the very heart of the fortress, compelled Boufflers to surrender. Four days later he was allowed to march out with all the honours of war. NOTE. The capture of Namur was the finest thing that William ever did in war. 3. Treaty of Ryswick, and end of the War, 1697. so far Louis' efforts to conquer the Netherlands were ineffectual, and his resources so terribly exhausted, that he deemed it expedient to treat for peace. The public misery brought on by the war was extreme. "The country,” wrote Fénelon to Louis, "is become one vast hospital." William was equally anxious to bring to a close a war, which he had found to be most expensive, and in the main unsuccessful. After a long series of negotiations a treaty was concluded at Ryswick between England, France, Holland, and Spain, the principal terms of which were (1) That Louis should surrender all that he had gained since 1678, except the town of Strasburg. (2) That he should recognize William as the lawful king of England, and Anne as his successor. (3) That he should cease to aid James. NOTE.-The importance of this treaty cannot be over-estimated. It was not a treaty which England could be proud of, but it prevented a foreign king from placing a sovereign on the English throne, whom the people of England did not want. SECTION V.-HOME AFFAIRS. 1. Treachery of William's Ministers. Almost all the leading statesmen of the time were in secret correspondence with the exiled James. The chief reasons for this double-dealing were― (1) William had showed his predilections for foreigners. He had filled all the lucrative posts at court with Dutchmen, promoted them over English officers in the army, and even raised them to peerages. This was perhaps only natural, for, as he himself said, "the English, who had betrayed their own king, could not be expected to be faithful to a foreigner." Consequently, he looked upon the English with distrust, and reserved his confidence for his Dutch friends. (2) Many men in high position thought that William's government would not last any length of time, and that he could never oppose successfully a powerful king like Louis, who had (a) He promised James that he would induce Parliament to petition William to dismiss all his foreign troops, and if William refused to do so, he could easily obtain the support of the English army, declare for James and secure his restoration. (6) Further, by means of the influence which his wife exercised over the Princess Anne, he had enlisted the sympathy of that Princess on his side. William received the news of Marlborough's treachery with an outburst of anger. "Were I and my Lord Marlborough private persons," he exclaimed, "the sword would have to settle between us." As it was, he stripped Marlborough of all his offices, committed him to the Tower, and dismissed his wife from court. 2. Great Financial Events. (1) The National Debt is commenced, 1693. Its origin. William was constantly in want of money to carry on his expensive wars. In 1693 alone the expenditure on the war had been upwards of £3,000,000, and it was impossible to increase the taxation without causing great public discontent. It remained for the genius of Montague to devise a scheme to relieve the Government of its financial difficulties. His plan was to raise a loan on the "security of the nation," and for this reason it has been called the National Debt. Unlike other debts, the interest only is paid. At William's death it had increased to £16,000,000. (2) Bank of England is established, 1694. During the last two reigns, banking with private goldsmiths had been very much the fashion, but the great fault of such a system was its insecurity. The plan of a national bank had been suggested some years previously by a Scotchman named Paterson, and Montague, adopting his scheme, borrowed upwards of a million, and formed the lenders into a company, which was to make loans to the Government on the security of a promise made by Parliament, that interest should be paid on the money so lent, until the principal was returned. This interest was to be secured on the taxes. "So great had been the growth of the national wealth in the last few years, that in ten days the list of subscribers was full” (Green). 66 NOTE. This bank has been a great financial success, and its security has become a proverb, Safe as the Bank of England." Its establishment clearly proved that the mercantile classes placed the greatest confidence in the stability of William's government. (3) The New Coinage. Before this time, coins were made with smooth edges, and clipping had been carried on to such an extent, that almost all gold and silver coins were so reduced in size as to be worth not more than half their nominal value. It was therefore considered necessary to issue a new coinage with "milled" or serrated" edges, so as to render clipping impossible without being detected. The scheme was carried out most successfully by Somers, Montague, John Locke, the philosopher, and Sir Isaac Newton, the mathematician, and in less than a year the currency of England became the best in Europe. 3. The Whig Junto, 1697. William had tried the plan of forming an administration from statesmen of both parties, Whigs and Tories, but the scheme did not work well. The political opinions of the two parties were so much at variance, that it was found impossible for them to work harmoniously. Acting on the advice of Sunderland, William gradually discharged. all his Tory Ministers, and filled their posts with Whigs, who were at that time in the majority in the Lower House, and the year 1697 is made memorable by the establishment of the first united Ministry in English history. NOTE 1. This united Whig Ministry, afterwards known as the Junto, "because of their close union in thought and action,” was led by four remarkable men : (1) Edward Russell, the hero of La Hogue, and the most (2) John Somers, the greatest constitutional lawyer of his time. NOTE 2.-The formation of this "Junto" has been recognized as a Government is carried on, not by the king, but by a Cabinet "representing the will of the majority of the House of Commons and supported by that majority." 4. The Triennial Bill is passed, 1694. The House of Commons being under the impression that if the king got a Parliament subservient to his wishes, he would never dissolve it, brought in and passed the Triennial Bill. It enacted, that no Parliament should last longer than three years, and that three years should not pass without a Parliament. 5. Death of Queen Mary, 1694. The queen had sickened of small-pox, which in a few days proved fatal. William felt her death the more keenly, because it came so unexpectedly, and for some time he was perfectly prostrated. "I was the happiest man on earth," said he to one of the bishops, "but now I am the most wretched. She had no fault, and no one but myself could know her goodness." NOTE.-Mary's character was in some respects the very opposite of William's. Her frank and cheerful manner, her sweetness of temper, her "simple piety and purity of life, her munificent charities," won the admiration of all, and did more to make her husband's throne secure than all his valour and wisdom. 6. Liberty of the Press established, 1695. Ever since the Restoration a series of Acts had been passed from time to time, prohibiting the printing of any writings, unless they had first been read and approved of by the king's licenser. The object of these Acts was, to forbid the publication of such literature as was likely to be detrimental to religion or morality, or likely to spread seditious opinions. In 1695 the Commons refused to renew this Act, and after this, Englishmen were at liberty to print or publish anything they pleased. Persons guilty of libel were of course still amenable to the law like any other criminal offenders. 7. The Assassination Plot, 1696. Mary's death made William very unpopular, and even exposed him to assassination. The Jacobite leaders imagined that if his life was taken, the only effectual hindrance to the restoration of the exiled king would be removed. Accordingly they formed many plots to murder him, the most formidable of which is that known as the Assassination Plot. It embraced two schemes : (1) There was to be a general rising of the Jacobites in England, which was to be supported by an invasion from France. This part of the plot was entrusted to the Duke of Berwick, a natural son of James II. (2) William was to be assassinated. About forty Jacobite desperadoes, headed by Sir George Barclay, a Scotch refugee, undertook to carry out this part of the scheme. Their plan was, to attack and kill the king in a dark lane near Turnham Green, while he was on his way from hunting in Richmond Forest. But the plot was revealed just in time by a man named Pendergrass, and the conspirators captured. James had collected a large body of French troops at Calais ready to invade England, but after waiting in vain for the beacon light, which was to announce the death of William, he returned to St. Germains covered with confusion. Results. The discovery of this plot was followed by a grand outburst of loyalty. (1) The greater part of the Lords and Commons formed an association (like that which was formed for the protection of Queen Elizabeth in 1584), and signed a document binding themselves to defend William, and in case of his murder to take signal vengeance on his assassins. So great was the indignation roused by this infamous plot, that hundreds of thousands throughout the country joined the association, and its badge, a red ribbon," was to be seen displayed on almost every hat. (2) The Habeas Corpus was suspended. (3) Of the conspirators, Charnock, King, Sir John Friend, and Sir William Perkins were brought to trial, condemned, and executed. Barclay escaped. (4) Sir John Fenwick's case. The interest connected with Sir John Fenwick's case arises mainly out of its relation to the new Statute of Treason. By the new law, two witnesses were required, and one of these named Goodman had, by the assistance of Lady Fenwick, absconded, and the trial could not be proceeded with. The Whigs, however, were not to be baffled, and so they brought in and passed a Bill of Attainder, declaring "that Sir John Fenwick was convicted and attainted of high treason, and should suffer the penalty of death." William gave his consent to the Bill, and Fenwick was executed. |