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."
On the 14th of January, 1793, the members of the Convention met, amid a mob surrounding the House, and demanding, "Death to the tyrant! Death to him or to us!" Other crowds crammed the galleries. The debate, which had begun immediately after the king's speech, was renewed, and furious menaces and recriminations between the Girondists and the Mountain were uttered. At length the Convention reduced all the questions to these three: 1st. Is Louis Capet guilty of conspiring against the liberty of the nation and the safety of the State? 2nd. Shall the judgment, whatever it be, be referred to the sanction of the people? 3rd. What punishment shall be inflicted on him?THE BAYONET CHARGE AT TALAVERA. (See p. 577.)
ONE:The advice of Pitt prevailed. Ministers determined to bring in two Acts in accordance with his counsels: an Act declaratory of the supreme[189] power of Parliament over the colonies, and another repealing the Stamp Act, on the plea which he had suggested. The Declaratory Act passed readily enough, for all parties agreed in it; but the repeal of the Stamp Act met with stout opposition. Grenville, with the pertinacity of a man who glories in his disgrace, resisted it at every stage. When he was hissed by the people, he declared that "he rejoiced in the hiss. If it were to do again, he would do it!" In the Lords there was a strong resistance to the repeal. Lord Temple, who had now deserted Pitt, supported his brother Grenville with all his might. Lords Mansfield, Lyttelton, and Halifax, the whole Bedford faction, and the whole Bute faction, opposed it. The king declared himself for repeal rather than bloodshed.
TWO:After the coronation, the queen resided at Brandenburgh House, determined to lead a life of dignified retirement. But the violent agitation and excitement, and the terribly painful mortification to which she was subjected in her ill-advised attempt to form part of the coronation pageant, were too much for her constitution. As soon as it was evident that her end was approaching, much public sympathy was excited, and the vicinity of her residence was incessantly thronged with persons of all classes making anxious inquiries about her health, and solicitous for her restoration. On the 4th of August, when her professional advisers were receiving instructions about the disposition of her property, one of them suggested the propriety of sending a messenger to Italy to seal up her papers, in order to prevent them from falling into the hands of her enemies. "And what if they do?" she exclaimed; "I have no papers that they may not see. They can find nothing, because there is nothing, nor ever has been, to impeach my character." One of them said that he was aware of that, but her enemies might put there what they did not find. She replied, "I have always defied their malice, and I defy it still." Nevertheless, it was her conscious failure in her efforts to make the public believe this, coupled with the public humiliation to which she had been subjected, that bowed down her spirit at last, and gave the victory to her enemies. She had painted their characters in vivid colours in her private diary, and might have transmitted their punishment to posterity had she ordered it to be preserved and published; but she gave directions to have it destroyed, and it was burnt in her presence by one of her foreign maids. After suffering intensely for four or five days, she sank into a stupor, from which she never woke, and on the 7th of August, after an entire absence of sense and faculty for more than two hours, expired Caroline of Brunswick, Queen Consort of George IV., in the fifty-fourth year of her age. She had by her bedside in her last hours her faithful friends and constant attendants, Lord and Lady Hood, and Lady Anne Hamilton; Alderman Wood, who had been devoted to her interests from the first, was also present, as well as her legal and medical advisers.but that with the pageantry of the hour their importance faded away?that as their distinction vanished their humiliation returned?and that he who headed the procession of peers to-day could not sit among them as their equal on the morrow?"
TWO:Ill news flowed in apace from all quarters during the recess. The Marquis de Bouill had surprised and retaken St. Eustatia. The new conquests in Demerara and Essequibo had also been retaken. Bouill having secured St. Eustatia, next turned his arms against the old and valuable island of St. Kitt's. He then landed eight thousand men at Basseterre, the capital, whose movements were protected by the fleet under De Grasse. General Fraser and Governor Shirley took post on the rugged heights of Brimstone Hill, and made a stout defence, whilst Sir Samuel Hood, who had followed De Grasse from the Chesapeake, boldly interposed between the French admiral and the French troops on shore. Hood twice beat off De Grasse; but the British fleet and army were much too inconsiderable to maintain the conquest. The island was finally taken, and after it the smaller ones of Nevis and Montserrat, so that of all the Leeward Islands we had only Barbadoes and Antigua left.The new British Parliament met on November 26, and Ministers were seen to have a powerful majority. The king announced, in his speech from the throne, that hostilities had broken out in India with Tippoo, and that a peace had been effected between Russia and Sweden, and he mentioned the endeavours that were in progress for restoring amity between the Emperor of Austria and his subjects in the Netherlands. In the debate on the Address in the Commons, Fox appeared inclined still to laud France, and to condemn our interference in the Netherlands. His eyes were not yet opened to the real danger from France, whose example was indeed exciting popular disturbances in the Netherlands and in Poland. Already the doctrines of Liberty and Equality had reached the ears of the negroes in St. Domingo, who had risen to claim the rights of man so amiably proclaimed by France, and the troops of France were on their way thither to endeavour to put them down, in direct contradiction of their own boasted political philosophy. In the Lords, Earl Greythe father of the Whig statesmanon the 13th of December, called for the production of papers relating to Nootka Sound. The motion was negatived by two hundred and fifty-eight against one hundred and thirty-four votes. But the Marquis of Lansdowne contended that Spain had a right to the whole of the North American coast on which Nootka Sound is situated, and had had it since the reign of Queen Elizabeth. He asserted that we had insulted the weakness of Spain; and that Mr. Mears and the other projectors of the trading settlement of Nootka Sound were a set of young men of letters, seeking for novelties. He completely overlooked the provocations which[376] Spain had lately given us, and her endeavours to enter into a conjunction with France against us. He condemned Ministers for having alienated France, Spain, Russia, Denmark, and Sweden, overlooking the fact that they had made alliances with Prussia, Austria, Holland, and the Netherlands. Pitt's cousin, Lord Grenville, replied to this one-sided view of things, and proudly contrasted the position of Britain at this moment to what it was at the conclusion of the American War, when Lord Lansdowne himself, as Lord Shelburne, had been in the Ministry. Pitt, on the 15th of December, stated that the expenses of the late armament, and the sums necessary to keep up the increased number of soldiers and sailors for another year, before which they could not be well disbanded, owing to certain aspects of things abroad, would amount to something more than three millions, which he proposed to raise by increasing the taxes on sugar, on British and foreign spirits, malt, and game licences, as well as raising the assessed taxes, except the commutation and land taxes. He stated that there was a standing balance of six hundred thousand pounds to the credit of the Government in the Bank of England, which he proposed to appropriate to the discharge of part of the amount. He, moreover, introduced a variety of regulations to check the frauds practised in the taxes upon receipts and bills of exchange, which he calculated at three hundred thousand pounds per annum. With this, Parliament adjourned for the Christmas recess, and thus closed the eventful year of 1790.
TWO:On the 19th of August the new Parliament assembled. The Session was opened by commission; the Royal Speech, which was read by the Lord Chancellor, contained a paragraph referring to the duties affecting the productions of foreign countries, and suggesting for consideration the question whether the principle of protection was not carried to an extent injurious alike to the income of the State and the interests of the people; whether the Corn Laws did not aggravate the natural fluctuations of supply; and whether they did not embarrass trade, derange the currency, and by their operation diminish the comfort and increase the privations of the great body of the community. Here was a distinct enunciation of the principles of Free Trade in the Speech from the Throne, for which, of course, the Ministers were responsible. The Address in the House of Lords was moved by Earl Spencer, a decided Free Trader, and seconded by the Marquis of Clanricarde. The debate was relieved from nullity by the Duke of Wellington's testimony to the conduct of Lord Melbourne towards the Queen. The Duke said"He was willing to admit that the noble viscount had rendered the greatest possible service to her Majesty, in making her acquainted with the mode and policy of the government of this country, initiating her into the laws and spirit of the Constitution, independently of the performance of his duty as the servant of her Majesty's Crown; teaching her, in short, to preside over the destiny of this great country." The House divided, when it was found that there was a majority of 72 against the Government.GENOA.
TWO:As the wind was light, the British vessels set their studding-sails, and bore down steadily on the enemy. There were of the British twenty-seven sail of the line, four frigates, one schooner, and one cutter. Of the French and Spaniards there were thirty-three sail of the line, five frigates, and two brigs; but the French vessels were in far superior condition to the old weather-worn ones of Nelson. The French had two thousand six hundred and twenty-six guns, Nelson two thousand one hundred and forty-eight. Collingwood's line first came into contact with the enemy in the Royal Sovereign, and was speedily in the midst of a desperate conflict. It was some time before Nelson's line got up, and Collingwood, amid the din of cannon and the crash of spars, turned to his captain, and said, "Rotherham, what would not Nelson give to be here?" It was just past twelve o'clock at noon as Collingwood's vessel came to close quarters with the Spanish flagship, Santa Anna, and it was more than a quarter of an hour before Nelson's ship came close up to the stupendous four-decker Spaniard, the Santissima Trinidad. He was soon in a terrible contest not only with this great ship, but with the Bucentaure, of eighty guns, the Neptune, of eighty guns, and the Redoubtable, of seventy-four guns. The Victory and Redoubtable were fast entangled together by their hooks and boom-irons, and kept up the most destructive fire into each other with double-shotted cannon. Both ships took fire; that in the Victory was extinguished, but the Redoubtable finally went down. But it was from the mizen top-mast of this vessel that one of the riflemen marked out Nelson by his stars, and shot him down. He fell on the deck, on the spot where his secretary, John Scott, had fallen dead just before. Captain Hardy, to whom Nelson had shortly before said, "Hardy, this is too warm work to last long," stooped, and observed that he hoped that he was not severely wounded. He replied, "Yes, they have done for me at last, Hardy." Hardy said he hoped not. "Yes," he answered; "my back-bone is shot through." He was carried down to the cock-pit, amongst the wounded and the dying, and laid in a midshipman's berth. The ball was found to have entered the left shoulder and to have lodged in the spine; the wound was mortal. For an hour the battle went on in its terrible fury, as the dying hero lay amid those expiring or wounded around him. He often inquired for Captain Hardy, but Hardy found it impossible, in the midst of one of the fiercest and most mortal strifes that ever was wagedthe incessant cannonades sweeping away men, masts, tackle at every momentto go down. When he was able to do it, Nelson asked how the battle went. Hardy replied, "Well, fourteen or fifteen vessels had struck." "That is well," said Nelson; "but I bargained for twenty." He then told Hardy to anchor, foreseeing that a gale was coming on; and Hardy observed that Admiral Collingwood would now take the command. At this the old commander blazed forth in the dying man for a moment. He endeavoured to raise himself in the bed, saying, "Not while I live, Hardy! No, do you anchor!" And he bade Hardy signal to the fleet this order. His last words were again to recommend Lady Hamilton and his daughter to his country, and to repeat several times, "Thank God, I have done my duty!"
William IV. then sent for the veteran Grey, who formed a Ministry with unusual ease, chiefly of the Whig and Canningite elements. His chief difficulty was how to dispose of the volatile Brougham. The king had no objection to accept him as one of the Ministers, and Brougham himself wished to be Master of the Rolls, assuming that Sir John Leech was to become Lord Chancellor of Ireland, with a peerage, and that Mr. Plunket was to be Lord Chancellor of England. To this arrangement, however, the king and Lord Grey peremptorily objected. Brougham was then offered the Attorney-Generalship, which he calmly refused, upon which Lord Grey declared that his hopes of being able to form an Administration were at an end, and he waited on his Majesty for the purpose of communicating to him the failure of his negotiations. "Why so?" inquired the king. "Why not make him Chancellor? Have you thought of that?" The answer was, "No; your Majesty's objection to the one appointment seemed to preclude the other." "Not at all, not at all," replied the king; and the reasons for one appointment and against the other were very clearly stated by his Majesty, namely, that Brougham as Master of the Rolls and member for Yorkshire would be far too powerful. Mr. Brougham was left in the dark for some time about the intentions of Lord Grey, for on the 17th of November he said he had nothing to do with the Administration, except in the respect he bore them, and as a member of the House. On the 19th he presented petitions, and spoke on them in the Commons, without intimating any change of position. Hence it may easily be supposed that he surprised the world, as well as his friends, by suddenly appearing on November the 22nd in the House of Lords as Lord Chancellor of England. This was certainly a high office to which he was elevated, and for which the exigencies of party made him necessary; but, in accepting it, he sacrificed a great position which seemed to gratify all the desires of intellectual ambition; and, in order to induce his compliance, Lord Grey was obliged to appeal to his generous sympathies, his public spirit, and his devotion to his party. Lord Brougham and Vaux became, said a wag, "Vaux et praeterea nihil."The confederacy of Spain, Austria, and Sweden against England greatly encouraged the Pretender and his party. His agents were active on almost every coast in Europe, under the able direction of Atterbury. But there were two new allies whom James acquired at this time who did him little service; these were Lord North and the Duke of Wharton. They went over to the Continent, and not only openly avowed themselves as friends of the Pretender, but renounced Protestantism and embraced Popery. Lord North, however, found himself so little trusted at the Pretender's Court, notwithstanding his apostasy, that he went to Spain, entered its service, and there continued till his death, in 1734. Wharton also arrived at Madrid, where he fell in with a congenial spirit. This was Ripperda, the renegade Dutchman, now created a Duke and made Prime Minister of Spain. He had lately returned from a mission to Vienna, and was as full of foolish boastings as Wharton himself. He told the officers of the garrison at Barcelona on landing, that the Emperor would bring one hundred and fifty thousand men into the field; that Prince Eugene had engaged for as many more within six months of the commencement of a war; that in that case France would be pillaged on all sides, the King of Prussia, whom he was pleased to call the Grand Grenadier, would be chased from his country in a single campaign, and King George out of both Hanover by the Emperor, and Great Britain by the Pretender; that so long as he was in authority there should never be peace between France and Spain. Yet to Mr. Stanhope he declared that though he had talked both in Vienna and Spain in favour of the Pretender, he was, nevertheless, as sincerely attached to the interests of his Britannic Majesty as one of his own subjects; that he would prove this on the first opportunity, and that he only talked as he did to please their Catholic majesties,[55] and to avoid being suspected as a traitor, and falling into the hands of the Inquisition, which he knew kept a sharp eye on him as a recent convert.It was thought time to put a stop to such[559] proceedings, and several of the leaders were arrested, namely, Messrs. Ernest Jones, John Fussell, J. Williams, A. Sharpe, and Y. Vernon. They were committed for sedition, but bail was accepted. At Ashton-under-Lyne, Birmingham, Liverpool, and other places, Chartist and confederate disturbances took place. The police hunted up their leaders, and in some towns seized the papers of the clubs as well as the pikes and fire-arms which they had concealed. There had, in fact, been an extensively ramified conspiracy, the headquarters of which were in the metropolis. On the 11th of August the police, acting upon information they had received, assembled at the station in Tower Street, 700 strong, and suddenly marched to the Angel Tavern in Webber Street, Blackfriars. Surrounding the house, Inspector Butt entered, and found fourteen Chartist leaders in deliberation. In a few minutes they were all quietly secured, and marched to Tower Street. On searching the place the police found pistols loaded to the muzzle, swords, pikes, daggers, and spear-heads, also large quantities of ammunition. Upon one man were found seventy-five rounds of ball cartridge. Some of the prisoners wore iron breastplates. Similar visits were paid to houses in Great Ormond Street, Holborn, and York Street, Westminster, with like results. In the last place the party got notice and dispersed before the police arrived. One man, leaping out of a window, broke his leg. Tow-balls were found amongst them; and from this and other circumstances it was believed they intended to fire the public buildings and to attack the police in every part of London. The whole of the military quartered in London were under arms on the night of the threatened attack, and an unbroken line of communication was kept up between the military and the different bodies of police. Twenty-five of the leaders were committed for felony, bail being refused; their principal leader being a man named Cuffey.[See larger version]On the 10th of September the Prussians began to examine the passes of the forest; and finding them defended, they attacked the French entrenchments but were everywhere repulsed. On the 11th, they concentrated their efforts on the pass of Grand-Pr, defended by Dumouriez himself, and were again repulsed by General Miranda at Mortaume, and by General Stengel at St. Jouvion. The Allies, thus unexpectedly brought to a check, for they had been led by the Emigrants to expect a disorganised or as yet undisciplined army, determined to skirt the forest and endeavour to turn it near Sedan. Whilst engaged in this plan, the Austrians discovered the weakness of the force in the defile of Croix-aux-Bois, where only two battalions and two squadrons of volunteers were posted, for Dumouriez had not examined the pass himself and was assured that this force was amply sufficient. Once aware of this mistake, the Austrians, under the Duke de Ligne, briskly attacked the position and drove the French before them. Dumouriez, informed of this disorder, ordered forward General Chasot with a strong force, who defeated the Austrians, killed De Ligne, and recovered the pass. But the advantage was but momentary; the Austrians returned to the charge with a far superior force, and again cleared the pass and remained in possession of it. Thus Dumouriez saw his grand plan of defence broken up; and finding that Chasot, who had fallen back on Vouziers, was cut off from him on his left along with Dubouquet, he saw the necessity of falling back himself into the rear of Dillon, on his right, who was yet master of the Islettes and the road to St. Menehould. He then sent messages to Chasot, Dubouquet, and to Kellermann, to direct their march so as to meet him at St. Menehould.
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THREE:The tidings of this disaster roused the people of England to a pitch of desperation. The Ministers were condemned for their gross neglect and imbecile procrastination, and Byng was execrated as a coward and a traitor. Meanwhile, the most culpable man of all, Newcastle, was trembling with terror, and endeavouring to find a scapegoat somewhere. Fox was equally trembling, lest Newcastle should make that scapegoat of him. He declared to Dodington that he had urged Newcastle to send succour to Minorca as early as Christmas, and that Cumberland had joined him in urging this, to no purpose. He asserted that Newcastle ought to answer for it. "Yes," replied Dodington, "unless he can find some one to make a scapegoat of." This was the very fear that was haunting Fox, and he hastened, in October, to the king, and resigned the seals. This was a severe blow to Newcastle, and he immediately thought of Murray to succeed him; but, unfortunately, Sir Dudley Ryder, the Lord Chief Justice, just then having died, Murray had fixed his ambition on occupying his seat on the bench. They were obliged to give it to him, with the title[123] of Mansfield, or make a mortal enemy of him. Newcastle then thought of conciliating Pitt. Pitt refused to belong to any Ministry at all in which Newcastle remained. Newcastle, in his perplexity, next tried Lord Egmont, and even old Granville, but both declined the honour; and not a man being to be found who would serve under him, he was compelled most reluctantly to resign. He had certainly presided over the destinies of the nation far too long.
THREE:
