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  • THREE: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.
  • THREE: H. F. Prittle, made Lord Dunally.In the West Indies it was decided that Great Britain should, of the French islands that she had taken, retain Tobago, Dominica, St. Vincent, and[175] Grenada, but restore to France Guadeloupe, Martinique, and St. Lucia.
  • THREE:"Such, my lords," continued Mr. Brougham, "is the case now before you; and such is the evidence by which it is attempted to be upheld. It is evidence inadequate to prove any proposition, impotent to deprive the subject of any civil right, ridiculous to establish the least offence, scandalous to support a charge of the highest nature, monstrous to ruin the honour of the Queen of England. What shall I say of it, then, as evidence to support a judicial act of legislaturean ex post facto law? My lords, I call upon you to pause. You stand on the brink of a precipice: if your judgment shall go out against the queen, it will be the only act that ever went out without effecting its purpose; it will return to you upon your heads. Save the country! save yourselves!
  • THREE:
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FORE:In the midst of these cabals died the Regent, and Townshend, acting with Walpole, sent over Walpole's brother Horace to watch their interests at Paris. Carteret, on the other hand, ordered Sir Luke Schaub to make every exertion for the grant of the dukedom. On the arrival of Horace Walpole, Bolingbroke, obeying the impulses of the courtier and not of the man, immediately waited on him, and placed all his influence at the French Court at his service; but Walpole, who had an invincible repugnance to Bolingbroke, whilst he availed himself of the advantages offered by Bolingbroke, still kept him at a great and stately distance. Undeterred by this conduct, however, Bolingbroke swallowed his mortification, and continued to keep his eye and his hope on the Walpole Ministry. Unassisted by Bolingbroke, the dukedom could not be obtained; but George reconciled Madame Platen to the match by giving her daughter a portion of ten thousand pounds. Horace Walpole, at the same time, succeeded in getting Schaub recalled, and himself installed in his office of Ambassador at Parisa decided victory over Carteret; indeed, so decided, that Carteret was removed from the Secretaryship to the Lord-Lieutenancy of Ireland.

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The spirit of Choiseul having departed from the French administration, and the king having so unequivocally expressed his intention not to go to war, the Spanish Court hastened to lower its tone and offer conciliatory terms. In December they had proposed, through Prince de Masserano, to disavow the expedition of Buccarelli, if the English Court would disown the menaces of Captain Hunt. This was promptly refused, and orders were sent to Mr. Harris to quit the capital of Spain. He set out in January, 1771, but was speedily recalled; the expedition of Buccarelli was disavowed; the settlement of Port Egmont was conceded, whilst the main question as to the right of either party to the Falklands at large was left to future discussion. So little value, however, did Britain attach to the Falkland Isles, that it abandoned them voluntarily two years afterwards. For many years they were forsaken by both nations; but in 1826 the Republic of Buenos Ayres adopted them as a penal colony, and in 1833 the British finally took possession of them.When Buonaparte reached Lyons, the soldiers, in spite of the Duke of Orleans, of Monsieur, and of Marshal Macdonald, went over to him to a man. He was now at the head of seven thousand men, and Macon, Chalons, Dijon, and nearly all Burgundy declared for him. Marseilles and Provence stood out, the authorities of Marseilles setting a price upon his head. But being now in Lyons, Buonaparte issued, with amazing rapidity, no fewer than eight decrees, abolishing every change made by the Bourbons during his absence, confiscating the property of every Emigrant who had not lost it before, restoring the tricolour flag and cockade, and the legion of honour; abolishing the two chambers, and calling a Champ-de-Mai, to be held in the month of May to determine on a new constitution, and to assist at the coronation of the Empress and the King of Rome. He boldly announced that the Empress was coming; that Austria, Russia, and Great Britain were all his friends, and that without this he could not have escaped. These decrees, disseminated on all sides, had a wonderful effect on the people, and he advanced rapidly, reaching Auxerre on the 17th of March. He rode on several hours in advance of his army, without Guards, talking familiarly with the people, sympathising in their distresses, and promising all sorts of redresses. The lancers of Auxerre and Montereau trampled the white cockade under foot and joined him. He appointed Cambacrs minister of justice; Fouch, of police; and Davoust Minister of War. But Fouch, doubting the sincerity of Buonaparte, at once offered his services to Louis, and promised, on being admitted to a private interview, to point out to the king a certain means of extinguishing the usurper. This was presumed to mean assassination by some of his secret agents, and was honourably rejected by Louis, and an officer was sent to arrest Fouch; but that adroit sycophant retired by a back door, locking it after him, got over a wall, and was the next moment in the house of the Duchess of St. Leu, and in the midst of the assembled Buonapartists, who received him with exultation.The paper was communicated to the king by the Duke of Wellington, who wrote, on the 17th of January, that he entirely concurred in the sentiments and opinions contained in it; and, referring to Mr. Peel's request to be allowed to retire from the Government, the Duke said:"I tell you fairly, I do not see the smallest chance of getting the better of these difficulties, if you should not continue in office. Even if I should be able to obtain the king's consent to enter upon the course which it will probably be found the wisest to adoptwhich it is almost certain that I shall not if I should not have your assistance in office,the difficulties in Parliament will be augmented tenfold in consequence of your secession, while the means of getting the better of them will be diminished in the same proportion. I entreat you, then, to reconsider the subject, and to give[295] us and the country the benefit of your advice and assistance in this most difficult and important crisis."
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