THREE:But the public attention was now freely withdrawn from Warren Hastings to much more exalted personages. On the 11th of July the king in person prorogued Parliament. He then appeared in his usual health, but soon afterwards it was whispered about that he was far from well, and had gone to Cheltenham by the advice of his physicians. When he returned in the autumn, the opinion of his derangement had gained ground, and, to remove this, a Drawing-room was held at St. James's on the 24th of October. Every means had been taken to secure the impression of his Majesty's saneness, but they failed, and the contrary impression was confirmed. Still, the king returned to Windsor, and the endeavours were strenuously maintained by the queen to conceal the melancholy fact from the public; but this was too positive to be long suppressed. On the 5th of November he met his son, the Duke of York, after he had been riding about Windsor Forest for five hours in a state of frenzy, and, bursting into tears, wished that he was dead, for that he felt he should go mad. No doubt he remembered his old sensations when he had a short but sharp fit of lunacy in 1764. The time was hurrying on which must reveal the whole truth; the prorogation of Parliament terminated on the 20th of November; the House would meet, and the king would not be able to attend and open the Session. Pitt was in a state of indescribable anxiety, having no precedents to guide him.In the course of this commercial madness the imports greatly exceeded the exports, and there was consequently a rapid drain of specie from the country. The drain of bullion from the Bank of England was immense. In August, 1823, it had 12,658,240, which in August, 1825, was reduced to 3,634,320, and before the end of the year it ran as low as 1,027,000. Between July, 1824, and August, 1825, twelve millions of cash were exported from Great Britain, chiefly to South America. During the Revolutionary war, which had lasted for fourteen years, the capital of the country had been completely exhausted, while all productive labour had been abandoned. The unworked mines were filled with water. They were accessible, it is true, to English speculators, but they were worked exclusively with English capital. The South American mining companies were so many conduits through which a rapid stream of gold flowed from Great Britain. The catastrophe that followed took the commercial world by surprise; even the Chancellor of the Exchequer failed to anticipate the disaster. On the contrary, his Budget of 1825 was based upon the most sanguine expectations for the future, and on the assurance that the public prosperity was the very reverse of what was ephemeral and peculiar, and that it arose from something inherent in the nation. Even at the prorogation of Parliament in July, the Royal Speech referred to the "great and growing" prosperity on which his Majesty had the happiness of congratulating the country at the beginning of the Session. The commercial crisis, however, with widespread ruin in its train, was fast coming upon Britain. Vast importations, intended to meet an undiminished demand at high prices, glutted all the markets, and caused prices to fall rapidly. Merchants sought accommodation from their bankers to meet pressing liabilities, that they might be enabled to hold over their goods till prices rallied. This accommodation the bankers were unable to afford, and sales were therefore effected at a ruinous loss. The South American mines, it was found, could not be worked at a profit, and they made no return for the twenty million pounds of British money which they had swallowed up. The effect was a sudden contraction of the currency, and a general stoppage of banking accommodation. The country banks, whose issues had risen to 14,000,000, were run upon till their specie was exhausted, and many of them were obliged to stop payment. The Plymouth Bank was the first to fail, and in the next three weeks seventy banks followed in rapid succession. The London houses were besieged from morning to night by clamorous crowds, all demanding gold for their notes. Consternation spread through all classes. There was a universal pressure of creditors upon debtors, the banks that survived being themselves upon the edge of the precipice; and the Bank of England itself, pushed to the last extremity, peremptorily refused accommodation even to their best customers. Persons worth one hundred thousand pounds could not command one hundred pounds; money seemed to have taken to itself wings and fled away, reducing a state of society in the highest degree artificial almost to the condition of primitive barbarism, which led Mr. Huskisson to exclaim, "We were within twenty-four hours of barter."
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TWO:On the 12th of March, 1839, Mr. Villiers again moved for a committee of the whole House to take into consideration the Act regulating the importation of foreign corn, and the Manchester delegates were once more in London to watch the progress of events. On this occasion the House again decided, by 342 votes to 195, not to take the subject into consideration. The defeat was of course expected; but the members of the Association immediately assembled again, and issued an address to the public, in which for the first time they recommended the formation of a permanent union, to be called the Anti-Corn Law League, and to be composed of all the towns and districts represented in the delegation, and as many others as might be induced to form Anti-Corn Law associations, and to join the League. Delegates from the different local associations were to meet for business from time to time at the principal towns represented; but in order to secure unity of action, it was proposed that the central office of the League should be established at Manchester, and that to its members should be entrusted the duties of engaging lecturers, obtaining the co-operation of the public press, establishing and conducting a stamped periodical publication, and keeping up a constant correspondence with the local associations. The delegates then parted, becoming so many local missionaries for spreading the doctrines of the new crusade. The Manchester Association had issued a large number of handbills and placards. It now began to publish more largely and systematically a series of pamphlets. Among these were "Facts for Farmers," in which it was shown to demonstration that, whatever might be the interest of the landowners, their tenants had no real share in the benefits of their monopoly. The cheapness of the publications secured them an extraordinary sale wherever political questions were discussed. Mr. Villiers's speech, extending to thirty-two closely printed pages, was sold at three halfpence; Mr. Poulett Thomson's speech, occupying sixteen pages, at three farthings. When the appeals were made to the electors of the kingdom during the height of the agitation, as many as half a million each of the more popular tracts were issued at a time. In accordance with the resolution passed by the League at its formation in London, a fortnightly organ of the new movement was started on the 16th of April. Its title was the Anti-Corn Law Circular. A preliminary address announced that a copy of the paper would be regularly forwarded to every newspaper, review, and magazine in the empire. The first number contained a "Modern History of the Corn Laws," by Richard Cobden, with various information on the progress of the movement. Meanwhile the work of lecturing went on. Free Trade missionaries were dispatched to all parts, and, to the annoyance of the landlords, even preached their obnoxious doctrines to audiences in smock frocks in the agricultural towns and villages, where the views of the country party had hitherto held undisputed sway. Among the most remarkable of these speakers was Colonel Perronet Thompson, who, by his celebrated "Catechism of the Corn Laws," and his other writings, had done perhaps more than any other man of his time to confute the fallacies of the Protectionist party. The clear and terse style, the shrewd reasoning power, the apt and homely illustration, and, above all, the hearty sincerity and good temper of this remarkable man, were equally acceptable among the most refined or the least educated audiences.
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ONE:The people having collected in great crowds in the neighbourhood of the Council House, Dalton ordered out a company of soldiers, under a young[355] ensign, to patrol the streets, and overawe any attempts at demonstrations in support of the Council. The young ensign, having a stone flung at him, without further ceremony ordered his men to fire into the crowd, and six persons were killed, and numbers of others wounded. No sooner did Joseph hear of this rash and cruel act, than he wrote highly approving of it, and promoting the ensign. The people, greatly enraged, rose in the different towns, and were attacked by the Imperial troops, and blood was shed in various places. With his usual disregard of consequences, Joseph was at this moment endeavouring to raise a loan in the Netherlands, to enable him to carry on the war against Turkey. But this conduct completely quashed all hope of it; not a man of money would advance a stiver. Trautmansdorff continued to threaten the people, and Dalton was ready to execute his most harsh orders. It was determined to break up the University of Antwerp, and on the 4th of August, 1789, troops were drawn up, and cannon planted in the public square, to keep down the populace, whilst the professors were turned into the streets, and the college doors locked. Here there occurred an attack on the unarmed people, as wanton as that which took place at Brussels, and no less than thirty or forty persons were killed on the spot, and great numbers wounded. This Massacre of Antwerp, as it was called, roused the indignation of the whole Netherlands, and was heard with horror by all Europe. The monks and professors who had been turned out became objects of sympathy, even to those who regarded with wonder and contempt their bigotry and superstition. But Joseph, engaged in his miserable and disgraceful war against the Turks, sent to Dalton his warmest approval of what he called these vigorous measures.
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