The History of England, from the Accession of James II — Volume 1Macaulay, Thomas Babington Macaulay, Baron
History
The History of England, from the Accession of James II — Volume 1
Macaulay, Thomas Babington Macaulay, Baron
Great Britain -- History -- James II, 1685-1688; Great Britain -- History -- William and Mary, 1689-1702
The first object of Charles was to obtain from the Commons supplies
which might be employed in executing the secret treaty. The Cabal,
holding power at a time when our government was in a state of
transition, united in itself two different kinds of vices belonging
to two different ages and to two different systems. As those five evil
counsellors were among the last English statesmen who seriously thought
of destroying the Parliament, so they were the first English statesmen
who attempted extensively to corrupt it. We find in their policy at once
the latest trace of the Thorough of Strafford, and the earliest trace of
that methodical bribery which was afterwards practiced by Walpole. They
soon perceived, however, that, though the House of Commons was chiefly
composed of Cavaliers, and though places and French gold had been
lavished on the members, there was no chance that even the least odious
parts of the scheme arranged at Dover would be supported by a majority.
It was necessary to have recourse to fraud. The King professed great
zeal for the principles of the Triple Alliance, and pretended that, in
order to hold the ambition of France in check, it would be necessary to
augment the fleet. The Commons fell into the snare, and voted a grant of
eight hundred thousand pounds. The Parliament was instantly prorogued;
and the court, thus emancipated from control, proceeded to the execution
of the great design.
The financial difficulties however were serious. A war with Holland
could be carried on only at enormous cost. The ordinary revenue was not
more than sufficient to support the government in time of peace. The
eight hundred thousand pounds out of which the Commons had just been
tricked would not defray the naval and military charge of a single year
of hostilities. After the terrible lesson given by the Long Parliament,
even the Cabal did not venture to recommend benevolences or shipmoney.
In this perplexity Ashley and Clifford proposed a flagitious breach of
public faith. The goldsmiths of London were then not only dealers in the
precious metals, but also bankers, and were in the habit of advancing
large sums of money to the government. In return for these advances they
received assignments on the revenue, and were repaid with interest as
the taxes came in. About thirteen hundred thousand pounds had been
in this way intrusted to the honour of the state. On a sudden it was
announced that it was not convenient to pay the principal, and that the
lenders must content themselves with interest. They were consequently
unable to meet their own engagements. The Exchange was in an uproar:
several great mercantile houses broke; and dismay and distress
spread through all society. Meanwhile rapid strides were made towards
despotism. Proclamations, dispensing with Acts of Parliament, or
enjoining what only Parliament could lawfully enjoin, appeared in rapid
succession. Of these edicts the most important was the Declaration of
Indulgence.
Public-domain text, read in full here on John Shaqi.
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