FORE:These debates were immediately followed by the opening of the Budget on the 23rd of Februaryan opening which was enough to have made any men but such as were then at the head of British affairs pause in their ruinous career. There was a call for one hundred thousand seamen, for one hundred and sixty thousand regulars, and fifty-six thousand militiatotal, two hundred and sixteen thousand soldiers, besides volunteers, fencibles, and foreign troops in British pay, amounting, by land and sea, to at least four hundred thousand men! For their support there were demanded sixteen million and twenty-seven thousand pounds, in addition to other taxes to make up deficiencies and interest on the Debt; the whole revenue demanded was twenty-seven million five hundred thousand pounds. Besides this there was an annual subsidy to the King of Sardinia of two hundred thousand pounds, although there was no prospect whatever of saving him. To raise all this, new duties had to be laid on tea, coffee, raisins, foreign groceries and fruits, foreign timber, insurances, writs, affidavits, hair-powder, licences, etc., and the revenue from the Post Office, while the privilege of franking had to be abridged. The only tax that the compliant aristocracy protested against was that on the powdered pates of their menials; but the country cried lustily and in vain against the increase of taxation, which, gross as it was, was but the beginning of their burdens and of the burden of posterity.
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FORE:But the bullionists were still bent on forwarding their scheme, or on throwing the country into convulsions. Lord King announced to his tenants in a circular letter that he would receive his rents in specie or in bank-notes to an amount equalling the advanced value of gold. This raised a loud[12] outcry against the injustice of the act, which would have raised the rents of his farms twenty or more per cent.; and Lord Stanhope brought in a Bill to prevent the passing of guineas at a higher value than twenty-one shillings, and one-pound banknotes at a less value than twenty shillings. There was a strenuous debate on the subject in both Houses. In the Lords, Lord Chancellor Eldon demonstrated the enormity of people demanding their rents in gold when it did not exist, and when, if the person who could pay in notes carried these notes to the Bank of England, he could not procure gold for them. He denominated such a demand from landlords as an attempt at robbery. Yet the Bill was strongly opposed in both Housesin the Commons by Sir Francis Burdett, Sir Samuel Romilly, Brougham, and others. It underwent many modifications, but it passed, maintaining its fundamental principles, and landlords were obliged to go on taking their rents in paper.From the Painting by J. Trumbull.
FORE:Grenville, being on the look-out for new taxes, had paid particular attention to the rapid growth of the American colonies, and was inspired with the design of drawing a revenue from them. The scheme had been suggested to Sir Robert Walpole, when his Excise Bill failed, by Sir William Keith, who had been governor of Pennsylvania; but Sir Robert had a far deeper insight into human nature than the shallow and obstinate Grenville. He replied, "I have already Old England set against me, and do you think I will have New England set against me too?"The elections were now carried on with all the fire and zeal of the two parties. The Tories boasted of their successful efforts to stem the tide of expenditure for the war, to staunch the flow of blood, and restore all the blessings of peace. The Whigs, on the contrary, made the most of their opposition to the Treaty of Commerce, which they represented as designed to sacrifice our trade to the insane regard now shown to the French. To show their interest in trade, they wore locks of wool in their hats; and the Tories, to show their attachment to the Restoration and the Crown, wore green twigs of oak. Never was shown more completely the want of logical reason in the populace, for whilst they were declaring their zeal for the Protestant succession, and whilst burning in effigy on the 18th of NovemberQueen Bess's daythe Pope, the Devil, and the Pretender, they sent up a powerful majority of the men who were secretly growing more and more favourable to the Pretender's return. Never, indeed, had the chances of his restoration appeared so great. General Stanhope, on the close of the elections, told the Hanoverian minister that the majority was against them, and that if things continued ever so short a time on the present footing, the Elector would not come to the Crown unless he came with an army.
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