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TWO:"I dare say," Landor agreed; "it is certainly more[Pg 11] charitable to suppose that men who hacked up the bodies of babies, and abused women, and made away with every sort of loot, from a blanket to a string of beads, were mad. It was creditably thorough for madmen, though. And it was the starting-point of all the trouble that it took Crook two years to straighten out."

TWO:��Somebody��s on the wing��he��s jumping clear!�� shouted Dick.

TWO:During these transactions the activity of the Pretender and his agents was encouraged by the growing influence of Bolingbroke in the English Court. Bolingbroke proposed to Oxford that they should pay the dowry of the Pretender's mother, the widow of James II.; but to this Oxford objected, saying that the widow of James had not contented herself with the title of queen-dowager of England, but had assumed that of queen mother, which, he observed, could not be lawfully admitted after the attainder of her son. This strengthened the hands of Bolingbroke with Lady Masham, who was violently in favour of the Pretender. Lady Masham's disgust with Oxford was wonderfully increased. In writing to Mesnager, she did not hesitate to say that if the Court of St. Germains trusted to Oxford, they would be deceived; that he was "famous for loving a secret, and making intricacies where there needed none, and no less renowned for causing everything of such a nature to miscarry." The Pretender, having every day increased encouragement from Lady Masham and Bolingbroke, demanded of the Emperor of Germany one of his nieces in marriage; and it was reported that the Emperor was agreeable to it, and ready to espouse his cause. It was well known that distinct propositions had been made to the Pretender through the Duke of Berwick, at the instance of Lady Masham, before her breach with Oxford, by which his restoration on the demise of Anne was agreed to on condition that he should guarantee the security of the Church and Constitution of England, and that not even his mother should be admitted to the knowledge of this agreement. At the last point, however, Oxford failed to conclude this secret treaty. The Duke of Berwick, in his Memoirs, says that, in consequence of this conduct of Oxford's, the friends of the Pretender turned their attention to other parties about the Court��to Lord Ormonde, the Duke of Buckingham, and many other persons. Buckingham��who was married to the Lady Catherine Darnley, a daughter of James II. by Catherine Sedley, and was, therefore, brother-in-law to the Pretender��wrote to the Earl of Middleton, the Pretender's Minister, how earnestly he desired to see the king back on the English throne; that nothing but his religion stood in the way; that this was the only thing which prevented the queen from acknowledging him; and he urged him to follow the example of Henry IV. of France, who gave up the Protestant religion when he saw that he could not securely hold the Crown without doing so. But the Pretender was, much to his credit��being firmly persuaded of the truth of his religion��much too honest to renounce it, even for the Crown of such a kingdom as Great Britain; and he argued that the English people ought to see in his sincerity a guarantee for his faithful dealing with them in all other matters. But, unfortunately, the example of his father had barred the way to any such plea. No man was more positive in the adherence to his religion, or in his sacrifices on its account; but no man had at the same time so thoroughly demonstrated that he had no such honourable feeling as to breaking his word where any political matter was concerned.

TWO:The spring of 1720 was a period of remarkable national prosperity. But "the grand money schemes projected of late," which appeared to the Jacobite Atterbury and others calculated to cement the royal peace and strengthen the foundation[46] of the Government and nation, were destined to produce a very different effect. For the South Sea Bubble was about to burst. In 1711, Harley, being at his wits' end to maintain the public credit, established a fund to provide for the National Debt, which amounted to ten millions of pounds. To defray the interest he made permanent the duties on wine, vinegar, and tobacco, etc. To induce the purchase of the Government stock, he gave to the shareholders the exclusive privilege of trading to the Spanish settlements in South America, and procured them an Act of Parliament and a royal charter, under the name of the South Sea Company. The idea, hollow and groundless as it was, seized on the imagination of the most staid and experienced traders. All the dreams of boundless gold which haunted the heads of the followers of Drake and Raleigh were revived. The mania spread through the nation, and was industriously encouraged by the partisans of Harley. But this stupendous dream of wealth was based on the promises of Ministers, who at the Peace of Utrecht were to secure from the Government of Spain this right to trade to its colonies. The right was never granted by that haughty and jealous Power, further than for the settlement of some few factories, and the sending of one small ship annually of less than five hundred tons. This, and the Assiento, or privilege of supplying those colonies with African slaves, were the sole advantages obtained, and these were soon disturbed by the war with Spain, which broke out under Alberoni. The South Sea Company, however, from its general resources, remained a flourishing corporation, and was deemed the rival of the Bank of England.

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