"Political morality may be elevated by extending liberties: but bribery has everywhere been the vice of growing wealth." "The first election of George the Third’s reign was signalized by unusual excesses:" A seat in Parliament was for sale, like an estate and they bought it without hesitation or misgiving. "Nor were they regarded with much favor by the leaders of parties; for men who had bought their seats,—and paid dearly for them,—owed no allegiance to political patrons. "They sought admission to Parliament, not so much with a view to a political career, as to serve mere personal ends, to forward commercial speculations, to extend their connections and to gratify their social aspirations. But their independence and ambition well fitted them for the service of the court.... They soon ranged themselves among the king’s friends: and thus the court policy,—which was otherwise subversive of freedom became associated with parliamentary corruption. "When the return of members was left to a small but independent body of electors, their individual votes were secured by bribery: and where it rested with proprietors or corporations, the seat was purchased outright." Gatton e. g. was sold for £75,000. Of the 658 members of the House of Commons 487 were returned by nomination ... not more than one third of the House were the free choice of the limited bodies of electors then intrusted with the franchise.... Representatives holding their seats by a general system of corruption could scarcely fail to be themselves corrupt. What they had bought, they were but too ready to sell. And how glittering the prizes offered as the price of their services! Peerages, baronetcies, patronage and court favor for the rich—places, pensions and bribes for the needy. All that the government had to bestow they could command.... Another instrument of corruption was found in the raising of money for the public service. In March 1763, Lord Bute contracted a loan of three millions and a half; and having distributed shares among his friends,—the scrip immediately rose to a premium of 11 per cent.... Here the country sustained a loss of £385,000.... Stock jobbing became the fashion; and many members of Parliament were notoriously concerned in it. Again in 1781 ... a loan of £12,000,000 was contracted to defray the cost of the disastrous American war.... Its terms were so favorable that suddenly the scrip rose nearly 11 per cent. It was computed by Mr. Fox that a profit of £900,000 would be derived from the loan; and by others that half of the loan was subscribed for by members of the House of Commons. Lord Rockingham said. "The loan was made merely for the purpose of corrupting the Parliament to support a wicked, impolitic and ruinous _war_.