Lady Mary Wortley Montague, Her Life and Letters (1689-1762)Melville, Lewis
History
Lady Mary Wortley Montague, Her Life and Letters (1689-1762)
Melville, Lewis
Montagu, Mary Wortley, Lady 1689-1762; Montagu, Mary Wortley, Lady 1689-1762 -- Correspondence
When Lady Mary was in Paris, Rémond was introduced to her by the Abbé
Conti. He had seen a letter or two addressed by her to the Abbé, and
expressed himself with enthusiasm of her brilliance as a correspondent.
Presently he came to England, and sought out Lady Mary, who was no more
immune from flattery than most folk of either sex. How far the intimacy
developed from the platonic to the amorous it is impossible to say. That
Rémond made love to her there can be little doubt. Sir Leslie Stephen
holds the view that she did not encourage his passion. Anyhow, it is
beyond question that she wrote him imprudent letters, which he was
prudent enough to keep.
Lady Mary basked in the admiration of Rémond, and thought to reward him
for his intelligence, at no cost to herself, by putting him on to "a
good thing." Also, getting a little fearsome of his very marked
attentions, or perhaps it was only wearying of them, she thought, as she
confessed to her sister, the Countess of Mar, it would be the more easy
to rid herself of this somewhat turbulent lover.
At this time the famous "boom" known as the South Sea Bubble was at the
height of its brief career. The South Sea Company had taken over the
National Debt, on terms, and its stock, carefully manipulated, rose by
leaps and bounds. In 1714 the stock stood at 85. After the defeat of the
rebellion of 1715, it was quoted at prices varying from par to 106. In
the autumn of 1719, when rumours of its great scheme were spread about
the town, it rose to 126. Early in the following year it could not be
purchased for less than 400. It fluctuated wildly, going up and down
hundreds of points. On June 2, 1720, it went up in the morning to 890,
in the afternoon fell to 640; and many who were speculating in
differences were utterly ruined. Later in the day it recovered, though
only to 770. Ultimately it rose to 1,000. Of course the prices were
fictitious, but everyone in society tried their luck, and while some
came out of it with a fortune, the majority lost practically every penny
they had. The directors, most of whom were guilty of fraud, made vast
sums of money. That astute financier, Robert Walpole, speculated on a
vast scale, sold out before the slump, and realised a fortune more than
sufficient to enable him to rebuild Houghton and to gather together his
famous collection of pictures. On the other hand the Duke of Portland,
who held on too long, was so hard hit that he had to solicit the post of
Captain-General of Jamaica.
Rémond held some South Sea stock, and, acting on Lady Mary's advice,
sold out at a considerable profit. Not content with his gains, however,
he insisted, just before his departure for France, on leaving in Lady
Mary's hands £900 for investment as opportunity should arise.
Reluctantly Lady Mary consented--she would probably have agreed almost
to anything, so anxious was she that Rémond should leave the country.
Public-domain text, read in full here on John Shaqi.
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