Thereupon the Scotch authorities sent a body of soldiers to Glencoe, who were hospitably received by the Macdonalds. After stopping with them a number of days, they rose before light one winter morning, and, suddenly attacking their friendly hosts, murdered all the men who did not escape, and drove the women and children into the snowdrifts to perish of cold and hunger. They finished their work of destruction by burning the cabins and driving away the cattle. By this act, Glencoe, or the "Glen of Weeping," was changed into the Valley of the Shadow of Death. The blame which attaches to William is that he did nothing toward punishing those who planned and carried out the horrible massacre. 502. La Hogue; the Peace of Ryswick, 1697. The English naval commander, Admiral Russell, like many of William's pretended friends and supporters, had been engaged in treasonable correspondence with James II. If the latter succeeded in recovering his crown, the Admiral hoped to bask in the sunshine of royal favor; but he later changed his mind and fought so bravely in the sea fight off La Hogue that the French supporters of James were utterly beaten. King William, however, continued his Continental wars for the next five years, until, by the Peace of Ryswick, in Holland, 1697, Louis XIV bound himself to recognize William as King of England, the Princess Anne[1] as his successor, to withdraw all support from James, and to place the chief fortresses of the Netherlands, or Low Countries, in the hands of the Dutch garrisons. The Peace of Ryswick marked the end of the conspiracy between Louis and the Stuarts to turn England into a Roman Catholic country dependent on France (SS477, 488). When William went in solemn state to return thanks for the conclusion of the war, it was to the new cathedral of St. Paul's, which Wren had nearly completed (S474), and which was then first used for public worship. [1] The second (Protestant) daughter of James II. See Genealogical Table, p. 323. 503. The National Debt, 1693; the Bank of England, 1694. William had now gained, at least temporarily, the object that he had in view when he accepted the English crown. He had succeeded in drawing the English into a close defensive alliance against Lois XIV,[2] who, as we have seen, was bent on destroying both the political and the religious liberty of the Dutch as a Protestant people (S476). [2] Guizot's "History of Civilization," chap. xiii. William's wars had compelled him to borrow large sums from the London merchants. Out of these loans sprang the permanent National Debt. That debt was destined to grow from less than a million of pounds to so many hundred millions that all thought of ever paying it has long since been given up. Furthermore, it became necessary to organize a Banking Company, 1694, for the management of this collosal debt; together the two were destined to become more widely known than any of William's victories.