THREE:It was at the close of 1719, when George I. returned from Hanover, that this Company proposed to Ministers to consolidate all the funds into one. It was strange that both Ministers and merchants could be deluded by the hope of enriching themselves by a share of the trade with the Spanish South American provinces, when Spain herself, in full enjoyment of them, was sunk into indigence and weakness, and presented the most determined resistance to the unfettered intercourse of any other nation with them. Yet Sir John Blunt, a leading director of the South Sea Company, persuaded the Ministers that by granting the Company power to deal with the public funds, and especially to buy up the unredeemable annuities which had been granted in the two preceding reigns, chiefly on terms of ninety-nine years, and which now amounted to about eight hundred thousand pounds a year, they could, in twenty-six years, pay off the entire National Debt. But, to enable them to do this, they must be empowered to reduce all the different public securities to one aggregate fund in their hands, to convert both redeemable and unredeemable debts into stock by such arrangements as they could make with the holders, and to have certain commercial privileges vested in them. Ministers accepted the proposals with great alacrity. Aislabie introduced the scheme to Parliament in the month of February, 1720, declaring that, if it was accepted by the House, the prosperity of the nation would be amazingly enhanced, and all its debts liquidated in a very few years. Craggs seconded the proposal in most sanguine terms, expressing his conviction that every member of the House must be ready to adopt so advantageous an offer. Ministers had already closed with the proposals of the Company, and they were themselves greatly disconcerted by the suggestion of Mr. Thomas Brodrick, the member for Stockbridge, who expressed his entire accordance with Ministers, but thought that the nation should endeavour to obtain the best terms for itself by opening the competition to every other company or association of men as well as that in question. Ministers were confounded by this proposal, and Aislabie endeavoured to get out of it by declaring that to do this would be like putting the nation up to auction, and that such things should be done with spirit. But Jekyll interposed, saying it was this spirit which had ruined the nation, and it was now requisite to consider seriously what was best for the public. A violent debate ensued, in which Walpole eloquently recommended open competition, and was sharply replied to by Lechmere. The question was carried in favour of competition; and then the Bank of England, which before had coolly declined to enter into the proposals, suddenly appeared in a new temper, and made liberal offers for the privilege of thus farming the public debts. But the South Sea Company was not to be outdone; it offered seven millions and a half, and the Bank gave way in despair.Oh, she wont think anything about it. Anyhow, she told me not on any chance to touch that cracked up seaplane or anything that ever was on itand soI put the jinx on my own crate without meaning to.
FORE:Burnet describes the state of religion and intelligence in the nation at the period of Anne's reign as most lamentable, the clergy as "dead and lifeless: the most remiss in their labours in private, and the least severe in their lives," of all that he had seen amongst all religions at home or abroad; the gentry "the worst instructed and the least knowing of any of their rank that he ever went amongst;" and the common people beyond all conception "ignorant in matters of religion." The words of Atterbury, a high Tory, were quite as strong. A description of the state of religion in the country, drawn up by him, was presented by Convocation to the queen, which stated that "the manifest growth of immorality and profaneness," "the relaxation and decay of the discipline of the Church," the "disregard to all religious places, persons, and things," had scarcely had a parallel in any age. Dr. Calamy, a great Nonconformist, equally complains that the "decay of real religion, both in and out of the Church," was most visible. Under the Georges much the same state of affairs[143] prevailed. The episcopal bench was Whig, though very apathetic; while the clergy were Tory, and disinclined to listen to their superiors.
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THREE:Landor had agreed to trust her to Cairness and an escort of three soldiers. He could ill spare time from the telegraph line, under the circumstances; it might be too imperatively needed at any moment. He mounted his wife quickly. "You are not afraid?" he asked. But he knew so well that she was not, that he did not wait for her answer.
THREE:
