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ONE: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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THREE:[See larger version]We may satisfy ourselves as to William's appreciation of poetry by the fact that Shadwell was his first poet-laureate and Nahum Tate the next. Dr. Nicholas Brady and Nahum Tate made the version of the Psalms which long disgraced the Church Service. Sir William Temple, Baxter, Sir George Mackenzie, Stillingfleet, and Evelyn, as well as some others flourishing at the end of the last period, still remained.

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THREE:Had this Bill been frankly accepted by Ministers, it would have gone far to heal the rupture between the mother country and her colonies. The Earl of Dartmouth, the Secretary of State for the Colonies, proposed that the Bill should lie on the table for deliberation. The Duke of Grafton complained of the manner in which the Bill had been hurried into the House, and, as Chatham in his reply observed, showed every disposition to hurry it as quickly out again. The friends of the Duke of Bedford, who had joined the administration, exhibited the most rancorous disposition towards America. The chief of these, Lord Sandwich, declared that he never could believe this Bill was the work of any British peer, but rather of an American, and he looked full at Dr. Franklin, who was leaning on the bar. He declared the Americans to be in actual rebellion; that they were not troubling themselves about mere words and nice distinctions; that they were aiming at independence, and nothing else. The Bedford party carried the day, and the Bill was rejected by sixty-one votes against thirty-two.On the other hand, the Corresponding Society and the Society for Constitutional Information kept up an open correspondence with the National Convention of France, even after the bloody massacres of September of this year, which we have yet to mention. Unwarned by these facts, they professed to see, in the example of Frenchmen, the only chance of the liberation of the English nation from the oppressions of the Crown and of an overgrown aristocracy. They made no secret of their desire to establish a Republic in Great Britain; and the Society for Constitutional Information included amongst its members a number of red-hot Americans. These Societies and the Revolutionary Society in London continued to send over glowing addresses to the French Convention, declaring their desire to fraternise with them for liberty and equality, and their determination never again to fight with Frenchmen at the command of despots.

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FORE:Ill news flowed in apace from all quarters during the recess. The Marquis de Bouill�� had surprised and retaken St. Eustatia. The new conquests in Demerara and Essequibo had also been retaken. Bouill�� having secured St. Eustatia, next turned his arms against the old and valuable island of St. Kitt's. He then landed eight thousand men at Basseterre, the capital, whose movements were protected by the fleet under De Grasse. General Fraser and Governor Shirley took post on the rugged heights of Brimstone Hill, and made a stout defence, whilst Sir Samuel Hood, who had followed De Grasse from the Chesapeake, boldly interposed between the French admiral and the French troops on shore. Hood twice beat off De Grasse; but the British fleet and army were much too inconsiderable to maintain the conquest. The island was finally taken, and after it the smaller ones of Nevis and Montserrat, so that of all the Leeward Islands we had only Barbadoes and Antigua left.

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TWO:On the 6th of October Sir John Moore received instructions from Lord Castlereagh that his army was to advance into Spain, and co-operate with the Spanish armies for the expulsion of the French. He was informed that his twenty-five thousand men would receive a reinforcement of ten thousand men under Sir David Baird, who was on his voyage to Corunna. When Sir John prepared to march, the most serious difficulties presented themselves. Even at Lisbon it was found impossible to procure conveyance for the necessary baggage, and therefore the supplies of provisions and stores were cut down extremely��a great mistake. There was one species of baggage��women and children��who, according to the wretched practice of the time, were allowed to accompany the troops, and would not be left behind, though the army was going into immediate active service against the enemy. Sir John directed the commanding officers to order that as many as possible of these should stay behind, especially such women as had very young children, or infants at the breast, as there would not be found sufficient carts for them; and in the mountainous tracks at that season, and the horrible roads, they must suffer the most exhausting fatigues and hardships. But Sir John had not the commanding firmness of Wellesley, and his orders in this respect were, for the most part, neglected. Very proper orders were also issued by Sir John regarding the behaviour of the soldiers towards the natives. They were informed that the Spaniards were a grave and very proud people, readily offended by any disrespect towards their religion or customs; and the soldiers were desired to behave courteously, and to wear the cockade of King Ferdinand VII. as well as their own.

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