FORE:Pitt, on the day mentioned, announced these facts, and declared that his Majesty had demanded satisfaction from the Court of Spain for the insult to our flag and for the usurpation of our settlement; but that considerable armaments were making in the ports of Spain. He called upon the House to address his Majesty, imploring him to take all necessary measures for the vindication of our honour and our rights. Fox naturally expressed his surprise at this announcement, after the high assurances of such profound prospects of peace little more than a fortnight before. He moreover asserted that not only were the Ministers fully aware of all these circumstances at the very moment when the Premier made these statements, but that he had himself been aware of them a considerable time before that. Pitt endeavoured to explain that all the circumstances were not known when he professed such confidence in peace; but these assertions were clearly as little true as the former, for the British Government had received information from the Spanish Government itself, as early as the 10th of the previous February. Notwithstanding, the House supported the Government warmly in its determination to resist the enormous claims of Spain and to compel her to make satisfaction. Lord Howe was desired to have a fleet in readiness, and the Spanish Court having taken a high tone to Mr. Merry, our Minister at Madrid, Mr. Fitzherbert was dispatched thither as our plenipotentiary. He arrived at Madrid in the beginning of June. At first the Spanish Court were very high, and applied to France for co-operation, according to treaty; but France, in the throes of the Revolution, had no money to spend in such armaments and, on second thoughts, Spain dreaded introducing French revolutionary sailors amongst their own. They soon, therefore, lowered their tone, agreed to surrender Nootka Sound, make full compensation for all damages, and consented that British subjects should continue their fisheries in the South Seas, and make settlements on any coasts not already occupied. Captain Vancouver, who had been with Cook as a midshipman in his last two voyages, being present at his tragical death, was sent out in the following year to see that the settlement of Nootka Sound was duly surrendered to England. He saw this done, the Spanish commander, Quadra, behaving in a very friendly manner; and he proceeded then, during the years 1792 and 1793, to make many accurate surveys of the western coasts of North and South America, in which the Spaniards gave him every assistance. The British took formal possession not only of Nootka Sound, but of the fine island called after Vancouver. Pitt was highly complimented for his firmness and ability in the management of this business.A third Bill yet remained to be carried, in order to complete the Ministerial scheme of Emancipation, and supply the security necessary for its satisfactory working. This was the Bill for disfranchising the forty-shilling freeholders, by whose instrumentality, it may be said, Emancipation was effected. It was they that returned Mr. O'Connell for Clare; it was they that would have returned the members for twenty-three other counties, pledged to support his policy. It is true that this class of voters was generally dependent upon the landlords, unless under the influence of violent excitement, when they were wrested like weapons from their hands by the priests, and used with a vengeance for the punishment of those by whom they had been created. In neither case did they exercise the franchise in fulfilment of the purpose for which it was given. In both cases those voters were the instruments of a power which availed itself of the forms of the Constitution, but was directly opposed to its spirit. Disfranchisement, however, in any circumstances, was distasteful to both Conservative and Liberal statesmen. Mr. Brougham said he consented to it in this case "as the pricealmost the extravagant price"of Emancipation; and Sir James Mackintosh remarked that it was one of those "tough morsels" which he had been scarcely able to swallow. The measure was opposed by Mr. Huskisson, Lord Palmerston, and Lord Duncannon, as not requisite, and not calculated to accomplish its object. But although Mr. O'Connell had repeatedly declared that he would not accept Emancipation if the faithful "forties" were to be sacrificed, that he would rather die on the scaffold than submit to any such measure, though Mr. Sheil had denounced it in language the most vehement, yet the measure was allowed to pass through both Houses of Parliament without any opposition worth naming; only seventeen members voting against the second reading in the Commons, and there being no division against it in the Lords. Ireland beheld the sacrifice in silence. Mr. O'Connell forgot his solemn vows, so recently registered, and, what was more strange, the priests did not remind him of his obligation. Perhaps they were not sorry to witness the annihilation of a power which landlords might use against them[302] and which agitators might wield in a way that they could not at all times control. There had been always an uneasy feeling among the prelates and the higher clergy at the influence which Mr. O'Connell and the other lay agitators had acquired, because it tended to raise in the people a spirit of independence which rendered them sometimes refractory as members of the Church, and suggested the idea of combination against their own pastors, if they declined to become their leaders in any popular movement. The popular leaders in Ireland, however, consoling themselves with the assurance that many of the class of "bold peasantry" which they had glorified would still enjoy the franchise as ten-pound freeholders, consented, reluctantly of course, to the extinction of 300,000 "forties." They considered the danger of delay, and the probability that if this opportunity were missed, another might not occur for years of striking off the shackles which the upper classes of Roman Catholics especially felt to be so galling.
THREE:Sir Charles Barry was the architect of numerous buildings, but his greatest work was the New Palace of Westminster. When the old Houses of Parliament were burned down in 1834, amongst the numerous designs sent in Mr. Barry's was selected, and he had the honour of constructing the magnificent temple of legislation in which the most powerful body in the world debates and deliberates, upon the old, classic site, rendered sacred by so many events in our history. It has been disputed whether the style of the building is altogether worthy of the locality and the object, and whether grander and more appropriate effects might not have been produced by the vast sums expended. But it has been remarked in defence of the artist, that the design was made almost at the commencement of the revival of our national architecture, and that, this fact being considered, the impression will be one of admiration for the genius of the architect that conceived such a work; and the conviction will remain that by it Sir Charles Barry did real service to the progress of English art.
TWO:The winter of 1836-7 was marked by great commercial activity, and a strong tendency to over-trading, chiefly on the part of the banks. The result was a reaction, and considerable monetary embarrassment. In the reckless spirit of enterprise which led to these consequences, the American houses took the lead. The American speculators indulged an inordinate thirst for gain by land jobs, and over-trading in British produce. The most remarkable examples of this were afforded by three great American houses in London, called "the three W.'s." From an account of these firms, published in June, 1837, it appeared that the amount of bills payable by them from June to December, was as follows: Wilson and Co.,[411] 936,300; Wigan and Co., 674,700; Wildes and Co., 505,000; total acceptances, 2,116,000. This was upwards of one-sixth of the aggregate circulation of the private and joint-stock banks of England and Wales, and about one-eighth of the average circulation of the Bank of England. The shipments to America by Wigan and Co. amounted to 1,118,900. The number of joint-stock banks that started into existence at this time was remarkable. From 1825 to 1833 only thirty joint-stock banks had been established. In that year the Charter of the Bank of England being renewed, without many of the exclusive privileges it formerly enjoyed, and the spirit of commercial enterprise being active, joint-stock banks began to increase rapidly. There was an average of ten new companies annually, till 1836, when forty-five of these establishments came into existence in the course of ten months. In Ireland there were ten started in the course of two years. The consequence of this greatly increased banking accommodation produced a wild spirit of commercial adventure, which collapsed first in America, where the monetary confusion was unexampledbankers, importers, merchants, traders, and the Government having been all flung into a chaos of bankruptcy and insolvency. This state of things in America had an immediate effect in England. Discounts were abruptly refused to the largest and hitherto most respectable houses of Liverpool and London. Trade, in consequence, became paralysed; prices suddenly dropped from thirty to forty per cent.; and the numerous share bubblesthe railway projects, the insurance companies, the distillery companies, the cemetery companies, the sperm oil, the cotton twist, zoological gardens, and other speculationswhich had floated on the pecuniary tide, all suddenly collapsed, and there was an end to the career of unprincipled adventurers. It is satisfactory, however, to observe that the sound commerce of the country soon recovered the shock thus given; and in less than two years the pecuniary difficulties had passed away. Commerce had resumed its wonted activity, and flowed steadily in legitimate channels. The American banks resumed payment, and the three great American houses, which had involved themselves to such an enormous extent, were enabled to meet all their liabilities.
