History of the war in the Peninsula and in the south of France from the year 1807 to the year 1814, vol. 5Napier, William Francis Patrick
History
History of the war in the Peninsula and in the south of France from the year 1807 to the year 1814, vol. 5
Napier, William Francis Patrick
Peninsular War, 1807-1814
These matters were sufficiently vexatious and alarming, but what made
him tremble, was, the course, which the misconduct of the Portuguese
government, and the incapacity of the English cabinet, had forced
upon the native furnishers of the supplies. Those persons, coming
in the winter to Lisbon to have their bills on the military chest
paid, could get no money, and in their distress had sold the bills to
speculators, the Portuguese holders, at a discount of fifteen, the
Spanish holders at a discount of forty in the hundred. The credit
of the chest immediately fell, prices rose in proportion, and as no
military enterprize could carry the army beyond the flight of this
harpy, and no revenues could satisfy its craving, the contest must
have ceased, if Mr. Stuart had not found a momentary and partial
remedy, by publicly guaranteeing the payment of the bills and
granting interest until they could be taken up. The expense was thus
augmented, but the increase fell far short of the enhanced cost of
the supplies which had already resulted even from this restricted
practice of the bill-holders, and of two evils the least was chosen.
It may seem strange that such transactions should belong to the
history of the military operations in the Peninsula, that it should
be the general’s instead of the minister’s task, to encounter such
evils, and to find the remedy. Such however was the nature of the
war, and no adequate notion of lord Wellington’s vigorous capacity
and Herculean labours can be formed, without an intimate knowledge of
the financial and political difficulties which oppressed him, and of
which this work has necessarily only given an outline.
Public-domain text, read in full here on John Shaqi.
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