The History of England, from the Accession of James II — Volume 4

The blow was quickly followed up. A few days later it was moved that all subjects of England had equal right to trade to the East Indies unless prohibited by Act of Parliament; and the supporters of the Old Company, sensible that they were in a minority, suffered the motion to pass without a division. 497 (#x24_x_24_i333)

This memorable vote settled the most important of the constitutional questions which had been left unsettled by the Bill of Rights. It has ever since been held to be the sound doctrine that no power but that of the whole legislature can give to any person or to any society an exclusive privilege of trading to any part of the world.

The opinion of the great majority of the House of Commons was that the Indian trade could be advantageously carried on only by means of a joint stock and a monopoly. It might therefore have been expected that the resolution which destroyed the monopoly of the Old Company would have been immediately followed by a law granting a monopoly to the New Company. No such law, however, was passed. The Old Company, though not strong enough to defend its own privileges, was able, with the help of its Tory friends, to prevent the rival association from obtaining similar privileges. The consequence was that, during some years, there was nominally a free trade with India. In fact, the trade still lay under severe restrictions. The private adventurer found indeed no difficulty in sailing from England; but his situation was as perilous as ever when he had turned the Cape of Good Hope. Whatever respect might be paid to a vote of the House of Commons by public functionaries in London, such a vote was, at Bombay or Calcutta, much less regarded than a private letter from Child; and Child still continued to fight the battle with unbroken spirit. He sent out to the factories of the Company orders that no indulgence should be shown to the intruders. For the House of Commons and for its resolutions he expressed the bitterest contempt. "Be guided by my instructions," he wrote, "and not by the nonsense of a few ignorant country gentlemen who have hardly wit enough to manage their own private affairs, and who know nothing at all about questions of trade." It appears that his directions were obeyed.

Every where in the East, during this period of anarchy, servant of the Company and the independent merchant waged war on each other, accused each other of piracy, and tried by every artifice to exasperate the Mogul government against each other. 498 (#x24_x_24_i336)

The three great constitutional questions of the preceding year were, in this year, again brought under the consideration of Parliament. In the first week of the session, a Bill for the Regulation of Trials in cases of High Treason, a Triennial Bill, and a Place Bill were laid on the table of the House of Commons.

None of these bills became a law. The first passed the Commons, but was unfavourably received by the Peers. William took so much interest in the question that he came down to the House of Lords, not in his crown and robes, but in the ordinary dress of a gentleman, and sate through the whole debate on the second reading. Caermarthen spoke of the dangers to which the State was at that time exposed, and entreated his brethren not to give, at such a moment, impunity to traitors. He was powerfully supported by two eminent orators, who had, during some years, been on the uncourtly side of every question, but who, in this session, showed a disposition to strengthen the hands of the government, Halifax and Mulgrave. Marlborough, Rochester and Nottingham spoke for the bill; but the general feeling was so clearly against them that they did not venture to divide. It is probable, however, that the reasons urged by Caermarthen were not the reasons which chiefly swayed his hearers. The Peers were fully determined that the bill should not pass without a clause altering the constitution of the Court of the Lord High Steward: they knew that the Lower House was as fully determined not to pass such a clause; and they thought it better that what must happen at last should happen speedily, and without a quarrel. 499 (#x24_x_24_i339)

The fate of the Triennial Bill confounded all the calculations of the best informed politicians of that time, and may therefore well seem extraordinary to us. During the recess, that bill had been described in numerous pamphlets, written for the most part by persons zealous for the Revolution and for popular principles of government, as the one thing needful, as the universal cure for the distempers of the State. On the first, second and third readings in the House of Commons no division took place. The Whigs were enthusiastic. The Tories seemed to be acquiescent. It was understood that the King, though he had used his Veto for the purpose of giving the Houses an opportunity of reconsidering the subject, had no intention of offering a pertinacious opposition to their wishes. But Seymour, with a cunning which long experience had matured, after deferring the conflict to the last moment, snatched the victory from his adversaries, when they were most secure. When the Speaker held up the bill in his hands, and put the question whether it should pass, the Noes were a hundred and forty-six, the Ayes only a hundred and thirty-six. 500 (#x24_x_24_i342) Some eager Whigs flattered themselves that their defeat was the effect of a surprise, and might be retrieved. Within three days, therefore, Monmouth, the most ardent and restless man in the whole party, brought into the Upper House a bill substantially the same with that which had so strangely miscarried in the Lower. The Peers passed this bill very expeditiously, and sent it down to the Commons. But in the Commons it found no favour. Many members, who professed to wish that the duration of parliaments should be limited, resented the interference of the hereditary branch of the legislature in a matter which peculiarly concerned the elective branch. The subject, they said, is one which especially belongs to us; we have considered it; we have come to a decision; and it is scarcely parliamentary, it is certainly most indelicate, in their Lordships, to call upon us to reverse that decision. The question now is, not whether the duration of parliaments ought to be limited, but whether we ought to submit our judgment to the authority of the Peers, and to rescind, at their bidding, what we did only a fortnight ago. The animosity with which the patrician order was regarded was inflamed by the arts and the eloquence of Seymour. The bill contained a definition of the words, "to hold a Parliament." This definition was scrutinised with extreme jealousy, and was thought by many, with very little reason, to have been framed for the purpose of extending the privileges, already invidiously great, of the nobility. It appears, from the scanty and obscure fragments of the debates which have come down to us, that bitter reflections were thrown on the general conduct, both political and judicial, of the Peers. Old Titus, though zealous for triennial parliaments, owned that he was not surprised at the ill humour which many gentlemen showed. "It is true," he said, "that we ought to be dissolved; but it is rather hard, I must own, that the Lords are to prescribe the time of our dissolution. The Apostle Paul wished to be dissolved; but, I doubt, if his friends had set him a day, he would not have taken it kindly of them." The bill was rejected by a hundred and ninety-seven votes to a hundred and twenty-seven. 501 (#x24_x_24_i345)

The Place Bill, differing very little from the Place Bill which had been brought in twelve months before, passed easily through the Commons. Most of the Tories supported it warmly; and the Whigs did not venture to oppose it. It went up to the Lords, and soon came back completely changed. As it had been originally drawn, it provided that no member of the House of Commons, elected after the first of January, 1694, should accept any place of profit under the Crown, on pain of forfeiting his seat, and of being incapable of sitting again in the same Parliament. The Lords had added the words, "unless he be afterwards again chosen to serve in the same Parliament." These words, few as they were, sufficed to deprive the bill of nine tenths of its efficacy, both for good and for evil. It was most desirable that the crowd of subordinate public functionaries should be kept out of the House of Commons. It was most undesirable that the heads of the great executive departments should be kept out of that House. The bill, as altered, left that House open both to those who ought and to those who ought not to have been admitted. It very properly let in the Secretaries of State and the Chancellor of the Exchequer; but it let in with them Commissioners of Wine Licenses and Commissioners of the Navy, Receivers, Surveyors, Storekeepers, Clerks of the Acts and Clerks of the Cheque, Clerks of the Green Cloth and Clerks of the Great Wardrobe. So little did the Commons understand what they were about that, after framing a law, in one view most mischievous, and in another view most beneficial, they were perfectly willing that it should be transformed into a law quite harmless and almost useless. They agreed to the amendment; and nothing was now wanting but the royal sanction.

That sanction certainly ought not to have been withheld, and probably would not have been withheld, if William had known how unimportant the bill now was. But he understood the question as little as the Commons themselves. He knew that they imagined that they had devised a most stringent limitation of the royal power; and he was determined not to submit, without a struggle, to any such limitation. He was encouraged by the success with which he had hitherto resisted the attempts of the two Houses to encroach on his prerogative. He had refused to pass the bill which quartered the judges on his hereditary revenue; and the Parliament had silently acquiesced in the justice of the refusal. He had refused to pass the Triennial Bill; and the Commons had since, by rejecting two Triennial Bills, acknowledged that he had done well. He ought, however, to have considered that, on both these occasions, the announcement of his refusal was immediately followed by the announcement that the Parliament was prorogued. On both these occasions, therefore, the members had half a year to think and to grow cool before the next sitting. The case was now very different. The principal business of the session was hardly begun: estimates were still under consideration: bills of supply were still depending; and, if the Houses should take a fit of ill humour, the consequences might be serious indeed.

He resolved, however, to run the risk. Whether he had any adviser is not known. His determination seems to have taken both the leading Whigs and the leading Tories by surprise. When the Clerk had proclaimed that the King and Queen would consider of the bill touching free and impartial proceedings in Parliament, the Commons retired from the bar of the Lords in a resentful and ungovernable mood. As soon as the Speaker was again in his chair there was a long and tempestuous debate. All other business was postponed. All committees were adjourned. It was resolved that the House would, early the next morning, take into consideration the state of the nation. When the morning came, the excitement did not appear to have abated. The mace was sent into Westminster Hall and into the Court of Requests. All members who could be found were brought into the House. That none might be able to steal away unnoticed, the back door was locked, and the key laid on the table. All strangers were ordered to retire. With these solemn preparations began a sitting which reminded a few old men of some of the first sittings of the Kong Parliament. High words were uttered by the enemies of the government. Its friends, afraid of being accused of abandoning the cause of the Commons of England for the sake of royal favour, hardly ventured to raise their voices. Montague alone seems to have defended the King. Lowther, though high in office and a member of the cabinet, owned that there were evil influences at work, and expressed a wish to see the Sovereign surrounded by counsellors in whom the representatives of the people could confide. Harley, Foley and Howe carried every thing before them. A resolution, affirming that those who had advised the Crown on this occasion were public enemies, was carried with only two or three Noes. Harley, after reminding his hearers that they had their negative voice as the King had his, and that, if His Majesty refused then redress, they could refuse him money, moved that they should go up to the Throne, not, as usual, with a Humble Address, but with a Representation. Some members proposed to substitute the more respectful word Address: but they were overruled; and a committee was appointed to draw up the Representation.

Another night passed; and, when the House met again, it appeared that the storm had greatly subsided. The malignant joy and the wild hopes which the Jacobites had, during the last forty-eight hours, expressed with their usual imprudence, had incensed and alarmed the Whigs and the moderate Tories. Many members too were frightened by hearing that William was fully determined not to yield without an appeal to the nation. Such an appeal might have been successful: for a dissolution, on any ground whatever, would, at that moment, have been a highly popular exercise of the prerogative. The constituent bodies, it was well known, were generally zealous for the Triennial Bill, and cared comparatively little about the Place Bill. Many Tory members, therefore, who had recently voted against the Triennial Bill, were by no means desirous to run the risks of a general election. When the Representation which Harley and his friends had prepared was read, it was thought offensively strong. After being recommitted, shortened and softened, it was presented by the whole House. William's answer was kind and gentle; but he conceded nothing. He assured the Commons that he remembered with gratitude the support which he had on many occasions received from them, that he should always consider their advice as most valuable, and that he should look on counsellors who might attempt to raise dissension between him and his Parliament as his enemies but he uttered not a word which could be construed into an acknowledgment that he had used his Veto ill, or into a promise that he would not use it again.

The Commons on the morrow took his speech into consideration. Harley and his allies complained that the King's answer was no answer at all, threatened to tack the Place Bill to a money bill, and proposed to make a second representation pressing His Majesty to explain himself more distinctly. But by this time there was a strong reflux of feeling in the assembly. The Whigs had not only recovered from their dismay, but were in high spirits and eager for conflict. Wharton, Russell and Littleton maintained that the House ought to be satisfied with what the King had said. "Do you wish," said Littleton, "to make sport for your enemies? There is no want of them. They besiege our very doors. We read, as we come through the lobby, in the face and gestures of every nonjuror whom we pass, delight at the momentary coolness which has arisen between us and the King. That should be enough for us. We may be sure that we are voting rightly when we give a vote which tends to confound the hopes of traitors." The House divided. Harley was a teller on one side, Wharton on the other. Only eighty-eight voted with Harley, two hundred and twenty-nine with Wharton. The Whigs were so much elated by their victory that some of them wished to move a vote of thanks to William for his gracious answer; but they were restrained by wiser men. "We have lost time enough already in these unhappy debates," said a leader of the party. "Let us get to Ways and Means as fast as we can. The best form which our thanks can take is that of a money bill."

Thus ended, more happily than William had a right to expect, one of the most dangerous contests in which he ever engaged with his Parliament. At the Dutch Embassy the rising and going down of this tempest had been watched with intense interest; and the opinion there seems to have been that the King had on the whole lost neither power nor popularity by his conduct. 502 (#x24_x_24_i348)

Another question, which excited scarcely less angry feeling in Parliament and in the country, was, about the same time, under consideration. On the sixth of December, a Whig member of the House of Commons obtained leave to bring in a bill for the Naturalisation of Foreign Protestants. Plausible arguments in favour of such a bill were not wanting. Great numbers of people, eminently industrious and intelligent, firmly attached to our faith, and deadly enemies of our deadly enemies, were at that time without a country. Among the Huguenots who had fled from the tyranny of the French King were many persons of great fame in war, in letters, in arts and in sciences; and even the humblest refugees were intellectually and morally above the average of the common people of any kingdom in Europe. With French Protestants who had been driven into exile by the edicts of Lewis were now mingled German Protestants who had been driven into exile by his arms. Vienna, Berlin, Basle, Hamburg, Amsterdam, London, swarmed with honest laborious men who had once been thriving burghers of Heidelberg or Mannheim, or who had cultivated vineyards along the banks of the Neckar and the Rhine. A statesman might well think that it would be at once generous and politic to invite to the English shores and to incorporate with the English people emigrants so unfortunate and so respectable. Their ingenuity and their diligence could not fail to enrich any land which should afford them an asylum; nor could it be doubted that they would manfully defend the country of their adoption against him whose cruelty had driven them from the country of their birth.

The first two readings passed without a division. But, on the motion that the bill should be committed, there was a debate in which the right of free speech was most liberally used by the opponents of the government. It was idle, they said, to talk about the poor Huguenots or the poor Palatines. The bill was evidently meant for the benefit, not of French Protestants or German Protestants, but of Dutchmen, who would be Protestants, Papists or Pagans for a guilder a head, and who would, no doubt, be as ready to sign the Declaration against Transubstantiation in England as to trample on the Cross in Japan. They would come over in multitudes. They would swarm in every public office. They would collect the customs, and gauge the beer barrels. Our Navigation Laws would be virtually repealed. Every merchant ship that cleared out from the Thames or the Severn would be manned by Zealanders and Hollanders and Frieslanders. To our own sailors would be left the hard and perilous service of the royal navy. For Hans, after filling the pockets of his huge trunk hose with our money by assuming the character of a native, would, as soon as a pressgang appeared, lay claim to the privileges of an alien. The intruders would soon rule every corporation. They would elbow our own Aldermen off the Royal Exchange. They would buy the hereditary woods and halls of our country gentlemen. Already one of the most noisome of the plagues of Egypt was among us. Frogs had made their appearance even in the royal chambers. Nobody could go to Saint James's without being disgusted by hearing the reptiles of the Batavian marshes croaking all round him; and if this bill should pass, the whole country would be as much infested by the loathsome brood as the palace already was.

The orator who indulged himself most freely in this sort of rhetoric was Sir John Knight, member for Bristol, a coarseminded and spiteful Jacobite, who, if he had been an honest man, would have been a nonjuror. Two years before, when Mayor of Bristol, he had acquired a discreditable notoriety by treating with gross disrespect a commission sealed with the great seal of the Sovereigns to whom he had repeatedly sworn allegiance, and by setting on the rabble of his city to hoot and pelt the Judges. 503 (#x24_x_24_i351) He now concluded a savage invective by desiring that the Serjeant at Arms would open the doors, in order that the odious roll of parchment, which was nothing less than a surrender of the birthright of the English people, might be treated with proper contumely. "Let us first," he said, "kick the bill out of the House; and then let us kick the foreigners out of the kingdom."

On a division the motion for committing the bill was carried by a hundred and sixty-three votes to a hundred and twenty-eight. 504 (#x24_x_24_i354) But the minority was zealous and pertinacious; and the majority speedily began to waver. Knight's speech, retouched and made more offensive, soon appeared in print without a license. Tens of thousands of copies were circulated by the post, or dropped in the streets; and such was the strength of national prejudice that too many persons read this ribaldry with assent and admiration. But, when a copy was produced in the House, there was such an outbreak of indignation and disgust, as cowed even the impudent and savage nature of the orator. Finding himself in imminent danger of being expelled and sent to prison, he apologized, and disclaimed all knowledge of the paper which purported to be a report of what he had said. He escaped with impunity; but his speech was voted false, scandalous and seditious, and was burned by the hangman in Palace Yard. The bill which had caused all this ferment was prudently suffered to drop. 505 (#x24_x_24_i357)

Meanwhile the Commons were busied with financial questions of grave importance. The estimates for the year 1694 were enormous. The King proposed to add to the regular army, already the greatest regular army that England had ever supported, four regiments of dragoons, eight of horse, and twenty-five of infantry. The whole number of men, officers included, would thus be increased to about ninety-four thousand. 506 (#x24_x_24_i360) Cromwell, while holding down three reluctant kingdoms, and making vigorous war on Spain in Europe and America, had never had two thirds of the military force which William now thought necessary. The great body of the Tories, headed by three Whig chiefs, Harley, Foley and Howe, opposed any augmentation. The great body of the Whigs, headed by Montague and Wharton, would have granted all that was asked. After many long discussions, and probably many close divisions, in the Committee of Supply, the King obtained the greater part of what he demanded. The House allowed him four new regiments of dragoons, six of horse, and fifteen of infantry. The whole number of troops voted for the year amounted to eighty-three thousand, the charge to more than two millions and a half, including about two hundred thousand pounds for the ordnance. 507 (#x24_x_24_i363)

The naval estimates passed much more rapidly; for Whigs and Tories agreed in thinking that the maritime ascendency of England ought to be maintained at any cost. Five hundred thousand pounds were voted for paying the arrears due to seamen, and two millions for the expenses of the year 1694. 508 (#x24_x_24_i366)

The Commons then proceeded to consider the Ways and Means. The land tax was renewed at four shillings in the pound; and by this simple but powerful machinery about two millions were raised with certainty and despatch. 509 (#x24_x_24_i369) A poll tax was imposed. 510 (#x24_x_24_i372) Stamp duties had long been among the fiscal resources of Holland and France, and had existed here during part of the reign of Charles the Second, but had been suffered to expire. They were now revived; and they have ever since formed an important part of the revenue of the State. 511 (#x24_x_24_i375) The hackney coaches of the capital were taxed, and were placed under the government of commissioners, in spite of the resistance of the wives of the coachmen, who assembled round Westminster Hall and mobbed the members. 512 (#x24_x_24_i378) But, notwithstanding all these expedients, there was still a large deficiency; and it was again necessary to borrow. A new duty on salt and some other imposts of less importance were set apart to form a fund for a loan. On the security of this fund a million was to be raised by a lottery, but a lottery which had scarcely any thing but the name in common with the lotteries of a later period. The sum to be contributed was divided into a hundred thousand shares of ten pounds each. The interest on each share was to be twenty shillings annually, or, in other words, ten per cent., during sixteen years. But ten per cent. for sixteen years was not a bait which was likely to attract lenders. An additional lure was therefore held out to capitalists. On one fortieth of the shares much higher interest was to be paid than on the other thirty-nine fortieths. Which of the shares should be prizes was to be determined by lot. The arrangements for the drawing of the tickets were made by an adventurer of the name of Neale, who, after squandering away two fortunes, had been glad to become groom porter at the palace. His duties were to call the odds when the Court played at hazard, to provide cards and dice, and to decide any dispute which might arise on the bowling green or at the gaming table. He was eminently skilled in the business of this not very exalted post, and had made such sums by raffles that he was able to engage in very costly speculations, and was then covering the ground round the Seven Dials with buildings. He was probably the best adviser that could have been consulted about the details of a lottery. Yet there were not wanting persons who thought it hardly decent in the Treasury to call in the aid of a gambler by profession. 513 (#x24_x_24_i381)

By the lottery loan, as it was called, one million was obtained. But another million was wanted to bring the estimated revenue for the year 1694 up to a level with the estimated expenditure. The ingenious and enterprising Montague had a plan ready, a plan to which, except under the pressure of extreme pecuniary difficulties, he might not easily have induced the Commons to assent, but which, to his large and vigorous mind, appeared to have advantages, both commercial and political, more important than the immediate relief to the finances. He succeeded, not only in supplying the wants of the State for twelve months, but in creating a great institution, which, after the lapse of more than a century and a half, continues to flourish, and which he lived to see the stronghold, through all vicissitudes, of the Whig party, and the bulwark, in dangerous times, of the Protestant succession.

In the reign of William old men were still living who could remember the days when there was not a single banking house in the city of London. So late as the time of the Restoration every trader had his own strong box in his own house, and, when an acceptance was presented to him, told down the crowns and Caroluses on his own counter. But the increase of wealth had produced its natural effect, the subdivision of labour. Before the end of the reign of Charles the Second, a new mode of paying and receiving money had come into fashion among the merchants of the capital. A class of agents arose, whose office was to keep the cash of the commercial houses. This new branch of business naturally fell into the hands of the goldsmiths, who were accustomed to traffic largely in the precious metals, and who had vaults in which great masses of bullion could lie secure from fire and from robbers. It was at the shops of the goldsmiths of Lombard Street that all the payments in coin were made. Other traders gave and received nothing but paper.

This great change did not take place without much opposition and clamour. Oldfashioned merchants complained bitterly that a class of men who, thirty years before, had confined themselves to their proper functions, and had made a fair profit by embossing silver bowls and chargers, by setting jewels for fine ladies, and by selling pistoles and dollars to gentlemen setting out for the Continent, had become the treasurers, and were fast becoming the masters, of the whole City. These usurers, it was said, played at hazard with what had been earned by the industry and hoarded by the thrift of other men. If the dice turned up well, the knave who kept the cash became an alderman; if they turned up ill, the dupe who furnished the cash became a bankrupt. On the other side the conveniences of the modern practice were set forth in animated language. The new system, it was said, saved both labour and money. Two clerks, seated in one counting house, did what, under the old system, must have been done by twenty clerks in twenty different establishments. A goldsmith's note might be transferred ten times in a morning; and thus a hundred guineas, locked in his safe close to the Exchange, did what would formerly have required a thousand guineas, dispersed through many tills, some on Ludgate Hill, some in Austin Friars, and some in Tower Street. 514 (#x24_x_24_i384)

Gradually even those who had been loudest in murmuring against the innovation gave way and conformed to the prevailing usage. The last person who held out, strange to say, was Sir Dudley North. When, in 1680, after residing many years abroad, he returned to London, nothing astonished or displeased him more than the practice of making payments by drawing bills on bankers. He found that he could not go on Change without being followed round the piazza by goldsmiths, who, with low bows, begged to have the honour of serving him. He lost his temper when his friends asked where he kept his cash. "Where should I keep it," he asked, "but in my own house?" With difficulty he was induced to put his money into the hands of one of the Lombard Street men, as they were called. Unhappily, the Lombard Street man broke, and some of his customers suffered severely. Dudley North lost only fifty pounds; but this loss confirmed him in his dislike of the whole mystery of banking. It was in vain, however, that he exhorted his fellow citizens to return to the good old practice, and not to expose themselves to utter ruin in order to spare themselves a little trouble. He stood alone against the whole community. The advantages of the modern system were felt every hour of every day in every part of London; and people were no more disposed to relinquish those advantages for fear of calamities which occurred at long intervals than to refrain from building houses for fear of fires, or from building ships for fear of hurricanes. It is a curious circumstance that a man who, as a theorist, was distinguished from all the merchants of his time by the largeness of his views and by his superiority to vulgar prejudices, should, in practice, have been distinguished from all the merchants of his time by the obstinacy with which he adhered to an ancient mode of doing business, long after the dullest and most ignorant plodders had abandoned that mode for one better suited to a great commercial society. 515 (#x24_x_24_i387)

No sooner had banking become a separate and important trade, than men began to discuss with earnestness the question whether it would be expedient to erect a national bank. The general opinion seems to have been decidedly in favour of a national bank; nor can we wonder at this; for few were then aware that trade is in general carried on to much more advantage by individuals than by great societies; and banking really is one of those few trades which can be carried on to as much advantage by a great society as by an individual. Two public banks had long been renowned throughout Europe, the Bank of Saint George at Genoa, and the Bank of Amsterdam. The immense wealth which was in the keeping of those establishments, the confidence which they inspired, the prosperity which they had created, their stability, tried by panics, by wars, by revolutions, and found proof against all, were favourite topics. The bank of Saint George had nearly completed its third century. It had begun to receive deposits and to make loans before Columbus had crossed the Atlantic, before Gama had turned the Cape, when a Christian Emperor was reigning at Constantinople, when a Mahomedan Sultan was reigning at Granada, when Florence was a Republic, when Holland obeyed a hereditary Prince. All these things had been changed. New continents and new oceans had been discovered. The Turk was at Constantinople; the Castilian was at Granada; Florence had its hereditary Prince; Holland was a Republic; but the Bank of Saint George was still receiving deposits and making loans. The Bank of Amsterdam was little more than eighty years old; but its solvency had stood severe tests. Even in the terrible crisis of 1672, when the whole Delta of the Rhine was overrun by the French armies, when the white flags were seen from the top of the Stadthouse, there was one place where, amidst the general consternation and confusion, tranquillity and order were still to be found; and that place was the Bank. Why should not the Bank of London be as great and as durable as the Banks of Genoa and of Amsterdam? Before the end of the reign of Charles the Second several plans were proposed, examined, attacked and defended. Some pamphleteers maintained that a national bank ought to be under the direction of the King. Others thought that the management ought to be entrusted to the Lord Mayor, Aldermen and Common Council of the capital. 516 (#x24_x_24_i390) After the Revolution the subject was discussed with an animation before unknown. For, under the influence of liberty, the breed of political projectors multiplied exceedingly. A crowd of plans, some of which resemble the fancies of a child or the dreams of a man in a fever, were pressed on the government. Preeminently conspicuous among the political mountebanks, whose busy faces were seen every day in the lobby of the House of Commons, were John Briscoe and Hugh Chamberlayne, two projectors worthy to have been members of that Academy which Gulliver found at Lagado. These men affirmed that the one cure for every distemper of the State was a Land Bank. A Land Bank would work for England miracles such as had never been wrought for Israel, miracles exceeding the heaps of quails and the daily shower of manna. There would be no taxes; and yet the Exchequer would be full to overflowing. There would be no poor rates; for there would be no poor. The income of every landowner would be doubled. The profits of every merchant would be increased. In short, the island would, to use Briscoe's words, be the paradise of the world. The only losers would be the moneyed men, those worst enemies of the nation, who had done more injury to the gentry and yeomanry than an invading army from France would have had the heart to do. 517 (#x24_x_24_i393)

These blessed effects the Land Bank was to produce simply by issuing enormous quantities of notes on landed security. The doctrine of the projectors was that every person who had real property ought to have, besides that property, paper money to the full value of that property. Thus, if his estate was worth two thousand pounds, he ought to have his estate and two thousand pounds in paper money. 518 (#x24_x_24_i396) Both Briscoe and Chamberlayne treated with the greatest contempt the notion that there could be an overissue of paper as long as there was, for every ten pound note, a piece of land in the country worth ten pounds. Nobody, they said, would accuse a goldsmith of overissuing as long as his vaults contained guineas and crowns to the full value of all the notes which bore his signature. Indeed no goldsmith had in his vaults guineas and crowns to the full value of all his paper. And was not a square mile of rich land in Taunton Dean at least as well entitled to be called wealth as a bag of gold or silver? The projectors could not deny that many people had a prejudice in favour of the precious metals, and that therefore, if the Land Bank were bound to cash its notes, it would very soon stop payment. This difficulty they got over by proposing that the notes should be inconvertible, and that every body should be forced to take them.

The speculations of Chamberlayne on the subject of the currency may possibly find admirers even in our own time. But to his other errors he added an error which began and ended with him. He was fool enough to take it for granted, in all his reasonings, that the value of an estate varied directly as the duration. He maintained that if the annual income derived from a manor were a thousand pounds, a grant of that manor for twenty years must be worth twenty thousand pounds, and a grant for a hundred years worth a hundred thousand pounds. If, therefore, the lord of such a manor would pledge it for a hundred years to the Land Bank, the Land Bank might, on that security, instantly issue notes for a hundred thousand pounds. On this subject Chamberlayne was proof to ridicule, to argument, even to arithmetical demonstration. He was reminded that the fee simple of land would not sell for more than twenty years' purchase. To say, therefore, that a term of a hundred years was worth five times as much as a term of twenty years, was to say that a term of a hundred years was worth five times the fee simple; in other words, that a hundred was five times infinity. Those who reasoned thus were refuted by being told that they were usurers; and it should seem that a large number of country gentlemen thought the refutation complete. 519 (#x24_x_24_i399)

In December 1693 Chamberlayne laid his plan, in all its naked absurdity, before the Commons, and petitioned to be heard. He confidently undertook to raise eight thousand pounds on every freehold estate of a hundred and fifty pounds a year which should be brought, as he expressed it, into his Land Bank, and this without dispossessing the freeholder. 520 (#x24_x_24_i402) All the squires in the House must have known that the fee simple of such an estate would hardly fetch three thousand pounds in the market. That less than the fee simple of such an estate could, by any device, be made to produce eight thousand pounds, would, it might have been thought, have seemed incredible to the most illiterate foxhunter that could be found on the benches. Distress, however, and animosity had made the landed gentlemen credulous. They insisted on referring Chamberlayne's plan to a committee; and the committee reported that the plan was practicable, and would tend to the benefit of the nation. 521 (#x24_x_24_i405) But by this time the united force of demonstration and derision had begun to produce an effect even on the most ignorant rustics in the House. The report lay unnoticed on the table; and the country was saved from a calamity compared with which the defeat of Landen and the loss of the Smyrna fleet would have been blessings.

All the projectors of this busy time, however, were not so absurd as Chamberlayne. One among them, William Paterson, was an ingenious, though not always a judicious, speculator. Of his early life little is known except that he was a native of Scotland, and that he had been in the West Indies. In what character he had visited the West Indies was a matter about which his contemporaries differed. His friends said that he had been a missionary; his enemies that he had been a buccaneer. He seems to have been gifted by nature with fertile invention, an ardent temperament and great powers of persuasion, and to have acquired somewhere in the course of his vagrant life a perfect knowledge of accounts.

This man submitted to the government, in 1691, a plan of a national bank; and his plan was favourably received both by statesmen and by merchants. But years passed away; and nothing was done, till, in the spring of 1694, it became absolutely necessary to find some new mode of defraying the charges of the war. Then at length the scheme devised by the poor and obscure Scottish adventurer was taken up in earnest by Montague. With Montague was closely allied Michael Godfrey, the brother of that Sir Edmondsbury Godfrey whose sad and mysterious death had, fifteen years before, produced a terrible outbreak of popular feeling. Michael was one of the ablest, most upright and most opulent of the merchant princes of London. He was, as might have been expected from his near connection with the martyr of the Protestant faith, a zealous Whig. Some of his writings are still extant, and prove him to have had a strong and clear mind.

By these two distinguished men Paterson's scheme was fathered. Montague undertook to manage the House of Commons, Godfrey to manage the City. An approving vote was obtained from the Committee of Ways and Means; and a bill, the title of which gave occasion to many sarcasms, was laid on the table. It was indeed not easy to guess that a bill, which purported only to impose a new duty on tonnage for the benefit of such persons as should advance money towards carrying on the war, was really a bill creating the greatest commercial institution that the world had ever seen.

The plan was that twelve hundred thousand pounds should be borrowed by the government on what was then considered as the moderate interest of eight per cent. In order to induce capitalists to advance the money promptly on terms so favourable to the public, the subscribers were to be incorporated by the name of the Governor and Company of the Bank of England. The corporation was to have no exclusive privilege, and was to be restricted from trading in any thing but bills of exchange, bullion and forfeited pledges.

As soon as the plan became generally known, a paper war broke out as furious as that between the swearers and the nonswearers, or as that between the Old East India Company and the New East India Company. The projectors who had failed to gain the ear of the government fell like madmen on their more fortunate brother. All the goldsmiths and pawnbrokers set up a howl of rage. Some discontented Tories predicted ruin to the monarchy. It was remarkable, they said, that Banks and Kings had never existed together. Banks were republican institutions. There were flourishing banks at Venice, at Genoa, at Amsterdam and at Hamburg. But who had ever heard of a Bank of France or a Bank of Spain? 522 (#x24_x_24_i408) Some discontented Whigs, on the other hand, predicted ruin to our liberties. Here, they said, is an instrument of tyranny more formidable than the High Commission, than the Star Chamber, than even the fifty thousand soldiers of Oliver. The whole wealth of the nation will be in the hands of the Tonnage Bank,—such was the nickname then in use;—and the Tonnage Bank will be in the hands of the Sovereign. The power of the purse, the one great security for all the rights of Englishmen, will be transferred from the House of Commons to the Governor and Directors of the new Company. This last consideration was really of some weight, and was allowed to be so by the authors of the bill. A clause was therefore most properly inserted which inhibited the Bank from advancing money to the Crown without authority from Parliament. Every infraction of this salutary rule was to be punished by forfeiture of three times the sum advanced; and it was provided that the King should not have power to remit any part of the penalty.

The plan, thus amended, received the sanction of the Commons more easily than might have been expected from the violence of the adverse clamour. In truth, the Parliament was under duress. Money must be had, and could in no other way be had so easily. What took place when the House had resolved itself into a committee cannot be discovered; but, while the Speaker was in the chair, no division took place. The bill, however, was not safe when it had reached the Upper House. Some Lords suspected that the plan of a national bank had been devised for the purpose of exalting the moneyed interest at the expense of the landed interest. Others thought that this plan, whether good or bad, ought not to have been submitted to them in such a form. Whether it would be safe to call into existence a body which might one day rule the whole commercial world, and how such a body should be constituted, were questions which ought not to be decided by one branch of the Legislature. The Peers ought to be at perfect liberty to examine all the details of the proposed scheme, to suggest amendments, to ask for conferences. It was therefore most unfair that the law establishing the Bank should be sent up as part of a law granting supplies to the Crown. The Jacobites entertained some hope that the session would end with a quarrel between the Houses, that the Tonnage Bill would be lost, and that William would enter on the campaign without money. It was already May, according to the New Style. The London season was over; and many noble families had left Covent Garden and Soho Square for their woods and hayfields. But summonses were sent out. There was a violent rush back to town. The benches which had lately been deserted were crowded. The sittings began at an hour unusually early, and were prolonged to an hour unusually late. On the day on which the bill was committed the contest lasted without intermission from nine in the morning till six in the evening. Godolphin was in the chair. Nottingham and Rochester proposed to strike out all the clauses which related to the Bank. Something was said about the danger of setting up a gigantic corporation which might soon give law to the King and the three Estates of the Realm. But the Peers seemed to be most moved by the appeal which was made to them as landlords. The whole scheme, it was asserted, was intended to enrich usurers at the expense of the nobility and gentry. Persons who had laid by money would rather put it into the Bank than lend it on mortgage at moderate interest. Caermarthen said little or nothing in defence of what was, in truth, the work of his rivals and enemies. He owned that there were grave objections to the mode in which the Commons had provided for the public service of the year. But would their Lordships amend a money bill? Would they engage in a contest of which the end must be that they must either yield, or incur the grave responsibility of leaving the Channel without a fleet during the summer? This argument prevailed; and, on a division, the amendment was rejected by forty-three votes to thirty-one. A few hours later the bill received the royal assent, and the Parliament was prorogued. 523 (#x24_x_24_i411) In the City the success of Montague's plan was complete. It was then at least as difficult to raise a million at eight per cent. as it would now be to raise thirty millions at four per cent. It had been supposed that contributions would drop in very slowly; and a considerable time had therefore been allowed by the Act. This indulgence was not needed. So popular was the new investment that on the day on which the books were opened three hundred thousand pounds were subscribed; three hundred thousand more were subscribed during the next forty-eight hours; and, in ten days, to the delight of all the friends of the government, it was announced that the list was full. The whole sum which the Corporation was bound to lend to the State was paid into the Exchequer before the first instalment was due. 524 (#x24_x_24_i414) Somers gladly put the Great Seal to a charter framed in conformity with the terms prescribed by Parliament; and the Bank of England commenced its operations in the house of the Company of Grocers. There, during many years, directors, secretaries and clerks might be seen labouring in different parts of one spacious hall. The persons employed by the bank were originally only fifty-four. They are now nine hundred. The sum paid yearly in salaries amounted at first to only four thousand three hundred and fifty pounds. It now exceeds two hundred and ten thousand pounds. We may therefore fairly infer that the incomes of commercial clerks are, on an average, about three times as large in the reign of Victoria as they were in the reign of William the Third. 525 (#x24_x_24_i417)

It soon appeared that Montague had, by skilfully availing himself of the financial difficulties of the country, rendered an inestimable service to his party. During several generations the Bank of England was emphatically a Whig body. It was Whig, not accidentally, but necessarily. It must have instantly stopped payment if it had ceased to receive the interest on the sum which it had advanced to the government; and of that interest James would not have paid one farthing. Seventeen years after the passing of the Tonnage Bill, Addison, in one of his most ingenious and graceful little allegories, described the situation of the great Company through which the immense wealth of London was constantly circulating. He saw Public Credit on her throne in Grocers' Hall, the Great Charter over her head, the Act of Settlement full in her view. Her touch turned every thing to gold. Behind her seat, bags filled with coin were piled up to the ceiling. On her right and on her left the floor was hidden by pyramids of guineas. On a sudden the door flies open. The Pretender rushes in, a sponge in one hand, in the other a sword which he shakes at the Act of Settlement. The beautiful Queen sinks down fainting. The spell by which she has turned all things around her into treasure is broken. The money bags shrink like pricked bladders. The piles of gold pieces are turned into bundles of rags or faggots of wooden tallies. 526 (#x24_x_24_i420) The truth which this parable was meant to convey was constantly present to the minds of the rulers of the Bank. So closely was their interest bound up with the interest of the government that the greater the public danger the more ready were they to come to the rescue. In old times, when the Treasury was empty, when the taxes came in slowly, and when the pay of the soldiers and sailors was in arrear, it had been necessary for the Chancellor of the Exchequer to go, hat in hand, up and down Cheapside and Cornhill, attended by the Lord Mayor and by the Aldermen, and to make up a sum by borrowing a hundred pounds from this hosier, and two hundred pounds from that ironmonger. 527 (#x24_x_24_i423) Those times were over. The government, instead of laboriously scooping up supplies from numerous petty sources, could now draw whatever it required from an immense reservoir, which all those petty sources kept constantly replenished. It is hardly too much to say that, during many years, the weight of the Bank, which was constantly in the scale of the Whigs, almost counterbalanced the weight of the Church, which was as constantly in the scale of the Tories.

A few minutes after the bill which established the Bank of England had received the royal assent, the Parliament was prorogued by the King with a speech in which he warmly thanked the Commons for their liberality. Montague was immediately rewarded for his services with the place of Chancellor of the Exchequer. 528 (#x24_x_24_i426)

Shrewsbury had a few weeks before consented to accept the seals. He had held out resolutely from November to March. While he was trying to find excuses which might satisfy his political friends, Sir James Montgomery visited him. Montgomery was now the most miserable of human beings. Having borne a great part in a great Revolution, having been charged with the august office of presenting the Crown of Scotland to the Sovereigns whom the Estates had chosen, having domineered without a rival, during several months, in the Parliament at Edinburgh, having seen before him in near prospect the seals of Secretary, the coronet of an Earl, ample wealth, supreme power, he had on a sudden sunk into obscurity and abject penury. His fine parts still remained; and he was therefore used by the Jacobites; but, though used, he was despised, distrusted and starved. He passed his life in wandering from England to France and from France back to England, without finding a resting place in either country. Sometimes he waited in the antechamber at Saint Germains, where the priests scowled at him as a Calvinist, and where even the Protestant Jacobites cautioned one another in whispers against the old Republican. Sometimes he lay hid in the garrets of London, imagining that every footstep which he heard on the stairs was that of a bailiff with a writ, or that of a King's messenger with a warrant. He now obtained access to Shrewsbury, and ventured to talk as a Jacobite to a brother Jacobite. Shrewsbury, who was not at all inclined to put his estate and his neck in the power of a man whom he knew to be both rash and perfidious, returned very guarded answers. Through some channel which is not known to us, William obtained full intelligence of what had passed on this occasion. He sent for Shrewsbury, and again spoke earnestly about the secretaryship. Shrewsbury again excused himself. His health, he said, was bad. "That," said William, "is not your only reason." "No, Sir," said Shrewsbury, "it is not." And he began to speak of public grievances, and alluded to the fate of the Triennial Bill, which he had himself introduced. But William cut him short. "There is another reason behind. When did you see Montgomery last?" Shrewsbury was thunderstruck. The King proceeded to repeat some things which Montgomery had said. By this time Shrewsbury had recovered from his dismay, and had recollected that, in the conversation which had been so accurately reported to the government, he had fortunately uttered no treason, though he had heard much. "Sir," said he, "since Your Majesty has been so correctly informed, you must be aware that I gave no encouragement to that man's attempts to seduce me from my allegiance." William did not deny this, but intimated that such secret dealings with noted Jacobites raised suspicions which Shrewsbury could remove only by accepting the seals. "That," he said, "will put me quite at ease. I know that you are a man of honour, and that, if you undertake to serve me, you will serve me faithfully." So pressed, Shrewsbury complied, to the great joy of his whole party; and was immediately rewarded for his compliance with a dukedom and a garter. 529 (#x24_x_24_i429)

Thus a Whig ministry was gradually forming. There were now two Whig Secretaries of State, a Whig Keeper of the Great Seal, a Whig First Lord of the Admiralty, a Whig Chancellor of the Exchequer. The Lord Privy Seal, Pembroke, might also be called a Whig; for his mind was one which readily took the impress of any stronger mind with which it was brought into contact. Seymour, having been long enough a Commissioner of the Treasury to lose much of his influence with the Tory country gentlemen who had once listened to him as to an oracle, was dismissed, and his place was filled by John Smith, a zealous and able Whig, who had taken an active part in the debates of the late session. 530 (#x24_x_24_i432) The only Tories who still held great offices in the executive government were the Lord President, Caermarthen, who, though he began to feel that power was slipping from his grasp, still clutched it desperately, and the first Lord of the Treasury, Godolphin, who meddled little out of his own department, and performed the duties of that department with skill and assiduity.

William, however, still tried to divide his favours between the two parties. Though the Whigs were fast drawing to themselves the substance of power, the Tories obtained their share of honorary distinctions. Mulgrave, who had, during the late session, exerted his great parliamentary talents in favour of the King's policy, was created Marquess of Normanby, and named a Cabinet Councillor, but was never consulted. He obtained at the same time a pension of three thousand pounds a year. Caermarthen, whom the late changes had deeply mortified, was in some degree consoled by a signal mark of royal approbation. He became Duke of Leeds. It had taken him little more than twenty years to climb from the station of a Yorkshire country gentleman to the highest rank in the peerage. Two great Whig Earls were at the same time created Dukes, Bedford and Devonshire. It ought to be mentioned that Bedford had repeatedly refused the dignity which he now somewhat reluctantly accepted. He declared that he preferred his Earldom to a Dukedom, and gave a very sensible reason for the preference. An Earl who had a numerous family might send one son to the Temple and another to a counting house in the city. But the sons of a Duke were all lords; and a lord could not make his bread either at the bar or on Change. The old man's objections, however, were overcome; and the two great houses of Russell and Cavendish, which had long been closely connected by friendship and by marriage, by common opinions, common sufferings and common triumphs, received on the same day the greatest honour which it is in the power of the Crown to confer. 531 (#x24_x_24_i435)

The Gazette which announced these creations announced also that the King had set out for the Continent. He had, before his departure, consulted with his ministers about the means of counteracting a plan of naval operations which had been formed by the French government. Hitherto the maritime war had been carried on chiefly in the Channel and the Atlantic. But Lewis had now determined to concentrate his maritime forces in the Mediterranean. He hoped that, with their help, the army of Marshal Noailles would be able to take Barcelona, to subdue the whole of Catalonia, and to compel Spain to sue for peace. Accordingly, Tourville's squadron, consisting of fifty three men of war, set sail from Brest on the twenty-fifth of April and passed the Straits of Gibraltar on the fourth of May.

William, in order to cross the designs of the enemy, determined to send Russell to the Mediterranean with the greater part of the combined fleet of England and Holland. A squadron was to remain in the British seas under the command of the Earl of Berkeley. Talmash was to embark on board of this squadron with a large body of troops, and was to attack Brest, which would, it was supposed, in the absence of Tourville and his fifty-three vessels, be an easy conquest.

That preparations were making at Portsmouth for an expedition, in which the land forces were to bear a part, could not be kept a secret. There was much speculation at the Rose and at Garraway's touching the destination of the armament. Some talked of Rhe, some of Oleron, some of Rochelle, some of Rochefort. Many, till the fleet actually began to move westward, believed that it was bound for Dunkirk. Many guessed that Brest would be the point of attack; but they only guessed this; for the secret was much better kept than most of the secrets of that age. 532 (#x24_x_24_i438) Russell, till he was ready to weigh anchor, persisted in assuring his Jacobite friends that he knew nothing. His discretion was proof even against all the arts of Marlborough. Marlborough, however, had other sources of intelligence. To those sources he applied himself; and he at length succeeded in discovering the whole plan of the government. He instantly wrote to James. He had, he said, but that moment ascertained that twelve regiments of infantry and two regiments of marines were about to embark, under the command of Talmash, for the purpose of destroying the harbour of Brest and the shipping which lay there. "This," he added, "would be a great advantage to England. But no consideration can, or ever shall, hinder me from letting you know what I think may be for your service." He then proceeded to caution James against Russell. "I endeavoured to learn this some time ago from him; but he always denied it to me, though I am very sure that he knew the design for more than six weeks. This gives me a bad sign of this man's intentions."

The intelligence sent by Marlborough to James was communicated by James to the French government. That government took its measures with characteristic promptitude. Promptitude was indeed necessary; for, when Marlborough's letter was written, the preparations at Portsmouth were all but complete; and, if the wind had been favourable to the English, the objects of the expedition might have been attained without a struggle. But adverse gales detained our fleet in the Channel during another month. Meanwhile a large body of troops was collected at Brest. Vauban was charged with the duty of putting the defences in order; and, under his skilful direction, batteries were planted which commanded every spot where it seemed likely that an invader would attempt to land. Eight large rafts, each carrying many mortars, were moored in the harbour, and, some days before the English arrived, all was ready for their reception.

On the sixth of June the whole allied fleet was on the Atlantic about fifteen leagues west of Cape Finisterre. There Russell and Berkeley parted company. Russell proceeded towards the Mediterranean. Berkeley's squadron, with the troops on board, steered for the coast of Brittany, and anchored just without Camaret Bay, close to the mouth of the harbour of Brest. Talmash proposed to land in Camaret Bay. It was therefore desirable to ascertain with accuracy the state of the coast. The eldest son of the Duke of Leeds, now called Marquess of Caermarthen, undertook to enter the basin and to obtain the necessary information. The passion of this brave and eccentric young man for maritime adventure was unconquerable. He had solicited and obtained the rank of Rear Admiral, and had accompanied the expedition in his own yacht, the Peregrine, renowned as the masterpiece of shipbuilding, and more than once already mentioned in this history. Cutts, who had distinguished himself by his intrepidity in the Irish war, and had been rewarded with an Irish peerage, offered to accompany Caermarthen, Lord Mohun, who, desirous, it may be hoped, to efface by honourable exploits the stain which a shameful and disastrous brawl had left on his name, was serving with the troops as a volunteer, insisted on being of the party. The Peregrine went into the bay with its gallant crew, and came out safe, but not without having run great risks. Caermarthen reported that the defences, of which however he had seen only a small part, were formidable. But Berkeley and Talmash suspected that he overrated the danger. They were not aware that their design had long been known at Versailles, that an army had been collected to oppose them, and that the greatest engineer in the world had been employed to fortify the coast against them. They therefore did not doubt that their troops might easily be put on shore under the protection of a fire from the ships. On the following morning Caermarthen was ordered to enter the bay with eight vessels and to batter the French works. Talmash was to follow with about a hundred boats full of soldiers. It soon appeared that the enterprise was even more perilous than it had on the preceding day appeared to be. Batteries which had then escaped notice opened on the ships a fire so murderous that several decks were soon cleared. Great bodies of foot and horse were discernible; and, by their uniforms, they appeared to be regular troops. The young Rear Admiral sent an officer in all haste to warn Talmash. But Talmash was so completely possessed by the notion that the French were not prepared to repel an attack that he disregarded all cautions and would not even trust his own eyes. He felt sure that the force which he saw assembled on the shore was a mere rabble of peasants, who had been brought together in haste from the surrounding country. Confident that these mock soldiers would run like sheep before real soldiers, he ordered his men to pull for the beach. He was soon undeceived. A terrible fire mowed down his troops faster than they could get on shore. He had himself scarcely sprung on dry ground when he received a wound in the thigh from a cannon ball, and was carried back to his skiff. His men reembarked in confusion. Ships and boats made haste to get out of the bay, but did not succeed till four hundred seamen and seven hundred soldiers had fallen. During many days the waves continued to throw up pierced and shattered corpses on the beach of Brittany. The battery from which Talmash received his wound is called, to this day, the Englishman's Death.

The unhappy general was laid on his couch; and a council of war was held in his cabin. He was for going straight into the harbour of Brest and bombarding the town. But this suggestion, which indicated but too clearly that his judgment had been affected by the irritation of a wounded body and a wounded mind, was wisely rejected by the naval officers. The armament returned to Portsmouth. There Talmash died, exclaiming with his last breath that he had been lured into a snare by treachery. The public grief and indignation were loudly expressed. The nation remembered the services of the unfortunate general, forgave his rashness, pitied his sufferings, and execrated the unknown traitors whose machinations had been fatal to him. There were many conjectures and many rumours. Some sturdy Englishmen, misled by national prejudice, swore that none of our plans would ever be kept a secret from the enemy while French refugees were in high military command. Some zealous Whigs, misled by party sprit, muttered that the Court of Saint Germains would never want good intelligence while a single Tory remained in the Cabinet Council. The real criminal was not named; nor, till the archives of the House of Stuart were explored, was it known to the world that Talmash had perished by the basest of all the hundred villanies of Marlborough. 533 (#x24_x_24_i441)

Yet never had Marlborough been less a Jacobite than at the moment when he rendered this wicked and shameful service to the Jacobite cause. It may be confidently affirmed that to serve the banished family was not his object, and that to ingratiate himself with the banished family was only his secondary object. His primary object was to force himself into the service of the existing government, and to regain possession of those important and lucrative places from which he had been dismissed more than two years before. He knew that the country and the Parliament would not patiently bear to see the English army commanded by foreign generals. Two Englishmen only had shown themselves fit for high military posts, himself and Talmash. If Talmash were defeated and disgraced, William would scarcely have a choice. In fact, as soon as it was known that the expedition had failed, and that Talmash was no more, the general cry was that the King ought to receive into his favour the accomplished Captain who had done such good service at Walcourt, at Cork and at Kinsale. Nor can we blame the multitude for raising this cry. For every body knew that Marlborough was an eminently brave, skilful and successful officer; but very few persons knew that he had, while commanding William's troops, while sitting in William's council, while waiting in William's bedchamber, formed a most artful and dangerous plot for the subversion of William's throne; and still fewer suspected the real author of the recent calamity, of the slaughter in the Bay of Camaret, of the melancholy fate of Talmash. The effect therefore of the foulest of all treasons was to raise the traitor in public estimation. Nor was he wanting to himself at this conjuncture. While the Royal Exchange was in consternation at this disaster of which he was the cause, while many families were clothing themselves in mourning for the brave men of whom he was the murderer, he repaired to Whitehall; and there, doubtless with all that grace, that nobleness, that suavity, under which lay, hidden from all common observers, a seared conscience and a remorseless heart, he professed himself the most devoted, the most loyal, of all the subjects of William and Mary, and expressed a hope that he might, in this emergency, be permitted to offer his sword to their Majesties. Shrewsbury was very desirous that the offer should be accepted; but a short and dry answer from William, who was then in the Netherlands, put an end for the present to all negotiation. About Talmash the King expressed himself with generous tenderness. "The poor fellow's fate," he wrote, "has affected me much. I do not indeed think that he managed well; but it was his ardent desire to distinguish himself that impelled him to attempt impossibilities." 534 (#x24_x_24_i444)

The armament which had returned to Portsmouth soon sailed again for the coast of France, but achieved only exploits worse than inglorious. An attempt was made to blow up the pier at Dunkirk. Some towns inhabited by quiet tradesmen and fishermen were bombarded. In Dieppe scarcely a house was left standing; a third part of Havre was laid in ashes; and shells were thrown into Calais which destroyed thirty private dwellings. The French and the Jacobites loudly exclaimed against the cowardice and barbarity of making war on an unwarlike population. The English government vindicated itself by reminding the world of the sufferings of the thrice wasted Palatinate; and, as against Lewis and the flatterers of Lewis, the vindication was complete. But whether it were consistent with humanity and with sound policy to visit the crimes which an absolute Prince and a ferocious soldiery had committed in the Palatinate on shopkeepers and labourers, on women and children, who did not know that the Palatinate existed, may perhaps be doubted.

Meanwhile Russell's fleet was rendering good service to the common cause. Adverse winds had impeded his progress through the Straits so long that he did not reach Carthagena till the middle of July. By that time the progress of the French arms had spread terror even to the Escurial. Noailles had, on the banks of the Tar, routed an army commanded by the Viceroy of Catalonia; and, on the day on which this victory was won, the Brest squadron had joined the Toulon squadron in the Bay of Rosas. Palamos, attacked at once by land and sea, was taken by storm. Gerona capitulated after a faint show of resistance. Ostalric surrendered at the first summons. Barcelona would in all probability have fallen, had not the French Admirals learned that the conquerors of La Hogue was approaching. They instantly quitted the coast of Catalonia, and never thought themselves safe till they had taken shelter under the batteries of Toulon.

The Spanish government expressed warm gratitude for this seasonable assistance, and presented to the English Admiral a jewel which was popularly said to be worth near twenty thousand pounds sterling. There was no difficulty in finding such a jewel among the hoards of gorgeous trinkets which had been left by Charles the Fifth and Philip the Second to a degenerate race. But, in all that constitutes the true wealth of states, Spain was poor indeed. Her treasury was empty; her arsenals were unfurnished; her ships were so rotten that they seemed likely to fly asunder at the discharge of their own guns. Her ragged and starving soldiers often mingled with the crowd of beggars at the doors of convents, and battled there for a mess of pottage and a crust of bread. Russell underwent those trials which no English commander whose hard fate it has been to cooperate with Spaniards has escaped. The Viceroy of Catalonia promised much, did nothing, and expected every thing. He declared that three hundred and fifty thousand rations were ready to be served out to the fleet at Carthagena. It turned out that there were not in all the stores of that port provisions sufficient to victual a single frigate for a single week. Yet His Excellency thought himself entitled to complain because England had not sent an army as well as a fleet, and because the heretic Admiral did not choose to expose the fleet to utter destruction by attacking the French under the guns of Toulon. Russell implored the Spanish authorities to look well to their dockyards, and to try to have, by the next spring, a small squadron which might at least be able to float; but he could not prevail on them to careen a single ship. He could with difficulty obtain, on hard conditions, permission to send a few of his sick men to marine hospitals on shore. Yet, in spite of all the trouble given him by the imbecility and ingratitude of a government which has generally caused more annoyance to its allies than to its enemies, he acquitted himself well. It is but just to him to say that, from the time at which he became First Lord of the Admiralty, there was a decided improvement in the naval administration. Though he lay with his fleet many months near an inhospitable shore, and at a great distance from England, there were no complaints about the quality or the quantity of provisions. The crews had better food and drink than they had ever had before; comforts which Spain did not afford were supplied from home; and yet the charge was not greater than when, in Torrington's time, the sailor was poisoned with mouldy biscuit and nauseous beer.

As almost the whole maritime force of France was in the Mediterranean, and as it seemed likely that an attempt would be made on Barcelona in the following year, Russell received orders to winter at Cadiz. In October he sailed to that port; and there he employed himself in refitting his ships with an activity unintelligible to the Spanish functionaries, who calmly suffered the miserable remains of what had once been the greatest navy in the world to rot under their eyes. 535 (#x24_x_24_i447)