Even men with a special genius for finance on a grand scale, may
completely break down in the management of their own private affairs.
Pitt managed the national finances during a period of unexampled
difficulty, yet was himself always plunged in debt. Lord Carrington, the
ex-banker, once or twice, at Mr. Pitt's request, examined his household
accounts, and found the quantity of butcher's meat charged in the bills
was one hundredweight a week. The charge for servants' wages, board
wages, living, and household bills, exceeded £2,300 a year. At Pitt's
death, the nation voted £40,000 to satisfy the demands of his creditors;
yet his income had never been less than £6,000 a year; and at one time,
with the Wardenship of the Cinque Ports, it was nearly £4,000 a year
more. Macaulay truly says that "the character of Pitt would have stood
higher if, with the disinterestedness of Pericles and De Witt, he had
united their dignified frugality."
But Pitt by no means stood alone. Lord Melville was as unthrifty in the
management of his own affairs, as he was of the money of the public. Fox
was an enormous ower, his financial maxim being that a man need never
want money if he was willing to pay enough for it. Fox called the outer
room at Almack's, where he borrowed on occasions from Jew lenders at
exorbitant premiums, his "Jerusalem Chamber." Passion for play was his
great vice, and at a very early age it involved him in debt to an
enormous amount. It is stated by Gibbon that on one occasion Fox sat
playing at hazard for twenty hours in succession, losing £11,000. But
deep play was the vice of high life in those days, and cheating was not
unknown. Selwyn, alluding to Fox's losses at play, called him Charles
the Martyr.
Sheridan was the hero of debt. He lived on it. Though he received large
sums of money in one way or another, no one knew what became of it, for
he paid nobody. It seemed to melt away in his hands like snow in summer.
He spent his first wife's fortune of £1,600 in a six weeks' jaunt to
Bath. Necessity drove him to literature, and perhaps to the stimulus of
poverty we owe "The Rivals," and the dramas which succeeded it. With his
second wife he obtained a fortune of £5,000, and with £15,000 which he
realized by the sale of Drury Lane shares, he bought an estate in
Surrey, from which he was driven by debt and duns. The remainder of his
life was a series of shifts, sometimes brilliant, but oftener degrading,
to raise money and evade creditors. Taylor, of the Opera-house, used to
say that if he took off his hat to Sheridan in the street, it would cost
him fifty pounds; but if he stopped to speak to him, it would cost a
hundred.
Public-domain text, read in full here on John Shaqi.
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