FORE:On the death of Stanhope, Sir Robert Walpole was left without a rival, and he received his commission of First Lord of the Treasury on the 2nd of April, and from this period down to 1742 he continued to direct the government of Great Britain. His chief anxiety now was to restore the public credit. He drew up, as Chairman of the Committee of the Commons, a report of all that had been lost in the late excitements, and of the measures that had been adopted to remedy the costs incurred. Amongst these were the resolutions of the House respecting the seven and a half millions the directors of the South Sea Company had agreed to pay to Government; more than five had been remitted, and we may add that on the clamorous complaints of the Company the remainder was afterwards remitted too. The forfeited estates had been made to clear off a large amount of encumbrance, the credit of the Company's bonds had been maintained, and thirty-three per cent. of the capital paid to the proprietors. Such were the[49] measures adopted by the Commons, and these being stated in the report to the king, a Bill was brought in embodying them all. Many of the proprietors, however, were not satisfied. They were very willing to forget their own folly and greediness, and charge the blame on the Government. On the second reading of Walpole's Bill they thronged the lobby of the House of Commons. The next day the Bill was carried, and gradually produced quiet; but Walpole himself did not escape without severe animadversions. He was accused of having framed his measures in collusion with the Bank, and with a clear eye to his own interest; but he had been strenuously vindicated from the charge, and on the whole the vigour and boldness with which he encountered the storm and quelled it deserve the highest praise, and may well cover a certain amount of self-interest, from which few Ministers are free.The same evening the new prison of Clerkenwell was broken open, and all the prisoners were let loose. These joined the drinking, rabid mass, and, in their turn, attacked and gutted the houses of two of the most active magistratesSir John Fielding and Mr. Cox. As they went along, they compelled the inhabitants to illuminate their houses, under menace of burning them down. Everywhere they seized on gin, brandy, and beer, and thus, in the highest paroxysm of drunken fury, at midnight they appeared before Lord Mansfield's house, in Bloomsbury Square. He was quickly obliged to escape with Lady Mansfield by the back door, and to take refuge in the house of a friend in Lincoln's Inn Fields. The mob broke in, and, having demolished the doors and windows, proceeded to destroy and fling out into the square the furniture, pictures, and books, of which their fellows outside made several bonfires. Then perished one of the finest libraries in England, not only of works of law but of literature, which his lordship, through a long course of years, had been collecting.
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