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

The message was not very respectfully received. Russell had, at that moment, a popularity which he little deserved, but which will not surprise us when we remember that the public knew nothing of his treasons, and knew that he was the only living Englishman who had won a great battle. The abstract of the papers was read by the clerk. Russell then spoke with great applause; and his friends pressed for an immediate decision. Sir Christopher Musgrave very justly observed that it was impossible to pronounce judgment on such a pile of despatches without perusing them; but this objection was overruled. The Whigs regarded the accused member as one of themselves; many of the Tories were dazzled by the splendour of his recent victory; and neither Whigs nor Tories were disposed to show any deference for the authority of the Peers. The House, without reading the papers, passed an unanimous resolution expressing warm approbation of Russell's whole conduct. The temper of the assembly was such that some ardent Whigs thought that they might now venture to propose a vote of censure on Nottingham by name. But the attempt failed. "I am ready," said Lowther,—and he doubtless expressed what many felt,—"I am ready to support any motion that may do honour to the Admiral; but I cannot join in an attack on the Secretary of State. For, to my knowledge, their Majesties have no more zealous, laborious or faithful servant than my Lord Nottingham." Finch exerted all his mellifluous eloquence in defence of his brother, and contrived, without directly opposing himself to the prevailing sentiment, to insinuate that Russell's conduct had not been faultless. The vote of censure on Nottingham was not pressed. The vote which pronounced Russell's conduct to have been deserving of all praise was communicated to the Lords; and the papers which they had sent down were very unceremoniously returned. 352 (#x23_x_23_i192) The Lords, much offended, demanded a free conference. It was granted; and the managers of the two Houses met in the Painted Chamber. Rochester, in the name of his brethren, expressed a wish to be informed of the grounds on which the Admiral had been declared faultless. To this appeal the gentlemen who stood on the other side of the table answered only that they had not been authorised to give any explanation, but that they would report to those who had sent them what had been said. 353 (#x23_x_23_i195)

By this time the Commons were thoroughly tired of the inquiry into the conduct of the war. The members had got rid of much of the ill humour which they had brought up with them from their country seats by the simple process of talking it away. Burnet hints that those arts of which Caermarthen and Trevor were the great masters were employed for the purpose of averting votes which would have seriously embarrassed the government. But, though it is not improbable that a few noisy pretenders to patriotism may have been quieted with bags of guineas, it would be absurd to suppose that the House generally was influenced in this manner. Whoever has seen anything of such assemblies knows that the spirit with which they enter on long inquiries very soon flags, and that their resentment, if not kept alive by injudicious opposition, cools fast. In a short time every body was sick of the Grand Committee of Advice. The debates had been tedious and desultory. The resolutions which had been carried were for the most part merely childish. The King was to be humbly advised to employ men of ability and integrity. He was to be humbly advised to employ men who would stand by him against James. The patience of the House was wearied out by long discussions ending in the pompous promulgation of truisms like these. At last the explosion came. One of the grumblers called the attention of the Grand Committee to the alarming fact that two Dutchmen were employed in the Ordnance department, and moved that the King should be humbly advised to dismiss them. The motion was received with disdainful mockery. It was remarked that the military men especially were loud in the expression of contempt. "Do we seriously think of going to the King and telling him that, as he has condescended to ask our advice at this momentous crisis, we humbly advise him to turn a Dutch storekeeper out of the Tower? Really, if we have no more important suggestion to carry up to the throne, we may as well go to our dinners." The members generally were of the same mind. The chairman was voted out of the chair, and was not directed to ask leave to sit again. The Grand Committee ceased to exist. The resolutions which it had passed were formally reported to the House. One of them was rejected; the others were suffered to drop; and the Commons, after considering during several weeks what advice they should give to the King, ended by giving him no advice at all. 354 (#x23_x_23_i198)

The temper of the Lords was different. From many circumstances it appears that there was no place where the Dutch were, at this time, so much hated as in the Upper House. The dislike with which an Englishman of the middle class regarded the King's foreign friends was merely national. But the dislike with which an English nobleman regarded them was personal. They stood between him and Majesty. They intercepted from him the rays of royal favour. The preference given to them wounded him both in his interests and in his pride. His chance of the Garter was much smaller since they had become his competitors. He might have been Master of the Horse but for Auverquerque, Master of the Robes but for Zulestein, Groom of the Stole but for Bentinck. 355 (#x23_x_23_i201) The ill humour of the aristocracy was inflamed by Marlborough, who, at this time, affected the character of a patriot persecuted for standing up against the Dutch in defence of the interests of his native land, and who did not foresee that a day would come when he would be accused of sacrificing the interests of his native land to gratify the Dutch. The Peers determined to present an address, requesting William not to place his English troops under the command of a foreign general. They took up very seriously that question which had moved the House of Commons to laughter, and solemnly counselled their Sovereign not to employ foreigners in his magazines. At Marlborough's suggestion they urged the King to insist that the youngest English general should take precedence of the oldest general in the service of the States General. It was, they said, derogatory to the dignity of the Crown, that an officer who held a commission from His Majesty should ever be commanded by an officer who held a similar commission from a republic. To this advice, evidently dictated by an ignoble malevolence to Holland, William, who troubled himself little about votes of the Upper House which were not backed by the Lower, returned, as might have been expected, a very short and dry answer. 356 (#x23_x_23_i204)

While the inquiry into the conduct of the war was pending, the Commons resumed the consideration of an important subject which had occupied much of their attention in the preceding year. The Bill for the Regulation of Trials in cases of High Treason was again brought in, but was strongly opposed by the official men, both Whigs and Tories. Somers, now Attorney General, strongly recommended delay. That the law, as it stood, was open to grave objections, was not denied; but it was contended that the proposed reform would, at that moment, produce more harm than good. Nobody would assert that, under the existing government, the lives of innocent subjects were in any danger. Nobody would deny that the government itself was in great danger. Was it the part of wise men to increase the perils of that which was already in serious peril for the purpose of giving new security to that which was already perfectly secure? Those who held this language were twitted with their inconsistency, and asked why they had not ventured to oppose the bill in the preceding session. They answered very plausibly that the events which had taken place during the recess had taught an important lesson to all who were capable of learning. The country had been threatened at once with invasion and insurrection. No rational man doubted that many traitors had made preparations for joining the French, and had collected arms, ammunition and horses for that purpose. Yet, though there was abundant moral evidence against these enemies of their country, it had not been possible to find legal evidence against a single one of them. The law of treason might, in theory, be harsh, and had undoubtedly, in times past, been grossly abused. But a statesman who troubled himself less about theory than about practice, and less about times past than about the time present, would pronounce that law not too stringent but too lax, and would, while the commonwealth remained in extreme jeopardy, refuse to consent to any further relaxation. In spite of all opposition, however, the principle of the bill was approved by one hundred and seventy-one votes to one hundred and fifty-two. But in the committee it was moved and carried that the new rules of procedure should not come into operation till after the end of the war with France. When the report was brought up the House divided on this amendment, and ratified it by a hundred and forty-five votes to a hundred and twenty-five. The bill was consequently suffered to drop. 357 (#x23_x_23_i207) Had it gone up to the Peers it would in all probability have been lost after causing another quarrel between the Houses. For the Peers were fully determined that no such bill should pass, unless it contained a clause altering the constitution of the Lord High Steward's Court; and a clause altering the constitution of the Lord High Steward's Court would have been less likely than ever to find favour with the Commons. For in the course of this session an event took place which proved that the great were only too well protected by the law as it stood, and which well deserves to be recorded as a striking illustration of the state of manners and morals in that age.

Of all the actors who were then on the English stage the most graceful was William Mountford. He had every physical qualification for his calling, a noble figure, a handsome face, a melodious voice. It was not easy to say whether he succeeded better in heroic or in ludicrous parts. He was allowed to be both the best Alexander and the best Sir Courtly Nice that ever trod the boards. Queen Mary, whose knowledge was very superficial, but who had naturally a quick perception of what was excellent in art, admired him greatly. He was a dramatist as well as a player, and has left us one comedy which is not contemptible. 358 (#x23_x_23_i210)

The most popular actress of the time was Anne Bracegirdle. There were on the stage many women of more faultless beauty, but none whose features and deportment had such power to fascinate the senses and the hearts of men. The sight of her bright black eyes and of her rich brown cheek sufficed to put the most turbulent audience into good humour. It was said of her that in the crowded theatre she had as many lovers as she had male spectators. Yet no lover, however rich, however high in rank, had prevailed on her to be his mistress. Those who are acquainted with the parts which she was in the habit of playing, and with the epilogues which it was her especial business to recite, will not easily give her credit for any extraordinary measure of virtue or of delicacy. She seems to have been a cold, vain and interested coquette, who perfectly understood how much the influence of her charms was increased by the fame of a severity which cost her nothing, and who could venture to flirt with a succession of admirers in the just confidence that no flame which she might kindle in them would thaw her own ice. 359 (#x23_x_23_i213) Among those who pursued her with an insane desire was a profligate captain in the army named Hill. With Hill was closely bound in a league of debauchery and violence Charles Lord Mohun, a young nobleman whose life was one long revel and brawl. Hill, finding that the beautiful brunette was invincible, took it into his head that he was rejected for a more favoured rival, and that this rival was the brilliant Mountford. The jealous lover swore over his wine at a tavern that he would stab the villain. "And I," said Mohun, "will stand by my friend." From the tavern the pair went, with some soldiers whose services Hill had secured, to Drury Lane where the lady resided. They lay some time in wait for her. As soon as she appeared in the street she was seized and hurried to a coach. She screamed for help; her mother clung round her; the whole neighbourhood rose; and she was rescued. Hill and Mohun went away vowing vengeance. They swaggered sword in hand during two hours about the streets near Mountford's dwelling. The watch requested them to put up their weapons. But when the young lord announced that he was a peer, and bade the constables touch him if they durst, they let him pass. So strong was privilege then; and so weak was law. Messengers were sent to warn Mountford of his danger; but unhappily they missed him. He came. A short altercation took place between him and Mohun; and, while they were wrangling, Hill ran the unfortunate actor through the body, and fled.

The grand jury of Middlesex, consisting of gentlemen of note, found a bill of murder against Hill and Mohun. Hill escaped. Mohun was taken. His mother threw herself at William's feet, but in vain. "It was a cruel act," said the King; "I shall leave it to the law." The trial came on in the Court of the Lord High Steward; and, as Parliament happened to be sitting, the culprit had the advantage of being judged by the whole body of the peerage. There was then no lawyer in the Upper House. It therefore became necessary, for the first time since Buckhurst had pronounced sentence on Essex and Southampton, that a peer who had never made jurisprudence his special study should preside over that grave tribunal. Caermarthen, who, as Lord President, took precedence of all the nobility, was appointed Lord High Steward. A full report of the proceedings has come down to us. No person, who carefully examines that report, and attends to the opinion unanimously given by the judges in answer to a question which Nottingham drew up, and in which the facts brought out by the evidence are stated with perfect fairness, can doubt that the crime of murder was fully brought home to the prisoner. Such was the opinion of the King who was present during the trial; and such was the almost unanimous opinion of the public. Had the issue been tried by Holt and twelve plain men at the Old Bailey, there can be no doubt that a verdict of Guilty would have been returned. The Peers, however, by sixty-nine votes to fourteen, acquitted their accused brother. One great nobleman was so brutal and stupid as to say, "After all the fellow was but a player; and players are rogues." All the newsletters, all the coffeehouse orators, complained that the blood of the poor was shed with impunity by the great. Wits remarked that the only fair thing about the trial was the show of ladies in the galleries. Letters and journals are still extant in which men of all shades of opinion, Whigs, Tories, Nonjurors, condemn the partiality of the tribunal. It was not to be expected that, while the memory of this scandal was fresh in the public mind, the Commons would be induced to give any new advantage to accused peers. 360 (#x23_x_23_i216)

The Commons had, in the meantime, resumed the consideration of another highly important matter, the state of the trade with India. They had, towards the close of the preceding session, requested the King to dissolve the old Company and to constitute a new Company on such terms as he should think fit; and he had promised to take their request into his serious consideration. He now sent a message to inform them that it was out of his power to do what they had asked. He had referred the charter of the old Company to the Judges, and the judges had pronounced that, under the provisions of that charter, the old Company could not be dissolved without three years' notice, and must retain during those three years the exclusive privilege of trading to the East Indies. He added that, being sincerely desirous to gratify the Commons, and finding himself unable to do so in the way which they had pointed out, he had tried to prevail on the old Company to agree to a compromise; but that body stood obstinately on its extreme rights; and his endeavours had been frustrated. 361 (#x23_x_23_i219)

This message reopened the whole question. The two factions which divided the City were instantly on the alert. The debates in the House were long and warm. Petitions against the old Company were laid on the table. Satirical handbills against the new Company were distributed in the lobby. At length, after much discussion, it was resolved to present an address requesting the King to give the notice which the judges had pronounced necessary. He promised to bear the subject in mind, and to do his best to promote the welfare of the kingdom. With this answer the House was satisfied, and the subject was not again mentioned till the next session. 362 (#x23_x_23_i222)

The debates of the Commons on the conduct of the war, on the law of treason and on the trade with India, occupied much time, and produced no important result. But meanwhile real business was doing in the Committee of Supply and the Committee of Ways and Means. In the Committee of Supply the estimates passed rapidly. A few members declared it to be their opinion that England ought to withdraw her troops from the Continent, to carry on the war with vigour by sea, and to keep up only such an army as might be sufficient to repel any invader who might elude the vigilance of her fleets. But this doctrine, which speedily became and long continued to be the badge of one of the great parties in the state, was as yet professed only by a small minority which did not venture to call for a division. 363 (#x23_x_23_i225)

In the Committee of Ways and Means, it was determined that a great part of the charge of the year should be defrayed by means of an impost, which, though old in substance, was new in form. From a very early period to the middle of the seventeenth century, our Parliaments had provided for the extraordinary necessities of the government chiefly by granting subsidies. A subsidy was raised by an impost on the people of the realm in respect of their reputed estates. Landed property was the chief subject of taxation, and was assessed nominally at four shillings in the pound. But the assessment was made in such a way that it not only did not rise in proportion to the rise in the value of land or to the fall in the value of the precious metals, but went on constantly sinking, till at length the rate was in truth less than twopence in the pound. In the time of Charles the First a real tax of four shillings in the pound on land would probably have yielded near a million and a half; but a subsidy amounted to little more than fifty thousand pounds. 364 (#x23_x_23_i228)

The financiers of the Long Parliament devised a more efficient mode of taxing estates. The sum which was to be raised was fixed. It was then distributed among the counties in proportion to their supposed wealth, and was levied within each county by a rate. The revenue derived from these assessments in the time of the Commonwealth varied from thirty-five thousand pounds to a hundred and twenty thousand pounds a month.

After the Restoration the legislature seemed for a time inclined to revert, in finance as in other things, to the ancient practice. Subsidies were once or twice granted to Charles the Second. But it soon appeared that the old system was much less convenient than the new system. The Cavaliers condescended to take a lesson in the art of taxation from the Roundheads; and, during the interval between the Restoration and the Revolution, extraordinary calls were occasionally met by assessments resembling the assessments of the Commonwealth. After the Revolution, the war with France made it necessary to have recourse annually to this abundant source of revenue. In 1689, in 1690 and in 1691, great sums had been raised on the land. At length in 1692 it was determined to draw supplies from real property more largely than ever. The Commons resolved that a new and more accurate valuation of estates should be made over the whole realm, and that on the rental thus ascertained a pound rate should be paid to the government.

Such was the origin of the existing land tax. The valuation made in 1692 has remained unaltered down to our own time. According to that valuation, one shilling in the pound on the rental of the kingdom amounted, in round numbers, to half a million. During a hundred and six years, a land tax bill was annually presented to Parliament, and was annually passed, though not always without murmurs from the country gentlemen. The rate was, in time of war, four shillings in the pound. In time of peace, before the reign of George the Third, only two or three shillings were usually granted; and, during a short part of the prudent and gentle administration of Walpole, the government asked for only one shilling. But, after the disastrous year in which England drew the sword against her American colonies, the rate was never less than four shillings. At length, in the year 1798, the Parliament relieved itself from the trouble of passing a new Act every spring. The land tax, at four shillings in the pound, was made permanent; and those who were subject to it were permitted to redeem it. A great part has been redeemed; and at present little more than a fiftieth of the ordinary revenue required in time of peace is raised by that impost which was once regarded as the most productive of all the resources of the State. 365 (#x23_x_23_i231)

The land tax was fixed, for the year 1693, at four shillings in the pound, and consequently brought about two millions into the Treasury. That sum, small as it may seem to a generation which has expended a hundred and twenty millions in twelve months, was such as had never before been raised here in one year by direct taxation. It seemed immense both to Englishmen and to foreigners. Lewis, who found it almost impossible to wring by cruel exactions from the beggared peasantry of France the means of supporting the greatest army and the most gorgeous court that had existed in Europe since the downfall of the Roman empire, broke out, it is said, into an exclamation of angry surprise when he learned that the Commons of England had, from dread and hatred of his power, unanimously determined to lay on themselves, in a year of scarcity and of commercial embarrassment, a burden such as neither they nor their fathers had ever before borne. "My little cousin of Orange," he said, "seems to be firm in the saddle." He afterwards added: "No matter, the last piece of gold will win." This however was a consideration from which, if he had been well informed touching the resources of England, he would not have derived much comfort. Kensington was certainly a mere hovel when compared to his superb Versailles. The display of jewels, plumes and lace, led horses and gilded coaches, which daily surrounded him, far outshone the splendour which, even on great public occasions, our princes were in the habit of displaying. But the condition of the majority of the people of England was, beyond all doubt, such as the majority of the people of France might well have envied. In truth what was called severe distress here would have been called unexampled prosperity there.

The land tax was not imposed without a quarrel between the Houses. The Commons appointed commissioners to make the assessment. These commissioners were the principal gentlemen of every county, and were named in the bill. The Lords thought this arrangement inconsistent with the dignity of the peerage. They therefore inserted a clause providing that their estates should be valued by twenty of their own order. The Lower House indignantly rejected this amendment, and demanded an instant conference. After some delay, which increased the ill humour of the Commons, the conference took place. The bill was returned to the Peers with a very concise and haughty intimation that they must not presume to alter laws relating to money. A strong party among the Lords was obstinate. Mulgrave spoke at great length against the pretensions of the plebeians. He told his brethren that, if they gave way, they would abdicate that authority which had belonged to the baronage of England ever since the foundation of the monarchy, and that they would have nothing left of their old greatness except their coronets and ermines. Burnet says that this speech was the finest that he ever heard in Parliament; and Burnet was undoubtedly a good judge of speaking, and was neither partial to Mulgrave nor zealous for the privileges of the aristocracy. The orator, however, though he charmed his hearers, did not succeed in convincing them. Most of them shrank from a conflict in which they would have had against them the Commons united as one man, and the King, who, in case of necessity, would undoubtedly have created fifty peers rather than have suffered the land tax bill to be lost. Two strong protests, however, signed, the first by twenty-seven, the second by twenty-one dissentients, show how obstinately many nobles were prepared to contend at all hazards for the dignity of their caste. Another conference was held; and Rochester announced that the Lords, for the sake of the public interest, waived what they must nevertheless assert to be their clear right, and would not insist on their amendment. 366 (#x23_x_23_i234) The bill passed, and was followed by bills for laying additional duties on imports, and for taxing the dividends of joint stock companies.

Still, however, the estimated revenue was not equal to the estimated expenditure. The year 1692 had bequeathed a large deficit to the year 1693; and it seemed probable that the charge for 1693 would exceed by about five hundred thousand pounds the charge for 1692. More than two millions had been voted for the army and ordnance, near two millions for the navy. 367 (#x23_x_23_i237) Only eight years before fourteen hundred thousand pounds had defrayed the whole annual charge of government. More than four times that sum was now required. Taxation, both direct and indirect, had been carried to an unprecedented point; yet the income of the state still fell short of the outlay by about a million. It was necessary to devise something. Something was devised, something of which the effects are felt to this day in every part of the globe.

There was indeed nothing strange or mysterious in the expedient to which the government had recourse. It was an expedient familiar, during two centuries, to the financiers of the Continent, and could hardly fail to occur to any English statesman who compared the void in the Exchequer with the overflow in the money market.

During the interval between the Restoration and the Revolution the riches of the nation had been rapidly increasing. Thousands of busy men found every Christmas that, after the expenses of the year's housekeeping had been defrayed out of the year's income, a surplus remained; and how that surplus was to be employed was a question of some difficulty. In our time, to invest such a surplus, at something more than three per cent., on the best security that has ever been known in the world, is the work of a few minutes. But in the seventeenth century a lawyer, a physician, a retired merchant, who had saved some thousands and who wished to place them safely and profitably, was often greatly embarrassed. Three generations earlier, a man who had accumulated wealth in a profession generally purchased real property or lent his savings on mortgage. But the number of acres in the kingdom had remained the same; and the value of those acres, though it had greatly increased, had by no means increased so fast as the quantity of capital which was seeking for employment. Many too wished to put their money where they could find it at an hour's notice, and looked about for some species of property which could be more readily transferred than a house or a field. A capitalist might lend on bottomry or on personal security; but, if he did so, he ran a great risk of losing interest and principal. There were a few joint stock companies, among which the East India Company held the foremost place; but the demand for the stock of such companies was far greater than the supply. Indeed the cry for a new East India Company was chiefly raised by persons who had found difficulty in placing their savings at interest on good security. So great was that difficulty that the practice of hoarding was common. We are told that the father of Pope the poet, who retired from business in the City about the time of the Revolution, carried to a retreat in the country a strong box containing near twenty thousand pounds, and took out from time to time what was required for household expenses; and it is highly probable that this was not a solitary case. At present the quantity of coin which is hoarded by private persons is so small that it would, if brought forth, make no perceptible addition to the circulation. But, in the earlier part of the reign of William the Third, all the greatest writers on currency were of opinion that a very considerable mass of gold and silver was hidden in secret drawers and behind wainscots.

The natural effect of this state of things was that a crowd of projectors, ingenious and absurd, honest and knavish, employed themselves in devising new schemes for the employment of redundant capital. It was about the year 1688 that the word stockjobber was first heard in London. In the short space of four years a crowd of companies, every one of which confidently held out to subscribers the hope of immense gains, sprang into existence; the Insurance Company, the Paper Company, the Lutestring Company, the Pearl Fishery Company, the Glass Bottle Company, the Alum Company, the Blythe Coal Company, the Swordblade Company. There was a Tapestry Company which would soon furnish pretty hangings for all the parlours of the middle class and for all the bedchambers of the higher. There was a Copper Company which proposed to explore the mines of England, and held out a hope that they would prove not less valuable than those of Potosi. There was a Diving Company which undertook to bring up precious effects from shipwrecked vessels, and which announced that it had laid in a stock of wonderful machines resembling complete suits of armour. In front of the helmet was a huge glass eye like that of a cyclop; and out of the crest went a pipe through which the air was to be admitted. The whole process was exhibited on the Thames. Fine gentlemen and fine ladies were invited to the show, were hospitably regaled, and were delighted by seeing the divers in their panoply descend into the river and return laden with old iron, and ship's tackle. There was a Greenland Fishing Company which could not fail to drive the Dutch whalers and herring busses out of the Northern Ocean. There was a Tanning Company which promised to furnish leather superior to the best that was brought from Turkey or Russia. There was a society which undertook the office of giving gentlemen a liberal education on low terms, and which assumed the sounding name of the Royal Academies Company. In a pompous advertisement it was announced that the directors of the Royal Academies Company had engaged the best masters in every branch of knowledge, and were about to issue twenty thousand tickets at twenty shillings each. There was to be a lottery; two thousand prizes were to be drawn; and the fortunate holders of the prizes were to be taught, at the charge of the Company, Latin, Greek, Hebrew, French, Spanish, conic sections, trigonometry, heraldry, japanning, fortification, bookkeeping and the art of playing the theorbo. Some of these companies took large mansions and printed their advertisements in gilded letters. Others, less ostentatious, were content with ink, and met at coffeehouses in the neighbourhood of the Royal Exchange. Jonathan's and Garraway's were in a constant ferment with brokers, buyers, sellers, meetings of directors, meetings of proprietors. Time bargains soon came into fashion. Extensive combinations were formed, and monstrous fables were circulated, for the purpose of raising or depressing the price of shares. Our country witnessed for the first time those phenomena with which a long experience has made us familiar. A mania of which the symptoms were essentially the same with those of the mania of 1720, of the mania of 1825, of the mania of 1845, seized the public mind. An impatience to be rich, a contempt for those slow but sure gains which are the proper reward of industry, patience and thrift, spread through society. The spirit of the cogging dicers of Whitefriars took possession of the grave Senators of the City, Wardens of Trades, Deputies, Aldermen. It was much easier and much more lucrative to put forth a lying prospectus announcing a new stock, to persuade ignorant people that the dividends could not fall short of twenty per cent., and to part with five thousand pounds of this imaginary wealth for ten thousand solid guineas, than to load a ship with a well chosen cargo for Virginia or the Levant. Every day some new bubble was puffed into existence, rose buoyant, shone bright, burst, and was forgotten. 368 (#x23_x_23_i240)

The new form which covetousness had taken furnished the comic poets and satirists with an excellent subject; nor was that subject the less welcome to them because some of the most unscrupulous and most successful of the new race of gamesters were men in sad coloured clothes and lank hair, men who called cards the Devil's books, men who thought it a sin and a scandal to win or lose twopence over a backgammon board. It was in the last drama of Shadwell that the hypocrisy and knavery of these speculators was, for the first time, exposed to public ridicule. He died in November 1692, just before his Stockjobbers came on the stage; and the epilogue was spoken by an actor dressed in deep mourning. The best scene is that in which four or five stern Nonconformists, clad in the full Puritan costume, after discussing the prospects of the Mousetrap Company and the Fleakilling Company, examine the question whether the godly may lawfully hold stock in a Company for bringing over Chinese ropedancers. "Considerable men have shares," says one austere person in cropped hair and bands; "but verily I question whether it be lawful or not." These doubts are removed by a stout old Roundhead colonel who had fought at Marston Moor, and who reminds his weaker brother that the saints need not themselves see the ropedancing, and that, in all probability, there will be no ropedancing to see. "The thing," he says, "is like to take; the shares will sell well; and then we shall not care whether the dancers come over or no." It is important to observe that this scene was exhibited and applauded before one farthing of the national debt had been contracted. So ill informed were the numerous writers who, at a later period, ascribed to the national debt the existence of stockjobbing and of all the immoralities connected with stockjobbing. The truth is that society had, in the natural course of its growth, reached a point at which it was inevitable that there should be stockjobbing whether there were a national debt or not, and inevitable also that, if there were a long and costly war, there should be a national debt.

How indeed was it possible that a debt should not have been contracted, when one party was impelled by the strongest motives to borrow, and another was impelled by equally strong motives to lend? A moment had arrived at which the government found it impossible, without exciting the most formidable discontents, to raise by taxation the supplies necessary to defend the liberty and independence of the nation; and, at that very moment, numerous capitalists were looking round them in vain for some good mode of investing their savings, and, for want of such a mode, were keeping their wealth locked up, or were lavishing it on absurd projects. Riches sufficient to equip a navy which would sweep the German Ocean and the Atlantic of French privateers, riches sufficient to maintain an army which might retake Namur and avenge the disaster of Steinkirk, were lying idle, or were passing away from the owners into the hands of sharpers. A statesman might well think that some part of the wealth which was daily buried or squandered might, with advantage to the proprietor, to the taxpayer and to the State, be attracted into the Treasury. Why meet the extraordinary charge of a year of war by seizing the chairs, the tables, the beds of hardworking families, by compelling one country gentleman to cut down his trees before they were ready for the axe, another to let the cottages on his land fall to ruin, a third to take away his hopeful son from the University, when Change Alley was swarming with people who did not know what to do with their money and who were pressing every body to borrow it?

It was often asserted at a later period by Tories, who hated the national debt most of all things, and who hated Burnet most of all men, that Burnet was the person who first advised the government to contract a national debt. But this assertion is proved by no trustworthy evidence, and seems to be disproved by the Bishop's silence. Of all men he was the least likely to conceal the fact that an important fiscal revolution had been his work. Nor was the Board of Treasury at that time one which much needed, or was likely much to regard, the counsels of a divine. At that Board sate Godolphin the most prudent and experienced, and Montague the most daring and inventive of financiers. Neither of these eminent men could be ignorant that it had long been the practice of the neighbouring states to spread over many years of peace the excessive taxation which was made necessary by one year of war. In Italy this practice had existed through many generations. France had, during the war which began in 1672 and ended in 1679, borrowed not less than thirty millions of our money. Sir William Temple, in his interesting work on the Batavian federation, had told his countrymen that, when he was ambassador at the Hague, the single province of Holland, then ruled by the frugal and prudent De Witt, owed about five millions sterling, for which interest at four per cent. was always ready to the day, and that when any part of the principal was paid off the public creditor received his money with tears, well knowing that he could find no other investment equally secure. The wonder is not that England should have at length imitated the example both of her enemies and of her allies, but that the fourth year of her arduous and exhausting struggle against Lewis should have been drawing to a close before she resorted to an expedient so obvious.

On the fifteenth of December 1692 the House of Commons resolved itself into a Committee of Ways and Means. Somers took the chair. Montague proposed to raise a million by way of loan; the proposition was approved; and it was ordered that a bill should be brought in. The details of the scheme were much discussed and modified; but the principle appears to have been popular with all parties. The moneyed men were glad to have a good opportunity of investing what they had hoarded. The landed men, hard pressed by the load of taxation, were ready to consent to any thing for the sake of present ease. No member ventured to divide the House. On the twentieth of January the bill was read a third time, carried up to the Lords by Somers, and passed by them without any amendment. 369 (#x23_x_23_i243)

By this memorable law new duties were imposed on beer and other liquors. These duties were to be kept in the Exchequer separate from all other receipts, and were to form a fund on the credit of which a million was to be raised by life annuities. As the annuitants dropped off, their annuities were to be divided among the survivors, till the number of survivors was reduced to seven. After that time, whatever fell in was to go to the public. It was therefore certain that the eighteenth century would be far advanced before the debt would be finally extinguished. The rate of interest was to be ten per cent. till the year 1700, and after that year seven per cent. The advantages offered to the public creditor by this scheme may seem great, but were not more than sufficient to compensate him for the risk which he ran. It was not impossible that there might be a counterrevolution; and it was certain that, if there were a counterrevolution, those who had lent money to William would lose both interest and principal.

Such was the origin of that debt which has since become the greatest prodigy that ever perplexed the sagacity and confounded the pride of statesmen and philosophers. At every stage in the growth of that debt the nation has set up the same cry of anguish and despair. At every stage in the growth of that debt it has been seriously asserted by wise men that bankruptcy and ruin were at hand. Yet still the debt went on growing; and still bankruptcy and ruin were as remote as ever. When the great contest with Lewis the Fourteenth was finally terminated by the Peace of Utrecht, the nation owed about fifty millions; and that debt was considered, not merely by the rude multitude, not merely by foxhunting squires and coffeehouse orators, but by acute and profound thinkers, as an incumbrance which would permanently cripple the body politic; Nevertheless trade flourished; wealth increased; the nation became richer and richer. Then came the war of the Austrian Succession; and the debt rose to eighty millions. Pamphleteers, historians and orators pronounced that now, at all events, our case was desperate. Yet the signs of increasing prosperity, signs which could neither be counterfeited nor concealed, ought to have satisfied observant and reflecting men that a debt of eighty millions was less to the England which was governed by Pelham than a debt of fifty millions had been to the England which was governed by Oxford. Soon war again broke forth; and, under the energetic and prodigal administration of the first William Pitt, the debt rapidly swelled to a hundred and forty millions. As soon as the first intoxication of victory was over, men of theory and men of business almost unanimously pronounced that the fatal day had now really arrived. The only statesman, indeed, active or speculative, who did not share in the general delusion was Edmund Burke. David Hume, undoubtedly one of the most profound political economists of his time, declared that our madness had exceeded the madness of the Crusaders. Richard Coeur de Lion and Saint Lewis had not gone in the face of arithmetical demonstration. It was impossible to prove by figures that the road to Paradise did not lie through the Holy Land; but it was possible to prove by figures that the road to national ruin was through the national debt. It was idle, however, now to talk about the road; we had done with the road; we had reached the goal; all was over; all the revenues of the island north of Trent and west of Reading were mortgaged. Better for us to have been conquered by Prussia or Austria than to be saddled with the interest of a hundred and forty millions. 370 (#x23_x_23_i246) And yet this great philosopher—for such he was—had only to open his eyes, and to see improvement all around him, cities increasing, cultivation extending, marts too small for the crowd of buyers and sellers, harbours insufficient to contain the shipping, artificial rivers joining the chief inland seats of industry to the chief seaports, streets better lighted, houses better furnished, richer wares exposed to sale in statelier shops, swifter carriages rolling along smoother roads. He had, indeed, only to compare the Edinburgh of his boyhood with the Edinburgh of his old age. His prediction remains to posterity, a memorable instance of the weakness from which the strongest minds are not exempt. Adam Smith saw a little and but a little further. He admitted that, immense as the burden was, the nation did actually sustain it and thrive under it in a way which nobody could have foreseen. But he warned his countrymen not to repeat so hazardous an experiment. The limit had been reached. Even a small increase might be fatal. 371 (#x23_x_23_i249) Not less gloomy was the view which George Grenville, a minister eminently diligent and practical, took of our financial situation. The nation must, he conceived, sink under a debt of a hundred and forty millions, unless a portion of the load were borne by the American colonies. The attempt to lay a portion of the load on the American colonies produced another war. That war left us with an additional hundred millions of debt, and without the colonies whose help had been represented as indispensable. Again England was given over; and again the strange patient persisted in becoming stronger and more blooming in spite of all the diagnostics and prognostics of State physicians. As she had been visibly more prosperous with a debt of a hundred and forty millions than with a debt of fifty millions, so she, as visibly more prosperous with a debt of two hundred and forty millions than with a debt of a hundred and forty millions. Soon however the wars which sprang from the French Revolution, and which far exceeded in cost any that the world had ever seen, tasked the powers of public credit to the utmost. When the world was again at rest the funded debt of England amounted to eight hundred millions. If the most enlightened man had been told, in 1792, that, in 1815, the interest on eight hundred millions would be duly paid to the day at the Bank, he would have been as hard of belief as if he had been told that the government would be in possession of the lamp of Aladdin or of the purse of Fortunatus. It was in truth a gigantic, a fabulous debt; and we can hardly wonder that the cry of despair should have been louder than ever. But again that cry was found to have been as unreasonable as ever. After a few years of exhaustion, England recovered herself. Yet, like Addison's valetudinarian, who continued to whimper that he was dying of consumption till he became so fat that he was shamed into silence, she went on complaining that she was sunk in poverty till her wealth showed itself by tokens which made her complaints ridiculous. The beggared, the bankrupt society not only proved able to meet all its obligations, but, while meeting those obligations, grew richer and richer so fast that the growth could almost be discerned by the eye. In every county, we saw wastes recently turned into gardens; in every city, we saw new streets, and squares, and markets, more brilliant lamps, more abundant supplies of water; in the suburbs of every great seat of industry, we saw villas multiplying fast, each embosomed in its gay little paradise of lilacs and roses. While shallow politicians were repeating that the energies of the people were borne down by the weight of the public burdens, the first journey was performed by steam on a railway. Soon the island was intersected by railways. A sum exceeding the whole amount of the national debt at the end of the American war was, in a few years, voluntarily expended by this ruined people in viaducts, tunnels, embankments, bridges, stations, engines. Meanwhile taxation was almost constantly becoming lighter and lighter; yet still the Exchequer was full. It may be now affirmed without fear of contradiction that we find it as easy to pay the interest of eight hundred millions as our ancestors found it, a century ago, to pay the interest of eighty millions.

It can hardly be doubted that there must have been some great fallacy in the notions of those who uttered and of those who believed that long succession of confident predictions, so signally falsified by a long succession of indisputable facts. To point out that fallacy is the office rather of the political economist than of the historian. Here it is sufficient to say that the prophets of evil were under a double delusion. They erroneously imagined that there was an exact analogy between the case of an individual who is in debt to another individual and the case of a society which is in debt to a part of itself; and this analogy led them into endless mistakes about the effect of the system of funding. They were under an error not less serious touching the resources of the country. They made no allowance for the effect produced by the incessant progress of every experimental science, and by the incessant efforts of every man to get on in life. They saw that the debt grew; and they forgot that other things grew as well as the debt.

A long experience justifies us in believing that England may, in the twentieth century, be better able to bear a debt of sixteen hundred millions than she is at the present time to bear her present load. But be this as it may, those who so confidently predicted that she must sink, first under a debt of fifty millions, then under a debt of eighty millions then under a debt of a hundred and forty millions, then under a debt of two hundred and forty millions, and lastly under a debt of eight hundred millions, were beyond all doubt under a twofold mistake. They greatly overrated the pressure of the burden; they greatly underrated the strength by which the burden was to be borne.

It may be desirable to add a few words touching the way in which the system of funding has affected the interests of the great commonwealth of nations. If it be true that whatever gives to intelligence an advantage over brute force and to honesty an advantage over dishonesty has a tendency to promote the happiness and virtue of our race, it can scarcely be denied that, in the largest view, the effect of this system has been salutary. For it is manifest that all credit depends on two things, on the power of a debtor to pay debts, and on his inclination to pay them. The power of a society to pay debts is proportioned to the progress which that society has made in industry, in commerce, and in all the arts and sciences which flourish under the benignant influence of freedom and of equal law. The inclination of a society to pay debts is proportioned to the degree in which that society respects the obligations of plighted faith. Of the strength which consists in extent of territory and in number of fighting men, a rude despot who knows no law but his own childish fancies and headstrong passions, or a convention of socialists which proclaims all property to be robbery, may have more than falls to the lot of the best and wisest government. But the strength which is derived from the confidence of capitalists such a despot, such a convention, never can possess. That strength,—and it is a strength which has decided the event of more than one great conflict,—flies, by the law of its nature, from barbarism and fraud, from tyranny and anarchy, to follow civilisation and virtue, liberty and order.

While the bill which first created the funded debt of England was passing, with general approbation, through the regular stages, the two Houses discussed, for the first time, the great question of Parliamentary Reform.

It is to be observed that the object of the reformers of that generation was merely to make the representative body a more faithful interpreter of the sense of the constituent body. It seems scarcely to have occurred to any of them that the constituent body might be an unfaithful interpreter of the sense of the nation. It is true that those deformities in the structure of the constituent body, which, at length, in our own days, raised an irresistible storm of public indignation, were far less numerous and far less offensive in the seventeenth century than they had become in the nineteenth. Most of the boroughs which were disfranchised in 1832 were, if not positively, yet relatively, much more important places in the reign of William the Third than in the reign of William the Fourth. Of the populous and wealthy manufacturing towns, seaports and watering places, to which the franchise was given in the reign of William the Fourth, some were, in the reign of William the Third, small hamlets, where a few ploughmen or fishermen lived under thatched roofs; some were fields covered with harvests, or moors abandoned to grouse; With the exception of Leeds and Manchester, there was not, at the time of the Revolution, a single town of five thousand inhabitants which did not send two representatives to the House of Commons. Even then, however, there was no want of startling anomalies. Looe, East and West, which contained not half the population or half the wealth of the smallest of the hundred parishes of London, returned as many members as London. 372 (#x23_x_23_i252) Old Sarum, a deserted ruin which the traveller feared to enter at night lest he should find robbers lurking there, had as much weight in the legislature as Devonshire or Yorkshire. 373 (#x23_x_23_i255) Some eminent individuals of both parties, Clarendon, for example, among the Tories, and Pollexfen among the Whigs, condemned this system. Yet both parties were, for very different reasons, unwilling to alter it. It was protected by the prejudices of one faction and by the interests of the other. Nothing could be more repugnant to the genius of Toryism than the thought of destroying at a blow institutions which had stood through ages, for the purpose of building something more symmetrical out of the ruins. The Whigs, on the other hand, could not but know that they were much more likely to lose than to gain by a change in this part of our polity. It would indeed be a great mistake to imagine that a law transferring political power from small to large constituent bodies would have operated in 1692 as it operated in 1832.

In 1832 the effect of the transfer was to increase the power of the town population. In 1692 the effect would have been to make the power of the rural population irresistible. Of the one hundred and forty-two members taken away in 1832 from small boroughs more than half were given to large and flourishing towns. But in 1692 there was hardly one large and flourishing town which had not already as many members as it could, with any show of reason, claim. Almost all therefore that was taken from the small boroughs must have been given to the counties; and there can be no doubt that whatever tended to raise the counties and to depress the towns must on the whole have tended to raise the Tories and to depress the Whigs. From the commencement of our civil troubles the towns had been on the side of freedom and progress, the country gentlemen and the country clergymen on the side of authority and prescription. If therefore a reform bill, disfranchising small constituent bodies and giving additional members to large constituent bodies, had become law soon after the Revolution, there can be little doubt that a decided majority of the House of Commons would have consisted of rustic baronets and squires, high Churchmen, high Tories, and half Jacobites. With such a House of Commons it is almost certain that there would have been a persecution of the Dissenters; it is not easy to understand how there could have been an union with Scotland; and it is not improbable that there would have been a restoration of the Stuarts. Those parts of our constitution therefore which, in recent times, politicians of the liberal school have generally considered as blemishes, were, five generations ago, regarded with complacency by the men who were most zealous for civil and religious freedom.

But, while Whigs and Tories agreed in wishing to maintain the existing rights of election, both Whigs and Tories were forced to admit that the relation between the elector and the representative was not what it ought to be. Before the civil wars the House of Commons had enjoyed the fullest confidence of the nation. A House of Commons, distrusted, despised, hated by the Commons, was a thing unknown. The very words would, to Sir Peter Wentworth or Sir Edward Coke, have sounded like a contradiction in terms. But by degrees a change took place. The Parliament elected in 1661, during that fit of joy and fondness which followed the return of the royal family, represented, not the deliberate sense, but the momentary caprice of the nation. Many of the members were men who, a few months earlier or a few months later, would have had no chance of obtaining seats, men of broken fortunes and of dissolute habits, men whose only claim to public confidence was the ferocious hatred which they bore to rebels and Puritans. The people, as soon as they had become sober, saw with dismay to what an assembly they had, during their intoxication, confided the care of their property, their liberty and their religion. And the choice, made in a moment of frantic enthusiasm, might prove to be a choice for life. As the law then stood, it depended entirely on the King's pleasure whether, during his reign, the electors should have an opportunity of repairing their error. Eighteen years passed away. A new generation grew up. To the fervid loyalty with which Charles had been welcomed back to Dover succeeded discontent and disaffection. The general cry was that the kingdom was misgoverned, degraded, given up as a prey to worthless men and more worthless women, that our navy had been found unequal to a contest with Holland, that our independence had been bartered for the gold of France, that our consciences were in danger of being again subjected to the yoke of Rome. The people had become Roundheads; but the body which alone was authorised to speak in the name of the people was still a body of Cavaliers. It is true that the King occasionally found even that House of Commons unmanageable. From the first it had contained not a few true Englishmen; others had been introduced into it as vacancies were made by death; and even the majority, courtly as it was, could not but feel some sympathy with the nation. A country party grew up and became formidable. But that party constantly found its exertions frustrated by systematic corruption. That some members of the legislature received direct bribes was with good reason suspected, but could not be proved. That the patronage of the Crown was employed on an extensive scale for the purpose of influencing votes was matter of notoriety. A large proportion of those who gave away the public money in supplies received part of that money back in salaries; and thus was formed a mercenary band on which the Court might, in almost any extremity, confidently rely.

The servility of this Parliament had left a deep impression on the public mind. It was the general opinion that England ought to be protected against all risk of being ever again represented, during a long course of years, by men who had forfeited her confidence, and who were retained by a fee to vote against her wishes and interests. The subject was mentioned in the Convention; and some members wished to deal with it while the throne was still vacant. The cry for reform had ever since been becoming more and more importunate. The people, heavily pressed by taxes, were naturally disposed to regard those who lived on the taxes with little favour. The war, it was generally acknowledged, was just and necessary; and war could not be carried on without large expenditure. But the larger the expenditure which was required for the defence of the nation, the more important it was that nothing should be squandered. The immense gains of official men moved envy and indignation. Here a gentleman was paid to do nothing. There many gentlemen were paid to do what would be better done by one. The coach, the liveries, the lace cravat and diamond buckles of the placeman were naturally seen with an evil eye by those who rose up early and lay down late in order to furnish him with the means of indulging in splendour and luxury. Such abuses it was the especial business of a House of Commons to correct. What then had the existing House of Commons done in the way of correction? Absolutely nothing. In 1690, indeed, while the Civil List was settling, some sharp speeches had been made. In 1691, when the Ways and Means were under consideration, a resolution had been passed so absurdly framed that it had proved utterly abortive. The nuisance continued, and would continue while it was a source of profit to those whose duty was to abate it. Who could expect faithful and vigilant stewardship from stewards who had a direct interest in encouraging the waste which they were employed to check? The House swarmed with placemen of all kinds, Lords of the Treasury, Lords of the Admiralty, Commissioners of Customs, Commissioners of Excise, Commissioners of Prizes, Tellers, Auditors, Receivers, Paymasters, Officers of the Mint, Officers of the household, Colonels of regiments, Captains of men of war, Governors of forts. We send up to Westminster, it was said, one of our neighbours, an independent gentleman, in the full confidence that his feelings and interests are in perfect accordance with ours. We look to him to relieve us from every burden except those burdens without which the public service cannot be carried on, and which therefore, galling as they are, we patiently and resolutely bear. But before he has been a session in Parliament we learn that he is a Clerk of the Green Cloth or a Yeoman of the Removing Wardrobe, with a comfortable salary. Nay, we sometimes learn that he has obtained one of those places in the Exchequer of which the emoluments rise and fall with the taxes which we pay. It would be strange indeed if our interests were safe in the keeping of a man whose gains consist in a percentage on our losses. The evil would be greatly diminished if we had frequent opportunities of considering whether the powers of our agent ought to be renewed or revoked. But, as the law stands, it is not impossible that he may hold those powers twenty or thirty years. While he lives, and while either the King or the Queen lives, it is not likely that we shall ever again exercise our elective franchise, unless there should be a dispute between the Court and the Parliament. The more profuse and obsequious a Parliament is, the less likely it is to give offence to the Court. The worse our representatives, therefore, the longer we are likely to be cursed with them.

The outcry was loud. Odious nicknames were given to the Parliament. Sometimes it was the Officers' Parliament; sometimes it was the Standing Parliament, and was pronounced to be a greater nuisance than even a standing army.

Two specifics for the distempers of the State were strongly recommended, and divided the public favour. One was a law excluding placemen from the House of Commons. The other was a law limiting the duration of Parliaments to three years. In general the Tory reformers preferred a Place Bill, and the Whig reformers a Triennial Bill; but not a few zealous men of both parties were for trying both remedies.

Before Christmas a Place Bill was laid on the table of the Commons. That bill has been vehemently praised by writers who never saw it, and who merely guessed at what it contained. But no person who takes the trouble to study the original parchment, which, embrowned with the dust of a hundred and sixty years, reposes among the archives of the House of Lords, will find much matter for eulogy.

About the manner in which such a bill should have been framed there will, in our time, be little difference of opinion among enlightened Englishmen. They will agree in thinking that it would be most pernicious to open the House of Commons to all placemen, and not less pernicious to close that House against all placemen. To draw with precision the line between those who ought to be admitted and those who ought to be excluded would be a task requiring much time, thought and knowledge of details. But the general principles which ought to guide us are obvious. The multitude of subordinate functionaries ought to be excluded. A few functionaries who are at the head or near the head of the great departments of the administration ought to be admitted.

The subordinate functionaries ought to be excluded, because their admission would at once lower the character of Parliament and destroy the efficiency of every public office. They are now excluded, and the consequence is that the State possesses a valuable body of servants who remain unchanged while cabinet after cabinet is formed and dissolved, who instruct every successive minister in his duties, and with whom it is the most sacred point of honour to give true information, sincere advise, and strenuous assistance to their superior for the time being. To the experience, the ability and the fidelity of this class of men is to be attributed the ease and safety with which the direction of affairs has been many times, within our own memory, transferred from Tories to Whigs and from Whigs to Tories. But no such class would have existed if persons who received salaries from the Crown had been suffered to sit without restriction in the House of Commons. Those commissionerships, assistant secretaryships, chief clerkships, which are now held for life by persons who stand aloof from the strife of parties, would have been bestowed on members of Parliament who were serviceable to the government as voluble speakers or steady voters. As often as the ministry was changed, all this crowd of retainers would have been ejected from office, and would have been succeeded by another set of members of Parliament who would probably have been ejected in their turn before they had half learned their business. Servility and corruption in the legislature, ignorance and incapacity in all the departments of the executive administration, would have been the inevitable effects of such a system.

Still more noxious, if possible, would be the effects of a system under which all the servants of the Crown, without exception, should be excluded from the House of Commons. Aristotle has, in that treatise on government which is perhaps the most judicious and instructive of all his writings, left us a warning against a class of laws artfully framed to delude the vulgar, democratic in seeming, but oligarchic in effect. 374 (#x23_x_23_i258) Had he had an opportunity of studying the history of the English constitution, he might easily have enlarged his list of such laws. That men who are in the service and pay of the Crown ought not to sit in an assembly specially charged with the duty of guarding the rights and interests of the community against all aggression on the part of the Crown is a plausible and a popular doctrine. Yet it is certain that if those who, five generations ago, held that doctrine, had been able to mould the constitution according to their wishes, the effect would have been the depression of that branch of the legislature which springs from the people and is accountable to the people, and the ascendency of the monarchical and aristocratical elements of our polity. The government would have been entirely in patrician hands. The House of Lords, constantly drawing to itself the first abilities in the realm, would have become the most august of senates, while the House of Commons would have sunk almost to the rank of a vestry. From time to time undoubtedly men of commanding genius and of aspiring temper would have made their appearance among the representatives of the counties and boroughs. But every such man would have considered the elective chamber merely as a lobby through which he must pass to the hereditary chamber. The first object of his ambition would have been that coronet without which he could not be powerful in the state. As soon as he had shown that he could be a formidable enemy and a valuable friend to the government, he would have made haste to quit what would then have been in every sense the Lower House for what would then have been in every sense the Upper. The conflict between Walpole and Pulteney, the conflict between Pitt and Fox, would have been transferred from the popular to the aristocratic part of the legislature. On every great question, foreign, domestic or colonial, the debates of the nobles would have been impatiently expected and eagerly devoured. The report of the proceedings of an assembly containing no person empowered to speak in the name of the government, no person who had ever been in high political trust, would have been thrown aside with contempt. Even the control of the purse of the nation must have passed, not perhaps in form, but in substance, to that body in which would have been found every man who was qualified to bring forward a budget or explain an estimate. The country would have been governed by Peers; and the chief business of the Commons would have been to wrangle about bills for the inclosing of moors and the lighting of towns.

These considerations were altogether overlooked in 1692. Nobody thought of drawing a line between the few functionaries who ought to be allowed to sit in the House of Commons and the crowd of functionaries who ought to be shut out. The only line which the legislators of that day took pains to draw was between themselves and their successors. Their own interest they guarded with a care of which it seems strange that they should not have been ashamed. Every one of them was allowed to keep the places which he had got, and to get as many more places as he could before the next dissolution of Parliament, an event which might not happen for many years. But a member who should be chosen after the first of February 1693 was not to be permitted to accept any place whatever. 375 (#x23_x_23_i261)

In the House of Commons the bill passed through all its stages rapidly and without a single division. But in the Lords the contest was sharp and obstinate. Several amendments were proposed in committee; but all were rejected. The motion that the bill should pass was supported by Mulgrave in a lively and poignant speech, which has been preserved, and which proves that his reputation for eloquence was not unmerited. The Lords who took the other side did not, it should seem, venture to deny that there was an evil which required a remedy; but they maintained that the proposed remedy would only aggravate the evil. The patriotic representatives of the people had devised a reform which might perhaps benefit the next generation; but they had carefully reserved to themselves the privilege of plundering the present generation. If this bill passed, it was clear that, while the existing Parliament lasted, the number of placemen in the House of Commons would be little, if at all, diminished; and, if this bill passed, it was highly probable that the existing Parliament would last till both King William and Queen Mary were dead. For as, under this bill, Their Majesties would be able to exercise a much greater influence over the existing Parliament than over any future Parliament, they would naturally wish to put off a dissolution as long as possible. The complaint of the electors of England was that now, in 1692, they were unfairly represented. It was not redress, but mockery, to tell them that their children should be fairly represented in 1710 or 1720. The relief ought to be immediate; and the way to give immediate relief was to limit the duration of Parliaments, and to begin with that Parliament which, in the opinion of the country, had already held power too long.

The forces were so evenly balanced that a very slight accident might have turned the scale. When the question was put that the bill do pass, eighty-two peers were present. Of these forty-two were for the bill, and forty against it. Proxies were then called. There were only two proxies for the bill; there were seven against it; but of the seven three were questioned, and were with difficulty admitted. The result was that the bill was lost by three votes.

The majority appears to have been composed of moderate Whigs and moderate Tories. Twenty of the minority protested, and among them were the most violent and intolerant members of both parties, such as Warrington, who had narrowly escaped the block for conspiring against James, and Aylesbury, who afterwards narrowly escaped the block for conspiring against William. Marlborough, who, since his imprisonment, had gone all lengths in opposition to the government, not only put his own name to the protest, but made the Prince of Denmark sign what it was altogether beyond the faculties of His Royal Highness to comprehend. 376 (#x23_x_23_i264)

It is a remarkable circumstance that neither Caermarthen, the first in power as well as in abilities of the Tory ministers, nor Shrewsbury, the most distinguished of those Whigs who were then on bad terms with the Court, was present on this important occasion. Their absence was in all probability the effect of design; for both of them were in the House no long time before and no long time after the division.

A few days later Shrewsbury laid on the table of the Lord a bill for limiting the duration of Parliaments. By this bill it was provided that the Parliament then sitting should cease to exist on the first of January 1694, and that no future Parliament should last longer than three years.

Among the Lords there seems to have been almost perfect unanimity on this subject. William in vain endeavoured to induce those peers in whom he placed the greatest confidence to support his prerogative. Some of them thought the proposed change salutary; others hoped to quiet the public mind by a liberal concession; and others had held such language when they were opposing the Place Bill that they could not, without gross inconsistency, oppose the Triennial Bill. The whole House too bore a grudge to the other House, and had a pleasure in putting the other House in a most disagreeable dilemma. Burnet, Pembroke, nay, even Caermarthen, who was very little in the habit of siding with the people against the throne, supported Shrewsbury. "My Lord," said the King to Caermarthen, with bitter displeasure, "you will live to repent the part which you are taking in this matter." 377 (#x23_x_23_i267) The warning was disregarded; and the bill, having passed the Lords smoothly and rapidly, was carried with great solemnity by two judges to the Commons.

Of what took place in the Commons we have but very meagre accounts; but from those accounts it is clear that the Whigs, as a body, supported the bill, and that the opposition came chiefly from Tories. Old Titus, who had been a politician in the days of the Commonwealth, entertained the House with a speech in the style which had been fashionable in those days. Parliaments, he said, resembled the manna which God bestowed on the chosen people. They were excellent while they were fresh; but if kept too long they became noisome; and foul worms were engendered by the corruption of that which had been sweeter than honey. Littleton and other leading Whigs spoke on the same side. Seymour, Finch, and Tredenham, all stanch Tories, were vehement against the bill; and even Sir John Lowther on this point dissented from his friend and patron Caermarthen. Several Tory orators appealed to a feeling which was strong in the House, and which had, since the Revolution, prevented many laws from passing. Whatever, they said, comes from the Peers is to be received with suspicion; and the present bill is of such a nature that, even if it were in itself good, it ought to be at once rejected merely because it has been brought down from them. If their Lordships were to send us the most judicious of all money bills, should we not kick it to the door? Yet to send us a money bill would hardly be a grosser affront than to send us such a bill as this. They have taken an initiative which, by every rule of parliamentary courtesy, ought to have been left to us. They have sate in judgment on us, convicted us, condemned us to dissolution, and fixed the first of January for the execution. Are we to submit patiently to so degrading a sentence, a sentence too passed by men who have not so conducted themselves as to have acquired any right to censure others? Have they ever made any sacrifice of their own interest, of their own dignity, to the general welfare? Have not excellent bills been lost because we would not consent to insert in them clauses conferring new privileges on the nobility? And now that their Lordships are bent on obtaining popularity, do they propose to purchase it by relinquishing even the smallest of their own oppressive privileges? No; they offer to their country that which will cost them nothing, but which will cost us and will cost the Crown dear. In such circumstances it is our duty to repel the insult which has been offered to us, and, by doing so, to vindicate the lawful prerogative of the King.

Such topics as these were doubtless well qualified to inflame the passions of the House of Commons. The near prospect of a dissolution could not be very agreeable to a member whose election was likely to be contested. He must go through all the miseries of a canvass, must shake hands with crowds of freeholders or freemen, must ask after their wives and children, must hire conveyances for outvoters, must open alehouses, must provide mountains of beef, must set rivers of ale running, and might perhaps, after all the drudgery and all the expense, after being lampooned, hustled, pelted, find himself at the bottom of the poll, see his antagonists chaired, and sink half ruined into obscurity. All this evil he was now invited to bring on himself, and invited by men whose own seats in the legislature were permanent, who gave up neither dignity nor quiet, neither power nor money, but gained the praise of patriotism by forcing him to abdicate a high station, to undergo harassing labour and anxiety, to mortgage his cornfields and to hew down his woods. There was naturally much irritation, more probably than is indicated by the divisions. For the constituent bodies were generally delighted with the bill; and many members who disliked it were afraid to oppose it. The House yielded to the pressure of public opinion, but not without a pang and a struggle. The discussions in the committee seem to have been acrimonious. Such sharp words passed between Seymour and one of the Whig members that it was necessary to put the Speaker in the chair and the mace on the table for the purpose of restoring order. One amendment was made. The respite which the Lords had granted to the existing Parliament was extended from the first of January to Lady Day, in order that there might be full time for another session. The third reading was carried by two hundred votes to a hundred and sixty-one. The Lords agreed to the bill as amended; and nothing was wanting but the royal assent. Whether that assent would or would not be given was a question which remained in suspense till the last day of the session. 378 (#x23_x_23_i270)

One strange inconsistency in the conduct of the reformers of that generation deserves notice. It never occurred to any one of those who were zealous for the Triennial Bill that every argument which could be urged in favour of that bill was an argument against the rules which had been framed in old times for the purpose of keeping parliamentary deliberations and divisions strictly secret. It is quite natural that a government which withholds political privileges from the commonalty should withhold also political information. But nothing can be more irrational than to give power, and not to give the knowledge without which there is the greatest risk that power will be abused. What could be more absurd than to call constituent bodies frequently together that they might decide whether their representative had done his duty by them, and yet strictly to interdict them from learning, on trustworthy authority, what he had said or how he had voted? The absurdity however appears to have passed altogether unchallenged. It is highly probable that among the two hundred members of the House of Commons who voted for the third reading of the Triennial Bill there was not one who would have hesitated about sending to Newgate any person who had dared to publish a report of the debate on that bill, or a list of the Ayes and the Noes. The truth is that the secrecy of parliamentary debates, a secrecy which would now be thought a grievance more intolerable than the Shipmoney or the Star Chamber, was then inseparably associated, even in the most honest and intelligent minds, with constitutional freedom. A few old men still living could remember times when a gentleman who was known at Whitehall to have let fall a sharp word against a court favourite would have been brought before the Privy Council and sent to the Tower. Those times were gone, never to return. There was no longer any danger that the King would oppress the members of the legislature; and there was much danger that the members of the legislature might oppress the people. Nevertheless the words Privilege of Parliament, those words which the stern senators of the preceding generation had murmured when a tyrant filled their chamber with his guards, those words which a hundred thousand Londoners had shouted in his ears when he ventured for the last time within the walls of their city; still retained a magical influence over all who loved liberty. It was long before even the most enlightened men became sensible that the precautions which had been originally devised for the purpose of protecting patriots against the displeasure of the Court now served only to protect sycophants against the displeasure of the nation.