FORE:Whilst these violent dissensions had sprung up from the French Revolution, Wilberforce and his coadjutors had been active in their exertions to abolish the Slave Trade. Thomas Clarkson, now devoted heart and soul to this object, was, with Dr. Dickson, sent out by the parent Anti-Slavery Society through the country, to call into life provincial societies and committees, and found themselves zealously supported and warmly welcomed by philanthropists, and especially by the Society of Friends. They circulated the evidence taken before the House of Commons' Committee, and made a great impression. On the other hand, the French Revolution proved as antagonistic to the cause of the abolitionists as it had to the friendship of Burke and Fox. The dreadful insurrection in St. Domingo was attributed to the formation of the Society in Paris of Les Amis des Noirs, and many otherwise enlightened men took the alarm, lest similar scenes in our West Indian colonies should be the result of the doctrines of the abolitionists. Few persons could be found willing to entertain the idea of immediate abolition of the trade in slaves; and even Dr. Parr, though a great Whig and adherent of Fox, declared that these Utopian schemes of liberty to blacks were alarming to serious men. Wilberforce was earnestly entreated to reconsider his plan; he was assured that immediate abolition would not pass the Commons, nor even gradual abolition the Lords. Wilberforce, however, could not be deterred from bringing on the question. On the 18th of April he moved for leave to bring in a Bill to prevent the introduction of any more slaves into our colonies. Besides showing the cruelties practised in the collection and transmission of negroes, he brought forward evidence to prove that, so far from this trade being, as had been represented before the Committee of the Commons, the nursery of British seamen, it was their grave. He showed that of twelve thousand two hundred and sixty-three men employed in it, two thousand six hundred and forty-five had been lost in twelve months. This was calculated to produce far less effect than the surrender of hundreds of thousands of negroes, inasmuch as profit and loss was a more telling argument with the slave traders than mere humanity; and they exerted all their influence in defence of their traffic. Wilberforce added that even had this trade really been a beneficial one as regarded mere political economy, there was a smell of blood about it that all the perfumes of Arabia could not disguise. He was ably supported by Fox and Pitt; but, on this occasion, the Prime Minister could not command[381] his large majority; the motion was lost by one hundred and sixty-three against eighty-eight.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.
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