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FORE:William Stanhope was rewarded for his accomplishment of this treaty with the title of Lord Harrington, and was soon after made Secretary of State. But whilst the English were delighted by the completion of the treaty, the Emperor was enraged by it, and his mortification was doubled by the fact that, when he sought to raise four hundred thousand pounds by a loan in London to supply the want of his Spanish subsidies, the Ministry brought in and rapidly passed a Bill prohibiting loans to foreign Powers, except by a licence from the king under the Privy Seal. The Opposition raised a loud outcry, calling it "a Bill of Terrors," an "eternal yoke on our fellow-subjects," and a "magnificent boon to the Dutch." But Walpole very justly answered, "Shall British merchants be permitted to lend their money against the British nation? Shall they arm an enemy with strength and assist him with supplies?" Lead Designer

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FORE:The greater part of the House, as well as the public out of doors, were captivated with the scheme, which promised thus easily to relieve them of the monster debt; but Sir Grey Cooper was the first to disturb these fairy fancies. He declared that the whole was based on a fallacious statement; that it was doubtful whether the actual surplus was as described; but even were it so, that it was but the surplus of a particular year, and that it was like the proprietor of a hop-ground endeavouring to borrow money on the guarantee of its proceeds in a particularly favourable year. Fox, Burke, and Sheridan followed in the same strain. They argued that, supposing the assumed surplus actually to exist, which they doubted, it would immediately vanish in case of war, and a fresh mass of debt be laid on.[315] Sheridan said, the only mode of paying off a million a year would be to make a loan of a million a year, for the Minister reminded him of the person in the comedy who said, "If you won't lend me the money, how can I pay you?" On the 14th of May he moved a string of fourteen resolutions unfavourable to the report of the Committee, which he said contained facts which could not be negatived; but the House did negative them all without a division, and on the 15th of May passed the Bill. In the Lords it met with some proposals from Earl Stanhope, which were to render the violation of the Act equivalent to an act of bankruptcy, but these were negatived, and the Bill was passed there on the 26th. It was not until 1828 that the fallacy on which the Bill rested was finally exposed by Lord Grenville, who, curiously enough, had been chairman of the Committee which recommended its adoption.They succeeded in landing unobserved by any of the sentinels posted along the shore, where they had to wait for the boats fetching over the second detachment, there not being boats enough. Before this arrived, they began to climb the rocks by a narrow track, so steep and rugged that they could only ascend by clinging to the bushes and projecting crags. Directly above their heads was a watch-post of a captain and a hundred and fifty men. There, as they drew near the summit, Colonel Howe��a brother of Lord Howe, who fell at Ticonderoga��leading the van, the watch became aware of a noise, and fired down the rocks, directed by the sound. The English soldiers imprudently returned the volley upwards, instead of reserving it until they had gained the ascent. They continued their scramble up, however, with redoubled ardour, and the French, on their sudden appearance, panic-struck, fled. The second detachment soon followed them, and the whole little army stood on the heights above the town before the break of day. Serior Analyst

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FORE:Within a few days of taking Philadelphia, Lord Howe raised three batteries on the side of the river. On the 3rd of October Washington issued from his camp on the Schuylkill, about fourteen miles from Germantown, having heard that two British detachments had been withdrawn thence to attack the forts on the Delaware. He had been reinforced by militia from Maryland and New Jersey, and determined to surprise the British camp at Germantown. Two columns of Continental troops, led by Greene and Sullivan, were to gain the front of the British, and attack it; whilst two other columns of militia were to attack the rear. This force marched all night, and entered Germantown about sunrise, and all seemed likely to favour their enterprise. A fog prevented the discovery of their approach. But, at the first surprise, Colonel Musgrove threw himself into a storehouse, and kept up such a fire from the windows as checked the assault of the Americans, and gave time for the rest of the British force to get under arms. The village of Germantown consisted of one long street. Across this street the British army had encamped, and stoutly resisted the advance of the Americans. Musgrove was summoned to surrender; but he continued his fire from the house without taking any notice, and, before artillery could be brought up to batter the house, General Greig and Brigadier Agnew came up to his assistance. The Continental troops in front, led on by Washington himself, made a brisk attack, but were repulsed at all points, and were badly co-operated with by the militia in the rear. Washington was compelled to fall back to his camp at Skippack Creek, leaving behind him about eight hundred killed and wounded, and four hundred prisoners. So far, however, was Sir William Howe from availing himself of this opportunity to follow up the attack on Washington, and disperse his army, that he, as usual, thought only of getting into snug winter quarters. Lead Developer

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