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ONE:

DANIEL PRATT

TWO:The year 1797 was opened by the suspension of cash payments. The Bank of England had repeatedly represented to Pitt, as Chancellor of the Exchequer, that his enormous demands upon it for specie, as well as paper money, had nearly exhausted its coffers and could not long be continued. The payment of our armies abroad, and the advances to foreign kings, were necessarily made[455] in cash. The Government, in spite of enormous taxation, had already overdrawn its account eleven million six hundred and sixty-eight thousand eight hundred pounds, and the sole balance in the hands of the Bank was reduced to three million eight hundred and twenty-six thousand eight hundred and ninety pounds. Pitt was demanding a fresh loan for Ireland, when a message came from the Bank to say that, in existing circumstances, it could not be complied with. Thus suddenly pulled up, the Privy Council was summoned, and it was concluded to issue an order for stopping all further issue of cash, except to the Government, and except one hundred thousand pounds for the accommodation of private bankers and traders. Paper money was made a legal tender to all other parties, and the Bank was empowered to issue small notes for the accommodation of the public instead of guineas. A Bill was passed for the purpose, and that it might not be considered more than a temporary measure, it was made operative only till June; but it was renewed from time to time by fresh Acts of Parliament. The system was not abolished again till 1819, when Sir Robert Peel brought in his Bill for the resumption of cash payments, and during the whole of that time the depreciation of paper money was comparatively slight.

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ONE:[See larger version]The noble marquis was regarded by Mr. Peel with the most sincere respect and esteem, which were cordially reciprocated. In a letter dated January 30th, 1828, Lord Wellesley wrote to him thus:��"Your most acceptable letter of the 29th instant enables me to offer to you now those assurances of gratitude, respect, and esteem which, to my sincere concern, have been so long delayed. Although these sentiments have not before reached you in the manner which would have been most suitable to the subject, I trust that you have not been unacquainted with the real impressions which your kindness and high character have fixed in my mind, and which it is always a matter of the most genuine satisfaction to me to declare. I am very anxious to communicate with you in the same unreserved confidence so long subsisting between us on the state of Ireland."

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ONE:In 1765 Clive embarked for India for the third and last time. He went out with the firm determination to curb and crush the monster abuses that everywhere prevailed in our Indian territories. He had made a fortune of forty thousand pounds a year, and he was, therefore, prepared to quash the system by which thousands of others were endeavouring to do the same. No man was sharper than Clive in perceiving, where his own interest was not concerned, the evils which were consuming the very vitals of our power, and making our name odious in Hindostan. The first and most glaring abuse of power which arrested his attention was as regarded his old puppet, Meer Jaffier. He had lately died, and his own court had proposed to set up his legitimate grandson; but the Council preferred his natural son, Nujeem-ul-Dowlah, a poor spiritless youth, who agreed that the English should take the military defence of the country, and also appoint a Prime Minister to manage the revenue and other matters of government. The Council agreed to this, and received a present from the nabob of their creation of one hundred and forty thousand pounds, which they divided amongst themselves. This was directly in opposition to the recent order of the Court of Directors, not to accept any presents from the native princes; but, as Clive states, he found them totally disregarding everything but their own avarice.While these events were occurring in London, renewed signs of that terrible Irish difficulty which, in the end, played so prominent a part in hastening the conversion of the party who had opposed Free Trade, began to be forced upon the attention of public men. On the 6th of June the Limerick Reporter stated that at Listowel the state of the poor was awful and deplorable, potatoes being sixteen pence a stone, and there being no employment. One morning a boat, containing 560 barrels of oats, while waiting for the steamer at Garry Kennedy harbour, on its way to Limerick, was boarded by a large body of the populace, who possessed themselves of part of the grain. The police were sent for, but did not arrive in time to save the property. The Dublin Pilot reported that the people of Limerick, prompted by the cravings of hunger, had broken out in violent attacks on the flour stores and provision shops throughout the city, sparing none in their devastation. Flour was openly seized and distributed by the ringleaders among the populace. The crowd was at length dispersed by the military, and the mayor called a meeting of the inhabitants, to provide some means of meeting the distress. In the meanwhile, ten tons of oatmeal had been distributed among the most wretched, which was stated for the present to have satisfied their cravings. These things, it was remarked, took place while corn and flour, to the amount of four or five millions sterling, might, in a few weeks, be had in exchange for our manufactured goods.

THREE:

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THREE:In England there had been a coalition of what was called the Portland section of the Whigs, with Pitt's Ministry. These Whigs had not only separated from Fox and his friends, but they had, from the first outbreak of the French Revolution, followed the lead of Burke and supported all Pitt's measures. The Duke of Portland, therefore, was, in July, made Third Secretary of State; Lord Fitzwilliam, President of the Council, and, in December, Lord-Lieutenant of Ireland; Earl Spencer was made, at the same time, Lord Privy Seal, and, in December, First Lord of the Admiralty; Pitt's elder brother, Lord Chatham, being removed for him, and made Privy Seal; and Windham became Secretary of War in place of Sir George Yonge.

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THREE:[See larger version]

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ONE:On the 28th of September the combined army of French and Americans came in sight of York Town, and encamped about two miles from the outworks. The next morning they extended themselves towards the left of Cornwallis, but cautiously; and the English pickets slowly retired within the outer lines at their approach. That evening Cornwallis received a despatch from Sir Henry Clinton, dated September 24th, which gave the cheering expectation that he was duly sensible of the imminence of the danger, and of his responsibility. He said:��"At a meeting of the general and flag officers held this day, it is determined that above five thousand men, rank and file, shall be embarked on board the king's ships, and the joint exertions of the navy and army made in a few days to relieve you, and afterwards to co-operate with you. The fleet consists of twenty-three sail of the line, three of which are three-deckers. There is every reason to hope that we start on the 5th of October." On this promising intimation of speedy aid, Cornwallis immediately drew in his small force from the extended outworks, and concentrated them within the entrenchments round the town. Undoubtedly it was a measure calculated to save much life, which must have been lost in defending outworks too widely extended for the enclosed force; but it encouraged the Americans, who did not expect to gain them thus easily. Two thousand men took up their ground before Gloucester. Round York Town itself Washington, Rochambeau, Lafayette, and St. Simon concentrated their forces. On the night of the 1st of October, the French on the right and the Americans on the left drew nearer, and commenced breaking ground. Six days were then spent in bringing from the ships fifty pieces of cannon, some of them very heavy, ammunition, and other military stores; in fact, as much preparation was made for carrying this single post as if it had been a regular and first-rate fortress. On the night of the 6th of October the French and Americans began casting up their first parallel within six hundred yards of Cornwallis's lines. By the 9th of October their trenches and batteries were completed, and that afternoon they opened a tremendous fire on the town. Cornwallis replied to them with vigour,[283] but he found many of his guns on the left silenced, and his works greatly damaged. On the night of the 11th the enemy began their second parallel within three hundred yards of the lines. In its progress, for three days, Cornwallis committed much havoc amongst them by opening fresh embrasures for guns, and pouring an incessant shower upon them of balls and shells. Two redoubts on the left flank of the British more particularly annoyed them, and Washington determined to carry these by storm. Of course they were carried, and their guns then turned on York Town.As the French now made vigorous preparations for war, George II. began to tremble for Hanover, and put out all his energies to accomplish fresh alliances��of course, at the cost of fresh subsidies to be paid by England. Hesse-Cassel, the Empress of Russia, and even his old enemy, Frederick of Prussia, were applied to, and engaged, by promises of English money, in defence of Hanover. George was especially afraid of Frederick, who was bound by no ties where his interest was at stake, and who, if not retained at a high rate, might fall on Hanover as he had done on Silesia. In gaining Frederick, however, George lost his old ally, Austria, which, forgetting all past obligations, immediately made alliance with France. THREE:[336]

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