The spirit of the Jacobites had been cowed by the events of 1715. It revived in 1721. The failure of the South Sea project, the panic in the money market, the downfall of great commercial houses, the distress from which no part of the kingdom was exempt, had produced general discontent. It seemed not improbable that at such a moment an insurrection might be successful. An insurrection was planned. The streets of London were to be barricaded; the Tower and the Bank were to be surprised; King George, his family, and his chief captains and councillors, were to be arrested; and King James was to be proclaimed. The design became known to the Duke of Orleans, regent of France, who was on terms of friendship with the House of Hanover. He put the English government on its guard. Some of the chief malecontents were committed to prison; and among them was Atterbury. No bishop of the Church of England had been taken into custody since that memorable day when the applauses and prayers of all London had followed the seven bishops to the gate of the Tower. The Opposition entertained some hope that it might be possible to excite among the people an enthusiasm resembling that of their fathers, who rushed into the waters of the Thames to implore the blessing of Sancroft. Pictures of the heroic confessor in his cell were exhibited at the shop windows. Verses in his praise were sung about the streets. The restraints by which he was prevented from communicating with his accomplices were represented as cruelties worthy of the dungeons of the Inquisition. Strong appeals were made to the priesthood. Would they tamely permit so gross an insult to be offered to their cloth? Would they suffer the ablest, the most eloquent member of their profession, the man who had so often stood up for their rights against the civil power, to be treated like the vilest of mankind? There was considerable excitement; but it was allayed by a temperate and artful letter to the clergy, the work, in all probability, of Bishop Gibson, who stood high in the favour of Walpole, and shortly after became minister for ecclesiastical affairs.