FORE:

FORE:If we were to believe figures, and the returns of exports and imports, and of duties paid, we must set down the opening of the year 1819 as considerably prosperous. This was the view which Ministers took of the condition of Great Britain when they met the new Parliament on the 14th of January. The speculations that had been carried on during 1818 had swelled the revenue, and given an impression of growing commerce, which unfortunately did not exist. The results of these speculations in imports of raw material, especially of cotton, and in extensive exports of manufactures to countries not yet sufficiently reinvigorated to purchase, had produced numerous and heavy failures during the latter part of the past year, and these still continued, in strange contrast to the self-congratulating language of Ministers. In nothing was the fall of price so great as in cotton, and those who had bought[142] largely suffered in proportion. These bankruptcies were not confined to Great Britain; they extended to New York, and to southern ports of the United States, where the same speculation had been going on largely.On the 17th of July��a week after the burial of the King��the Queen went in state to meet Parliament. She was received along the line of procession with extraordinary enthusiasm; and never on the accession of a Sovereign was the House of Peers so thronged by ladies of rank. A tone of kindness, mercy, and conciliation, befitting her youth and sex, marked her first Speech from the Throne. She stated that she regarded with peculiar interest the measures that had been brought to maturity for the mitigation of the criminal code, and the reduction of the number of capital punishments; promised that it should be her care to strengthen our institutions, civil and ecclesiastical, by discreet improvement, wherever improvement was required, and to do all in her power to compose and allay animosity and discord. Immediately on the delivery of the Royal Speech Parliament was prorogued in order to its dissolution. The general elections speedily followed, and were all over early in August. The Ministerial candidates were accused of making an unconstitutional use of the Queen's name in their addresses, and availing themselves of her popularity to strengthen the position of the Government, and the Conservatives asserted that the Queen had no partiality for her present advisers, whom she found in office, and bore with only till Sir Robert Peel and his colleagues should feel strong enough to take their places. The elections did not materially alter the balance of parties, the Whigs still commanding a small majority.