THREE:The king attended the theatre one evening, and by his desire the drama of Rob Roy was performed. The theatre was of course crowded to excess, the boxes presenting a dazzling galaxy of rank and beauty. When the approach of the king was announced, there was a pause of deathlike stillness; then an outburst of deep, honest enthusiasm never to be forgotten. "A prolonged and heartfelt shout, which for more than a minute rent the house," a waving of handkerchiefs, tartan scarfs, and plumed bonnets, testified the joy of the assembly and delighted the ears and eyes of the "chief of chiefs." Sir Walter Scott in a letter to his son gives a vivid description of this royal visit. For a fortnight Edinburgh had been a scene of giddy tumult, and considering all that he had to do, he wondered that he had not caught fever in the midst of it. All, however, went off most happily. The Edinburgh populace behaved themselves like so many princes, all in their Sunday clothes; nothing like a mob��no jostling or crowding. "They shouted with great emphasis, but without any running or roaring, each standing as still in his place as if the honour of Scotland had depended on the propriety of his behaviour. This made the scene quite new to all who had witnessed the Irish reception." The king's stay in Scotland was protracted till the 29th of August. On the day before his departure, Mr. Peel, who accompanied him as Home Secretary, wrote the following letter to Sir Walter Scott:��"My dear sir,��The king has commanded me to acquaint you that he cannot bid adieu to Scotland without conveying to you individually his warm personal acknowledgments for the deep interest you have taken in every ceremony and arrangement connected with his Majesty's visit, and for your ample contributions to their complete success. His Majesty well knows how many difficulties have been smoothed, and how much has been effected by your unremitting activity, by your knowledge of your countrymen, and by the just estimation in which they hold you. The king wishes to make you the channel of conveying to the Highland chiefs and their followers, who have given to the varied scenes which we have witnessed so peculiar and romantic a character, his particular thanks for their attendance, and his warm approbation of their uniform deportment. He does justice to the ardent spirit of loyalty by which they are animated, and is convinced that he could offer no recompense for their services so gratifying to them as the assurance which I now convey of the esteem and approbation of their Sovereign."
FORE:
FORE:These reverses were calculated to make France more compliant; yet Pitt was astonished to find,[171] instead of compliance, a great spirit of resistance. Choiseul would by no means admit that Belleisle was an equivalent for Minorca. He demanded Guadeloupe and Belleisle too, simply in lieu of the French conquests in Germany. He now demurred to the surrender of Cape Breton, or in any case to forego the right of fishing along its coasts. He was not content with Amaboo or Acra; he demanded Senegal or Goree. He declined also to destroy the fortifications of Dunkirk, raised in contempt of the treaty of Utrecht. All captures made at sea previous to the declaration of war must be restored; and in Germany, though he was willing to withdraw the French troops, it was only on condition that the troops commanded by Prince Ferdinand should not reinforce the Prussian army.But though we punished the Dutch for their French predilections, the tide of French success was rolling on in various quarters, and presenting a prospect of a single-handed conflict with France. The powers on whose behalf we had armed were fast, one after another, making terms with the Republicans. Holland was in their hands, and the King of Prussia, on the 5th of April, concluded a peace with them at Basle, in which he agreed to surrender to France all his possessions on the left bank of the Rhine, on condition of retaining those on the right. There was a mutual exchange of prisoners, including the troops of such other German States as had served with Prussia. Spain hastened to follow the example of Prussia. A peace was concluded at the same place��Basle��on the 22nd of July, by which she gave up all the Spanish part of San Domingo. To purchase the French evacuation, the Ministers of Spain itself recognised the Batavian Republic��which was become, in reality, a province of France��and promised to intercede with Portugal, Naples, Parma, and Sardinia. The Grand Duke of Tuscany followed with a proclamation of a treaty of neutrality with France, on the 1st of March. Sweden and the Protestant Cantons recognised the French Republic and the Batavian one, its ally; and the Duke of Hesse-Cassel, and even George III., as Elector of Hanover, were compelled to an agreement to furnish no more troops to the Emperor of Germany. Whilst the Allies were thus falling away in rapid succession before the forces of[444] Republican France, Britain, instead of taking warning, and resolving to mind only her own business, went madly into fresh treaties with Continental Powers. Russia and Austria were received into fresh treaties of mutual defence. Russia we were to assist with ships, and Austria with twenty thousand foot and six thousand horse, or to pay each month ten thousand florins for every thousand infantry, and thirty thousand florins for every thousand of cavalry. To complete the circle of treaties, Sir Gilbert Elliot, British Governor of Corsica, entered into a treaty with the Dey of Algiers, by which, on payment of a hundred and seventy-nine thousand piastres, he was to restore all the Corsicans captured and enslaved by him, and was to enjoy the strange privilege of carrying all his piratical prizes into the ports of Corsica, and to sell them there��which was, in fact, licensing this chief of sea-robbers to plunder all the other Italian States.
FORE:After the Painting by BIRKET FOSTER, R.W.S.Undismayed, Fox renewed the contest on the following day, December 15th, by moving that an humble address should be presented to his Majesty, praying him to send an ambassador to France to treat with the persons constituting the existing executive Government. He said that he did not mean to vindicate what had taken place in that country, although, if we condemned the crimes committed in France, we must also condemn those of Morocco and Algiers, and yet we had accredited agents at the courts of those countries.
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TWO:It is impossible to conceive the extent of suffering and desolation inflicted upon society, almost every family being involved, more or less, in the general calamity. Flourishing firms were bankrupt, opulent merchants impoverished, the masses of working people suddenly thrown out of employment, and reduced to destitution; and all from causes with which the majority had nothing to do��causes that could have been prevented by a proper monetary system. If Bank of England notes had been a legal tender, to all intents and purposes supplying the place of gold as currency; if these notes had been supplied to the country banks in any quantities they required, ample security being taken to have assets equal to their respective issues, then the currency would have had an elastic, self-adjusting power, expanding or contracting according to the requirements of commerce. Inordinate speculation would not have been stimulated by a reckless system of credit, and business would have been conducted in a moderate and judicious manner, instead of rushing on at a high pressure that rendered a crash inevitable. The Government, after anxious and repeated deliberations, supplied a remedy on this principle. They determined to issue one-pound and two-pound notes of the Bank of England, for country circulation, to any amount required. In the meantime the Mint was set to work with all its resources in the coining of sovereigns[244], which, for the course of a week, were thrown off at the rate of 150,000 a day. The notes could not be manufactured fast enough to meet the enormous demand for carrying on the business of the country. In this dilemma the Bank was relieved by a most fortunate discovery��a box containing ��700,000, in one- and two-pound notes that had been retired, but which were at once put into circulation. The people having thus got notes with Government security, the panic subsided, and the demand for gold gradually ceased. The restoration of confidence was aided by resolutions passed at a meeting of bankers and merchants in the City of London, declaring that the unprecedented embarrassments and difficulties under which the circulation of the country laboured were mainly to be ascribed to a general panic, for which there were no reasonable grounds; that they had the fullest confidence in the means and substance of the banking establishments of the capital and the country; that returning confidence would remove all the symptoms of distress caused by the alarms of the timid, so fatal to those who were forced to sacrifice their property to meet unexpected demands. The new measures so promptly adopted and so vigorously carried into effect, raised the circulation of the Bank of England notes in three weeks from ��17,477,290 to ��25,611,800. Thus the regular and healthful action of the monetary system was restored by an adequate circulation of paper money, on Government security, without specie to sustain it. There were at the time of the crash 770 country bankers; 63 stopped payment, 23 of them having subsequently resumed business, and paid twenty shillings in the pound; and even those that were not able to resume, paid an average of seventeen shillings and sixpence in the pound. It was estimated that the total loss to the country by this panic was one hundred million pounds.LOUIS XVI. AND MARIE ANTOINETTE IN THE PRISON OF THE TEMPLE.
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