THREE:
FORE:On the death of Stanhope, Sir Robert Walpole was left without a rival, and he received his commission of First Lord of the Treasury on the 2nd of April, and from this period down to 1742 he continued to direct the government of Great Britain. His chief anxiety now was to restore the public credit. He drew up, as Chairman of the Committee of the Commons, a report of all that had been lost in the late excitements, and of the measures that had been adopted to remedy the costs incurred. Amongst these were the resolutions of the House respecting the seven and a half millions the directors of the South Sea Company had agreed to pay to Government; more than five had been remitted, and we may add that on the clamorous complaints of the Company the remainder was afterwards remitted too. The forfeited estates had been made to clear off a large amount of encumbrance, the credit of the Company's bonds had been maintained, and thirty-three per cent. of the capital paid to the proprietors. Such were the[49] measures adopted by the Commons, and these being stated in the report to the king, a Bill was brought in embodying them all. Many of the proprietors, however, were not satisfied. They were very willing to forget their own folly and greediness, and charge the blame on the Government. On the second reading of Walpole's Bill they thronged the lobby of the House of Commons. The next day the Bill was carried, and gradually produced quiet; but Walpole himself did not escape without severe animadversions. He was accused of having framed his measures in collusion with the Bank, and with a clear eye to his own interest; but he had been strenuously vindicated from the charge, and on the whole the vigour and boldness with which he encountered the storm and quelled it deserve the highest praise, and may well cover a certain amount of self-interest, from which few Ministers are free.Landor's fear of leaving the settlements unguarded grew. "We will get up among these mountains and be delayed, and we are in no condition whatever to travel, anyway," he told Brewster, as the advance[Pg 119] guard halted again, and Landor, with curses in his heart but a civil tongue withal, trotted up to them.
THREE:They must know Jeff, added Larry.
FORE:When Parliament reassembled, Fox seized the very earliest moment to address the Chair and occupy the attention of the House. He rose at the unusually early hour of half-past two o'clock in the day, before the newly returned members had taken their oaths. Pitt himself was in this predicament, but, as soon as he had taken his oath, he rose to speak; but Fox contended that he was already in possession of the House, and, though Pitt announced that he had a message from the king, Fox persisted, and moved that the House should go into committee on the state of the nation. This allowed Pitt to speak, who declared that he had no objection to the committee; but he thought it more advisable to go into the question of India, on which subject he proposed to introduce a Bill. He then made some sharp remarks on the conduct of Fox in thus seizing, by artifice, a precedence in speaking, and on the petulance and clamour which the Opposition had displayed, and on the violent and unprecedented nature of their conduct, by which they hoped to inflame the spirit of the country and excite unnecessary jealousies. In truth, Fox and his party were now running a most unwise career. Possessed of a large majority, they were indignant that the king should have dismissed them, and thought that they could outvote the new Ministry, and drive them again from office. They had, no doubt, such a majority; but, at the same time, they had the king resolute against them. They had insulted him by their violent denunciations of his letter, and they had not, in their anger, the discernment to perceive that not only would this be made use of by their opponents to injure them, both in Parliament and out of it, but their proceeding with so much heat and violence was calculated to make them appear factiousmore concerned for their places than for the interests of the country. All this took place; the king and Ministry saw how all this would operate, and calmly awaited its effects. Fox and his party were, however, blind to the signs of the times, and carried no less than five resolutions against the Government.[Pg 276]
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THREE:The king and his war cabinet were now compelled to sue to France for the peace which was so freely offered the year before. Newcastle wrote to Sandwich in April, that the impossibility of arresting the progress of the French army, the discordant pretensions of the Allies, and their gross neglect of their engagements, rendered it absolutely necessary to make peace. Sandwich was to communicate this necessity to the Plenipotentiaries of the Allies, and if they declined to assent to it, to sign the preliminaries without them. The Ministers of the Allies still refused to join; it suited them very well to receive vast subsidies to fight their own battles, and yet to leave England to fight them. On the other hand, Count St. Severin, the Plenipotentiary of France, now felt his vantage-ground, and offered far worse terms than before, and, to force their acceptance, threatened that if they were not agreed to without delay, the French would leave the fortifications of Ypres, Namur, and Bergen-op-Zoom, and march directly into Holland. The treaty was signed by England, France, and Holland on the 18th of April. The general conditions were a mutual restoration of conquests. All the nations were placed very much in statu quo, except that Prussia had got Silesia, and Sardinia had lost Placentia and Finale. As for England, she firmly established her maritime supremacy, which from that date has remained unchallenged. The Young Pretender was compelled to leave France, and thenceforward ceased to be of any political importance."Hire to him!" exclaimed Taylor, "what for?"
FORE:
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THREE:
FORE:Golly-glory-gracious! It does look that way!
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