ONE:The unnatural state of things induced by the war had now brought about a great change in our currency. As we could manage to get in our goods to the Continent by one opening or another, but could not get the produce of the Continent in return, it would have appeared that we must be paid in cash, and that the balance of specie must be in our favour; but this was not the case. By our enormous payments to our troops in Spain, Portugal, and Sicily, as well as in the East and West Indies, and by our heavy subsidies, gold had flowed out of the country so steadily that there appeared very little left in it, and bank paper had taken its place. On the Continent, impoverished as they were, the people tenaciously clung to their gold, and Buonaparte alone could draw it from them in taxes. He always took a heavy military chest with him on his expeditions, and his officers also carried the money necessary for themselves in their belts, or otherwise about their immediate persons. The gold being enormously diminished in quantity in England, was carefully hoarded on all hands, thus again increasing the scarcity, and raising the value of it. The price of bullion had risen from twenty to thirty per cent., and here was a further strong temptation to hoard or send guineas to the melting-pot. This state of things led a certain class of political economists to call for a repeal of the Act for suspension of cash payments, and Francis Horner obtained a committee of inquiry into the causes of the decrease of gold and the increase of paper: and this committee came to the conclusion that the true cause of the evil lay in the excess of paper, and that the way to restrain it would be to allow the demand for gold at the Bank. But the truth was that the cause of the evil was not the excess of paper, but the enormous diminution of gold; and to have opened a legal demand for gold which could not be had would only have produced a panic, and a complete and horrible assassination of all credit and all business. But there were clearer-sighted men in Parliament, who declared that, though bullion had risen in price, bank-notes would still procure twenty shillings' worth of goods in the market, and that they were not, therefore, really depreciated in value. That was true, but guineas had, notwithstanding, risen to a value of five- or six-and-twenty shillings, and might be sold for that. Gold had risen, but paper had not fallen; and gold could not take the place of paper, because it did not, to any great extent, exist in the country; if it had, paper must have fallen ruinously. Mr. Vansittart and his party, therefore, moved resolutions that the resumption of cash payments being already provided for six months after the conclusion of peace, was an arrangement which answered all purposes, and ought not to be disturbed; that this would keep all real excess of paper in check, and leave gold to resume its circulation when, by the natural influence of peace, it flowed again into the country. These were, accordingly, carried.
TWO:Orders soon came from the Government for the liberation of the prisoners. After some consultation with their friends, it was resolved that there should be a public procession from the prison in the morning. Mr. O'Connell, however, left that evening, and proceeded on foot to his house in Merrion Square. Before he had reached the square, the tidings spread abroad that he was out, and crowds rapidly assembled from all directions. The people leaped and danced about him, while their acclamations rent the air. When he placed his foot upon the step to ascend to his own door, the exulting shouts of some 10,000 or 15,000 people were almost deafening. Appearing on the balcony of his house, where he had often stood before, to address his followers, they could scarcely be got to keep silence while he spoke. The procession next day was, in point of magnitude, quite in keeping with the other "monster" proceedings. Twelve o'clock was the time appointed to start from the prison, and at that hour the first part of the procession arrived. Its length may be inferred from the fact that it was not until two o'clock that the triumphal car reached the prison gate. During those two hours thousands upon thousands defiled before it in one unbroken line of men, perfect order being kept, without the aid of a single policeman, and the marching mass being broken into sections only by the bands of music, preceding the flags or carriages of the different trades, which numbered about thirty. The bands were all dressed in fancy uniforms, bearing bright coloursblue, pink, and greenwith banners of the most gorgeous description. There was such a demand for carriages and vehicles of all sorts, that Dublin alone could not meet it, and carriages were obtained from Bray, and various other places around the metropolis. The procession was composed of Repeal wardens, members of the Repeal Association, the Lord Mayor, aldermen, and town council, personal friends and political admirers of O'Connell.MRS. ARABELLA HUNT SINGING TO QUEEN MARY. (See p. 155.)
FORE:At the ensuing assizes in August, those rioters who had been apprehended were tried; some at Worcester for participating in the outrages, but there only one prisoner was committed. Of those tried at Warwick, on the 25th of the month, four received sentence of death. Of these five rioters condemned, only three actually suffered, while two received his Majesty's gracious pardon. The victims of this riot thought the penalty much too trivial! Such, indeed, was the perverted state of public feeling in and around Birmingham, that[386] the sufferers were regarded as men seeking the lives of innocent men who had only shown their loyalty to Church and King. They were declared to be no better than selfish murderers. Whilst they attended at the assizes, their lives scarcely seemed safe. They were publicly abused in the streets, or menaced and cursed wherever they appeared. In the very assize-hall there were persons who, on seeing Priestley, cried, "Damn him! there is the cause of all the mischief!" He was followed in the streets, especially by an attorney, who cursed him furiously, and wished he had been burned with his house and books. The favourite toast of the Church-and-King party was, "May every Revolutionary dinner be followed by a hot supper!" The damages awarded to the sufferers were, in most cases, ludicrously inadequate. Hutton was a heavy loser; Priestley received three thousand and ninety-eight pounds, but he complained that this was two thousand pounds short of the extent of his loss. But this deficiency was made up by sympathising friends.
Nunc at viverra risus. In euismod quam ac dictum varius. Nunc at viverra risus.
Nunc at viverra risus. In euismod quam ac dictum varius. Nunc at viverra risus. In euismod quam ac dictum varius. Nunc at viverra risus. In euismod quam ac dictum varius. Nunc at viverra risus.