ONE:With the reign of George III. commenced a series of improvements in the manufacture of iron, which have led not only to a tenfold production of that most useful of metals, but to changes in its quality which before were inconceivable. Towards the end of the reign of George II. the destruction of the forests in smelting iron-ore was so great as to threaten their extinction, and with it the manufacture of iron in Britain. Many manufacturers had already transferred their businesses to Russia, where wood was abundant and cheap. It was then found that coke made from coal was a tolerable substitute for charcoal, and, in 1760, the very first year of the reign of George III., the proprietors of the Carron Works in Scotland began the use of pit-coal. Through the scientific aid of Smeaton and Watt, they applied water-, and afterwards steam-power, to increase the blast of their furnaces to make it steady and continuous, instead of intermitting as from bellows; and they increased the height of their chimneys. By these means, Dr. John Roebuck, the founder of these works, became the first to produce pig iron by the use of coal. This gave great fame to the Carron Works, and they received large orders from Government for cannon and cannon-balls. It was some time, however, before enough iron could be produced to meet the increasing demand for railroads, iron bridges, etc.; and so late as 1781 fifty thousand tons were imported annually from Russia and Sweden.LORD BUTE AND THE LONDONERS. (See p. 175.) TWO:

ONE:On the 21st of March a Committee which had been appointed early in the Session to inquire into the public income and expenditure, and to suggest what might in future be calculated on as the clear revenue, presented its report through Mr. Grenville, their chairman. On the 29th, Pitt, in a Committee of the whole House, entered upon the subject, and detailed the particulars of a plan to diminish progressively and steadily the further debt. It appeared from the report of the select Committee that there was, at present, a clear surplus revenue of nine hundred thousand pounds sterling, and that this surplus could, without any great additional burthen to the public, be made a million per annum. This he declared to be an unexpected state of financial vigour after so long and unfortunate a war. The plan which he proposed was to pay two hundred and fifty thousand pounds quarterly into the hands of Commissioners appointed for the purpose to purchase stock to that amount, which was under par, or to pay stock above par, and thus cancel so much debt. In addition to this, the annuities for lives, or for limited terms, would gradually cancel another portion. All dividends arising from such purchases were to be similarly applied. Pitt calculated that by this process, and by the compound interest on the savings to the revenue by it, in twenty-eight years no less than four millions sterling per annum of surplus revenue would be similarly applied, or employed for the exigencies of the State. By this halcyon process he contemplated the eventual extinction of that enormous debt, to pay the mere interest of which every nerve had been stretched, and every resource nearly exhausted. In a delightful state of self-gratulation, Pitt declared that he was happy to say that all this was readily accomplishable; that we had nothing to fear, except one thing��the possibility of any Minister in need violating this fund. Had the original Sinking Fund, he said, been kept sacred, we should have had now very little debt. To prevent the recurrence of this fatal facility of Ministers laying their hands on this Fund, he proposed to place it in the hands of Commissioners, and he declared that "no Minister could ever have the confidence to come down to that House and desire the repeal of so beneficial a law, which tended so directly to relieve the people from their burthens." He added that he felt that he had by this measure "raised a firm column, upon which he was proud to flatter himself that his name might be inscribed." He said not a word about the name of Dr. Price being inscribed there, to whom the whole merit of the scheme belonged; he never once mentioned his name at all. On his own part, Dr. Price complained not of this, but that he had submitted three schemes to Pitt, and that he had chosen the worst.In committee the Opposition endeavoured to introduce some modifying clause. They proposed that the Dissenters should have schools for their own persuasion; and, had the object of the Bill been to prevent them from endangering the Church by educating the children of Churchmen, this would have served the purpose. But this was not the real object; the motive of the Bill was the old tyrannic spirit of the Church, and this most reasonable clause was rejected. They allowed, however, dames or schoolmistresses to teach the children to read; and they removed the conviction of offenders from the justices of peace to the courts of law, and granted a right of appeal to a higher court. Finally, they exempted tutors in noblemen's families, noblemen being supposed incapable of countenancing any other than teachers of Court principles. Stanhope seized on this to extend the privilege to the members of the House of Commons, arguing that, as many members of the Commons were connected with noble families, they must have an equal claim for the education of their children in sound principles. This was an exquisite bit of satire, but it was unavailing. The Hanoverian Tories, headed by Lord Anglesey, moved that the Act should extend to Ireland, where, as the native population was almost wholly Catholic, and therefore schismatic in the eye of the Established Church, the Bill would have almost entirely extinguished education. The Bill was carried on the 10th of June by a majority only of seventy-seven against seventy-two, and would not have been carried at all except for the late creation of Tory peers. TWO: