The Bank, the East India Company, and in general the moneyed interest,
had certainly nothing to apprehend like what they feared, or affected to
fear, from the Tories—an entire subversion of their property. Multitudes
of our own party would have been wounded by such a blow. The intention
of those who were the warmest seemed to me to go no farther than
restraining their influence on the Legislature, and on matters of State;
and finding at a proper season means to make them contribute to the
support and ease of a government under which they enjoyed advantages so
much greater than the rest of their fellow-subjects. The mischievous
consequence which had been foreseen and foretold too, at the
establishment of those corporations, appeared visibly. The country
gentlemen were vexed, put to great expenses and even baffled by them in
their elections; and among the members of every parliament numbers were
immediately or indirectly under their influence. The Bank had been
extravagant enough to pull off the mask; and, when the Queen seemed to
intend a change in her ministry, they had deputed some of their members
to represent against it. But that which touched sensibly even those who
were but little affected by other considerations, was the prodigious
inequality between the condition of the moneyed men and of the rest of
the nation. The proprietor of the land, and the merchant who brought
riches home by the returns of foreign trade, had during two wars borne
the whole immense load of the national expenses; whilst the lender of
money, who added nothing to the common stock, throve by the public
calamity, and contributed not a mite to the public charge.
As to the Allies, I saw no difference of opinion among all those who came
to the head of affairs at this time. Such of the Tories as were in the
system above mentioned, such of them as deserted soon after from us, and
such of the Whigs as had upon this occasion deserted to us, seemed
equally convinced of the unreasonableness, and even of the impossibility,
of continuing the war on the same disproportionate footing. Their
universal sense was, that we had taken, except the part of the States
General, the whole burden of the war upon us, and even a proportion of
this; while the entire advantage was to accrue to others: that this had
appeared very grossly in 1709, and 1710, when preliminaries were insisted
upon, which contained all that the Allies, giving the greatest loose to
their wishes, could desire, and little or nothing on the behalf of Great
Britain: that the war, which had been begun for the security of the
Allies, was continued for their grandeur: that the ends proposed, when we
engaged in it, might have been answered long before, and therefore that
the first favourable occasion ought to be seized of making peace; which
we thought to be the interest of our country, and which appeared to all
mankind, as well as to us, to be that of our party.
Public-domain text, read in full here on John Shaqi.
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