THREE:To any one viewing the situation of Buonaparte at this moment, it can appear nothing but an act of madness to invade Russia. The British, in Spain, were now defeating his best generals, and this would at an earlier period have caused him to hasten to that country and endeavour to settle the war in person. It is remarkable that he was not desirous to cope with Wellington himself, all his ablest generals having failed. But to leave such an enemy in his rear when he proceeded to the North, impresses us with the idea that his enormous success had now turned his head, and that the term of his career had been reached. Besides Spain, too, there were Prussia and Austria, with whom it was only politic to enter into some terms of security; for assuredly, if his arms suffered a reverse in Russia, all these would rise and join his enemies.The chief seats of the hosiery manufacture are in the counties of Derby, Nottingham, and Leicester. The number of stocking-frames in England in 1821 was under 30,000, showing an increase in thirty years of only 10,000. Mr. Felkin gives an estimate for 1833, which states that there were 33,000 frames in England, producing 3,510,000 dozen stockings a year, and consuming 8,137,000 lbs. of cotton yarn, worsted, and silk, valued at 814,000; the wages for making them amounting to 948,000, and for finishing, 229,000; the total value being little short of 2,000,000 sterling, and the total value of the materials 560,000. The total number of persons employed in the making of stockings was 73,000. The total of fixed capital engaged in the manufacture was 385,000, and of floating capital 1,050,000. The quantity of cotton hosiery goods made in 1833 was estimated by Mr. Felkin to have increased more than fifty per cent. in the preceding twenty years.
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THREE:Walpole did not wait for a like humiliation.[38] The next morning he waited on the king, and tendered his resignation of his places as First Lord of the Treasury and Chancellor of the Exchequer. The king, if he could be judged by his conduct, had formed no resolution of parting with Walpole. He handed again to him the seals, cordially entreating him to take them back, speaking to him in the kindest manner, and appearing as though he would take no refusal. But Walpole remained steady to his purpose, and, accordingly, his friends Methuen, Pulteney, Lord Orford, and the Duke of Devonshire, resigned a few days afterwards. Stanhope was then appointed First Lord of the Treasury and Chancellor of the Exchequer; Sunderland and Joseph Addison were made Secretaries of State; Craggs, Secretary at War; Lord Berkeley, First Lord of the Admiralty; the Duke of Newcastle, Lord Chamberlain; the Duke of Bolton, Lord-Lieutenant of Ireland; Lord Cowper and the Duke of Kingston retaining their old places.This proviso, however, by no means affected the treaty with America. This secret treaty was made binding and effectual so far as America and England were concerned. The first article acknowledged fully the independence of the United States. The second fixed their boundaries, much to the satisfaction of the Americans; and liberty was secured to them to fish on the banks of Newfoundland, in the Gulf of St. Lawrence, and wherever they had been accustomed to fish, but not to dry the fish on any of the king's settled dominions in America. By the fourth, fifth, and sixth articles it was engaged for Congress that it should earnestly recommend to the several Legislatures to provide for the restitution of all estates belonging to real British subjects who had not borne arms against the Americans. All other persons were to be allowed to go to any of the States and remain there for the settlement of their affairs. Congress also engaged to recommend the restitution of confiscated estates on the repayment of the sums for which they had been sold; and no impediments were to be put in the way of recovering real debts. All further confiscations and prosecutions were to cease. By the seventh and eighth articles the King of England engaged to withdraw his fleets and armies without causing any destruction of property, or carrying away any negro slaves. By these articles, the navigation of the Mississippi, from its source to the ocean, was to remain for ever free and open to both parties. If West Florida happened to be in the possession of Britain at the termination of a general peace, a secret article determined its boundaries.
THREE:Parliament was suddenly dissolved by the All the Talents Ministry, in the hope of acquiring a better majority, but this hope was not brilliantly realised. The new Parliament assembled on the 19th of December, and, as all now saw that war must go on, both Houses prepared themselves for large votes of supply. According to Windham's statement, we had 125,631 regulars in the army, of whom 79,158 were employed in defending our West India Islands, 25,000 in India, and upwards of 21,000 foreigners in our pay. Besides this, for home defence we had 94,000 militia and fencibles, and 200,000 volunteers; so that altogether we had 419,000 men under arms. It was, therefore, contended, and with reason, that as we had so deeply engaged ourselves in fighting for our Allies on the Continent, with such a force we might have sent 20,000, with good effect, to unite with Alexander of Russia against Buonaparte, and not have let him be repulsed for want of both men and money. This, indeed, was the disgrace of All the Talents, that they put the country to the expense of an enormous war establishment, and did no real service with it. The supplies, however, were freely voted. There were granted, for the navy, 17,400,337; for the regular army, 11,305,387; for militia, fencibles, volunteers, etc., 4,203,327; ordnance, 3,321,216. The number of sailors, including 32,000 marines, was fixed at 130,000.