Chronicles and characters of the stock exchangeFrancis, John, of the Bank of England
History
Chronicles and characters of the stock exchange
Francis, John, of the Bank of England
Speculation; Stock Exchange (London, England)
But a yet more dangerous era awaited the land. The navy, which had
saved us from invasion, mutinied; the gold of the country followed
her subsidies; the Bank of England ceased to pay her notes in specie;
the power of France increased; Austria only remained to check
the republic on the Continent; and Lodi witnessed a defeat which
paralyzed the Imperial power. The passage of the Alps followed; and,
within thirty miles of his capital, humiliating terms were dictated
to the Emperor of Austria.
England now stood alone against France. An invasion was threatened;
but it stirred a spirit of resistance which will long remain
a memorable passage in English history. Every village had its
volunteers, every corporation its company; and, whatever their
defects may have been in the eyes of military science, there was
scarcely a man who would not have marched to certain death to
preserve the freedom inherited from his fathers. Song and sermon
alike inspirited them; night after night watch-fires were prepared on
the lonely hills of the country; and the slightest sound or symptom
of invasion would have called forth its devoted sons and servants.
These things are greatly to the praise of our countrymen; and the
following list of subsidies, up to 1801, will prove it was no trifle
with which they contended, when they strained every power to meet the
financial difficulties of the time:—
Prussia 1794 £1,223,891 10_s._ 6_d._
Sardinia, 1793 to 1796 500,000 0 0
Emperor, 1795 and 1796 6,220,000 0 0
Ditto 1797 700,000 0 0
Portugal 1797 247,205 0 0
Ditto 1798 120,013 13 0
Russia 1799 825,000 0 0
Emperor and Elector of Bavaria 500,000 0 0
Emperor 1,066,666 13 4
Russia 545,494 0 0
Bavaria 501,017 6 0
Emperor 150,000 0 0
——————————
£12,599,288 2 10
Public-domain text, read in full here on John Shaqi.
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