Caroline the Illustrious, vol. 1 (of 2) : $b Queen-Consort of George II. and sometime Queen-Regent; a study of her life and timeWilkins, W. H. (William Henry)
History
Caroline the Illustrious, vol. 1 (of 2) : $b Queen-Consort of George II. and sometime Queen-Regent; a study of her life and time
Wilkins, W. H. (William Henry)
Caroline, Queen, consort of George II, King of Great Britain, 1683-1737
The Prime Minister was happy, perhaps, in the moment of his death,
for when the committee reported, a tale of infamous corruption was
disclosed. It was found that no less than £500,000 fictitious South Sea
stock had been created, in order that the profits might be used by the
directors to facilitate the passing of the Bill through Parliament.
The Duchess of Kendal, it was discovered, had received £10,000, Madame
Platen another £10,000, and two “nieces,” who were really illegitimate
daughters of the King, had also received substantial sums. Against
them no steps could be taken. But among the members of the Government
who were accused of similar peculations were the younger Craggs,
Secretary of State, his father, the Postmaster-General, Charles
Stanhope, Aislabie and Sunderland. The very day this report was read
to Parliament the younger Craggs died; he was ill with small-pox,
but his illness was no doubt aggravated by the anxiety of his mind.
A few weeks later his father poisoned himself, unable to face the
accusations hurled against him. Charles Stanhope was acquitted by the
narrow majority of three. Aislabie was convicted; he was expelled
from Parliament, and sent to the Tower, and the greater part of his
property forfeited. There were bonfires in the city to celebrate
the event. Sunderland was declared to be innocent, but the popular
ferment against him was so strong that he was unable to continue at
the head of the Treasury, and resigned. Some months later he died
so suddenly that poison was rumoured, but the surgeons, after a
post-mortem examination, declared that it was heart disease. The South
Sea directors were condemned in a body, disabled from ever holding any
place in Parliament, and their combined estates, amounting to above
£2,000,000, were confiscated for the relief of the South Sea sufferers.
They were certainly punished with great severity; some of them at any
rate were innocent of the grosser charges brought against them, but
public opinion thought that they were treated far too leniently. The
“Cannibals of ’Change Alley,” as they were called, were, if we may
believe the pamphlets of the day, fit only for the common hangman.
Public-domain text, read in full here on John Shaqi.
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