A history of the Peninsular War, Vol. 6, September 1, 1812-August 5, 1813 : $b The siege of Burgos, the retreat from Burgos, the campaign of Vittoria, the battles of the PyreneesOman, Charles
History
A history of the Peninsular War, Vol. 6, September 1, 1812-August 5, 1813 : $b The siege of Burgos, the retreat from Burgos, the campaign of Vittoria, the battles of the Pyrenees
Oman, Charles
Peninsular War, 1807-1814
There were plenty of small administrative problems to be settled during
the winter-rest of 1812-13, which worried Wellington but need not
worry the modern student of history, being in themselves trivial. It
is well, however, to note that in the spring of 1813 his old complaint
about the impossibility of extracting hard cash from the Government,
instead of the bank-notes and bills which the Spanish and Portuguese
peasantry refused to regard as real money, came practically to an
end. By heroic exertions the Chancellor of the Exchequer was scraping
together gold enough to send £100,000 a month to Lisbon. A large sum
in pagodas had been brought all the way from Madras, and the Mint was
busy all the year in melting them down and recoining them as guineas.
It was the first time since the ‘Suspension of Cash Payments Act’ of
1797 that any gold of this size had been struck and issued. As the
whole output went straight to the Peninsula for the Army, the new coin
was generally known as the ‘military guinea.’ Considering that gold was
so much sought for in England at the time that a guinea could command
27_s._ in paper, it was no small feat to procure the Indian gold, and
to see that the much wanted commodity went abroad without diminution.
Wellington could have done with much more gold--six times as much he
once observed--but at least he was no longer in the state of absolute
bankruptcy in which he had opened the campaign of the preceding
year--nor obliged to depend for a few thousand dollars on profits to
be made on Egyptian corn which he sold in Lisbon, or impositions of
doubtful legality made upon speculators in Commissariat Bonds. The
Portuguese troops had their pay still in arrears--but that was not
Wellington’s responsibility. The muleteers of the transport train
were suffering from being paid in _vales_, which they sold to Lisbon
sharks, rather than in the _cruzados novos_ or Pillar Dollars which
they craved, and sometimes deserted in not unnatural disgust. But, at
the worst, it could not be denied that finance looked a good deal more
promising than it had in 1812[354].
Public-domain text, read in full here on John Shaqi.
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