking the poll. No compensation was to be given to the proprietors of the disfranchised boroughs, which was justified under the precedent of the forty-shilling freeholders of Ireland, who had received no compensation for the loss of their votes. The question of the duration of Parliaments was reserved for future consideration.
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TWO:The force left to keep possession of Cabul and guard the protg of the Indian Government[495] was so situated as to tempt the aggression of a treacherous enemy. Sir William Macnaghten, the British Resident, and his suite, resided in the Mission Compound, which was badly defended, and commanded by a number of small forts, while the commissariat stores were placed in an old fort, detached from the cantonment and in such a state as to be wholly indefensible. Moreover, General Elphinstone, the commander of the troops, was old and inefficient. A conspiracy had been formed by the friends of Akbar Khan, son of the deposed sovereign, Dost Mahomed, who forged a document, and had it circulated amongst the principal men of Cabul, to the effect that it was the design of the British envoy to send them all to London, and that the king had issued an order to put the infidels all to death. The insurrection commenced by an attack on the dwellings of Sir Alexander Burnes, who was about to succeed Macnaghten, and Captain Johnson, who resided in the city. Sir Alexander addressed the party from the gallery of his house, thinking that it was a mere riot. The insurgents, however, broke in, killed him with his brother, Lieutenant Burnes, and Lieutenant Broadfoot, and set the house on fire. The Afghans then surrounded the cantonments, and poured in a constant fire upon them from every position they could occupy. They quickly seized the ill-defended commissariat stores, upon which the existence of the British depended. The garrison bravely defended itself with such precarious supplies as could be had from the country; but at length these supplies were exhausted. Winter set in, snow fell, and there was nothing before them but the prospect of starvation. They therefore listened to overtures for negotiation, and the British envoy was compelled to consent to these humiliating terms on the 11th of December, 1841:That the British should evacuate the whole of Afghanistan, including Candahar, Ghuznee, and Jelalabad; that they should be permitted to return unmolested to India, and have supplies granted on their road thither; that means of transport should be furnished to the troops; that Dost Mahomed Khan, his family, and every Afghan then detained within our territories should be allowed to return to their own country; that Shah Sujah and his family should receive from the Afghan Government one lac of rupees per annum; that all prisoners should be released; that a general amnesty should be proclaimed; and that no British force should ever be sent into Afghanistan without being invited by the Afghan Government. These terms having been agreed to, the chiefs took with them Captain Trevor as a hostage; but nothing was done to carry the agreement into effect, and Macnaghten and Elphinstone remained irresolutely at Cabul. Some of their staff attempted to bribe the Afghans, and Akbar Khan thereupon determined to withhold supplies. It soon became evident that the object was to starve out the garrison, and compel them to surrender unconditionally. At length, on the 22nd of December, they sent two persons into the cantonment, who made a proposal in the name of Akbar Khan, that the Shah should continue king, that Akbar should become his Prime Minister, and that one of the principal chiefs should be delivered up to the British as a prisoner. This was a mere trap, into which Sir William Macnaghten unfortunately fell with fatal credulity. On the 23rd of December the envoy, attended by Captains Lawrence, Trevor, and M'Kenzie, left the Mission Compound, to hold a conference with Akbar Khan in the plain towards Serah Sung. Crowds of armed Afghans hovering near soon excited suspicions of treachery. Captain Lawrence begged that the armed men might be ordered off; but Akbar Khan exclaimed, "No, they are all in the secret." At that instant Sir William and the three officers were seized from behind and disarmed. Sir W. Macnaghten was last seen on the ground struggling violently with Akbar Khan, consternation and terror depicted on his countenance. "His look of wondering horror, says Kaye, "will never be forgotten by those who saw it, to their dying day." The other three officers were placed on horses, each behind a Ghilzai chief, who galloped off with them to a fort in the neighbourhood. Captain Trevor fell off his horse, and was instantly murdered. The others were assailed with knives by the infuriated Afghans, and barely escaped to the fort with their lives. Meanwhile the head of the British Minister was cut off and paraded through the streets, while the bleeding and mangled trunk was exposed to the insults of the populace in the principal bazaar.Buonaparte now prepared for his coronation. Whilst at Mayence, on the Rhinewhere the German princes flocked to pay abject homage to him as their protector, no nations, except Great Britain, Russia, and Sweden, keeping aloofhe despatched one of his aides-de-camp, General Caffarelli, an Italian, to invite the Pope to go to Paris to crown the new emperor and empress. Pius VII. had already been compelled to submit to the terms of the Concordat, which had made such inroads into the ancient power of the Church; and he knew very well that to refuse this request would bring down upon him fresh humiliations. Buonaparte, who affected to imitate Charlemagne as the founder of the French nation, passing over all the kings of France as unworthy of notice, determined to inaugurate the Second Empire by a still bolder stretch of authority than Charlemagne himself. That monarch had condescended to make the journey to Italy to receive the privilege of coronation from Pope Leo; but Buonaparte resolved that poor old Pope Pius VII. should come to him in France. His desire was carried out to the letter, and Pius arrived at Fontainebleau on the 25th of November. The 2nd of December having been fixed for the coronation, the Cathedral of Notre Dame was gorgeously decorated for the occasion, and the ceremony was performed amidst the utmost pomp and magnificence, Napoleon himself putting the crown on his head and then placing the Empress's diadem on the head of the kneeling Josephine. During the whole proceedings the Pope was made to play a secondary part. He simply "assisted" at the function. The ceremony was followed by a profuse creation of marshals and nobles.
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THREE:
FORE:But long before thisas early, indeed, as the 15th of Aprilnews had reached London of the death of the erratic Emperor Paul, and of the bombardment of Copenhagen by the British fleet. Paul had been won over by Buonaparte to his views, and had been flattered by him by being electedthough irregularly and illegallyGrand-Master of the Knights of Malta. He had been persuaded that the conquest of Malta by the British was an invasion of his rights, and by these and other flatteries Buonaparte had influenced his weak mind to become the agent of his plans in destroying the British ships in the Baltic, and in closing that sea to British commerce. Paul pretended that we had captured Danish convoys, these same convoys being engaged in guarding vessels loaded with materials of war for France, and that thus the independence of the North was menaced by us. On this ground, and on that of the invasion of Malta, he immediately laid an embargo on all British vessels in Russian ports, and as two vessels in the harbour of Narva resisted the attempts to seize them, in consequence of the embargo, he ordered all the British vessels in that port to be burned. In consequence of this sudden and unwarrantable order, contrary to all the laws of nations, about three hundred British vessels were seized, and the officers and crews dragged on shore, put into irons, and sent up the country under menaces of Siberia. Paul next ordered all property of Englishmen in Russia to be seized and sold. Denmarkwith whom we had various rencontres, on account of its men-of-war convoying vessels laden with stores for French portssoon joined Russia. We sent Lord Whitworth to Copenhagen to endeavour to come to some understanding on these matters in 1800, but though a convention was signed, it was not satisfactory. Sweden followed the example of Denmark, and the three Northern Powers entered into a treaty of armed neutrality to resist our search of their vessels in any circumstances. As the consequence of this policy would be to shut us out of all trade with the ports of the Baltic, it was resolved to send a fleet to chastise these Powers and break up their co-operation with France. Mr. Vansittart was despatched to Copenhagen, accompanied by a fleet of eighteen sail of the line, with several frigates and smaller vessels, under command of Admiral Sir Hyde Parker, with Vice-Admiral Nelson as second. The fleet left the Yarmouth Roads on the 12th of March, 1801, and arriving at the mouth of the Sound, Nelson recommended that they should sail directly up to Copenhagen, and be prepared, on the refusal of our proposals, to bombard the place, as this would not allow them time to get ready their batteries, and thus do all the more damage to our ships and men. But this was deemed too offensive before any attempt at negotiation, and accordingly Mr. Vansittart was sent forward in a frigate with a flag of truce, leaving the fleet at the Scaw. He returned without effecting anything more than what Nelson anticipated. Sir Hyde Parker wasted time in making[481] the needless inquiry by a flag of truce of the Governor of Elsinore, whether the passage of the Sound would be disputed, who replied that it would. It was then proposed to enter by the Belt. Nelson said:"Let it be by the Sound, or the Belt, or anyhowonly don't let us lose an hour."In answer to some queries submitted to the Attorney-General, Mr. Joy, he stated that when the old Association was suppressed, the balance of Catholic rent in the treasury was 14,000. He showed how the existing Act had been evaded, and how useless it was to attempt to prevent the agitation by any coercive measure. They held "fourteen days' meetings," and it was amusing to read the notices convening those meetings, which always ran thus:"A fourteen days' meeting will be held, pursuant to Act of Parliament"as if the Act had enjoined and required such meetings. Then there were aggregate meetings, and other "separate meetings," which were manifestly a continuation of the Association. The same members attended, and the same routine was observed. They also held simultaneous parochial meetings, by which the people were gathered into a solid and perilous confederacy.
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FORE:The movement going forward in the Established Church of Scotland during this reign related almost exclusively to the subject of patronage. This church, though drawing its origin from Switzerland, a thoroughly Republican country, and rejecting bishops, took good care to vest the right of presenting ministers to parishes in the clergy. The Government insisted on this right continuing in lay patrons; but for some time after the Revolution the people asserted their right to choose their own pastors, and continued to carry it. But in 1698 the General Assembly took the opportunity, when it had been accused by the English Church of throwing the office of choosing ministers amongst the people, to repudiate all such notion on their part. They declared unanimously that "they allowed no power in the people, but only in the pastors of the Church, to appoint and ordain to such offices."
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After thus settling the form and powers of the constitution, Congress voted eight million dollars to be raised as a loan, and ordered a fresh issue of paper money. But, above all, it laboured to acquire aid from abroad, without which it was clear they must yield to the superior military force of the mother country, and return to their obedience on humiliating terms. For this purpose, in addition to Silas Deane, who was already in Paris, Franklin and Arthur Lee were dispatched to that capital to obtain aid with all possible speed. These gentlemen set sail in the beginning of November, though in much apprehension of being intercepted by the British cruisers; but managed to reach Quibron Bay in safety, and Paris before the end of the year. So successful was Franklin in Paris, that he obtained a gift of two millions of livres from the French king in aid of America, and the assurance that[233] this should be annually augmented, as her finances allowed. The only stipulation for the present was profound secrecy. Franklin had also found the cause of America so popular, that many officers were anxious to engage in her service; and the enthusiastic young Marquis Lafayette, notwithstanding the ill news from the United States, engaged to embark his life and fortune with Washington and his compatriots.Meer Cossim, for a time, served their purpose. They obtained, as the price of his elevation, a large sum of money and an accession of territory. But he was not a man of the obsequious temper of Meer Jaffier. He removed his court from Moorshedabad to Monghyr, two hundred miles farther from Calcutta. He increased and disciplined his troops; he then made compulsory levies on the English traders, from which they had always claimed exemption. There was a loud outcry, and a determined resistance on the part of the English; but Meer Cossim not only continued to compel them to pay the same revenue dues as others, but imprisoned or disgraced every man of note in his dominions who had ever shown regard to the English. It was clear that he chafed under the impositions of his elevators, and meant to free himself from them and their obligations together. It was in vain that the English Council in Calcutta uttered warning and remonstrance; there was the most violent controversy between the English factory at Patna and Meer Cossim. Vansittart hastened to Monghyr, to endeavour to arrange matters with Cossim. He consented to the payment, by the English, of the inland revenue to the amount of nine per cent.; and on his part he accepted a present for himself from Cossim of seven lacs of rupees, or upwards of seventy thousand pounds. But on this occasion, though Vansittart had pocketed this large bribe from Meer Cossim, the council in Calcutta, who got nothing, voted the terms most dishonourable, and sent a fresh deputation to Cossim at Monghyr. This deputation was headed by Mr. Amyott; but as it went to undo what Vansittart had just done, Cossim, who saw no end of exactions, and no security in treating with the English, caused his troops to fall on the unfortunate deputation as they passed through Moorshedabad, and they were all cut to pieces. Here was an end to all agreement with this impracticable man, so the Council immediately decreed the deposition of Meer Cossim, and the restoration of the more pliant puppet, Meer Jaffier.The Archduke John, whilst advancing victoriously into Italy, driving the viceroy, Eugene Beauharnais, before him, when he had reached almost to Venice was recalled by the news of the unfortunate battle of Eckmühl, and the orders of the Aulic Council. The Italians had received him with unconcealed joy; for, harsh as the rule of Austria in Italy had been, it was found to be easy in comparison with the yoke of Buonaparte. In common with other peoples, the Italians found that Buonaparte's domination, introduced with lofty pretences of restoring liberty and crushing all old tyrannies, was infinitely more intolerable than the worst of these old tyrannies. It was one enormous drain of military demand. The lifeblood of the nation was drawn as by some infernal and insatiable vampire, to be poured out in all the other lands of Europe for their oppression and curse. Trade vanished, agriculture declined under the baleful incubus; public robbery was added to private wrong; the works of artthe national pridewere stripped from their ancient places, without any regard to public or individual right, and there remained only an incessant pressure of taxation, enforced with insult, and often with violence.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. Accession of George II.Characters of the King and QueenAdroit Tactics of WalpoleRise and Fall of ComptonAttitude of the OppositionCongress of SoissonsCauses of Dispute with SpainStanhope's successful Negotiations with King PhilipRetirement of TownshendWalpole SupremePeace Abroad and at HomeWalpole's System of Wholesale Bribery and CorruptionThe Public PrisonsDuel between Pulteney and Lord HerveyThe Excise SchemeGreat OutcryWithdrawal of the BillWalpole's VengeanceAttack on the Septennial ActWyndham's SpeechDepression of the OppositionDefinitive Peace of ViennaGin ActThe Porteous RiotsThe Prince of Wales and the OppositionApplication for an Increase of his AllowanceBirth of George III.Death of Queen CarolineAttempt to Reduce the ArmyDisputes with Spain"Jenkins' Ear"Walpole's NegotiationsSecession of the OppositionFurther Difficulties with SpainDeclaration of WarPrivateers and ReprisalsVernon's VictoryFrederick invades SilesiaAssistance of EnglandParliament MeetsSandys' MotionWalpole's DefenceDisasters of Maria TheresaShe throws herself on the MagyarsMisfortunes of the English FleetsVernon Repulsed from CarthagenaPower slips from the Hands of WalpoleHis Last BattlesThe Chippenham Election PetitionHis Fall.