Till within this last day or two I have been much out of order, and this, added to the hurry of this business for the last week, has made it impossible for me to get an answer to your queries. I fear it will be impossible for me to do it before Tuesday, but you may depend upon my exerting myself as much as I can.
I do not agree at all with what I understand from Young to be your opinion on the reduction of interest; holding with Smith, that the hire of money, like that of any other commodity, will find its level, and going even beyond him in thinking the grounds on which he states such a measure to be sometimes justifiable, such as will not support him on his own principles. I have also a doubt, but of that you are a much better judge than I can be, whether it is often desirable to hold a neutrality on the part of Government with respect to such questions. That, however, depends on circumstances, and I can easily conceive such as would make that the only line you could prudently adopt.
This has been the most sickly of all seasons with us. Jemmy has been very ill, and is not recovered, though, I trust, entirely out of all danger. Hester has also been seriously ill, but is out again. I agree most entirely with Fitzgibbon, in reprobating that some lex et consuetudo Parliament, which is to supersede the good old common law of the land. Fox's whole conduct and language has been singularly indecent.
Ever most affectionately yours,
W. W. G.
It will be seen that Mr. Grenville complains of the failure, on the part of the friends of the Government, in answering the arguments of the Opposition. Amongst those whose talents raised the highest expectations, only to be disappointed in the moment of debate by want of resolution, was Lord Mornington—subsequently distinguished by the brilliancy and solidity of his orations. Mr. Grenville elsewhere alludes to Lord Mornington's intention of speaking from day to day, which he fears he will suffer the session to pass over without carrying into execution, and begs of Lord Buckingham to write to him urgently on the subject. Lord Bulkeley gives a less dignified version of Mr. Pitt's retreat from the discussion on this occasion, and, in his usual rattling way, runs on about the prominent topics of the hour. In this letter some names appear which were afterwards destined for a wide celebrity, more especially those of "a Mr. Tierney" and "young Grey."
LORD BULKELEY TO THE MARQUIS OF BUCKINGHAM.
Stanhope Street, March 10th, 1788.
My dear Lord,
Our politics have worn the most decided aspect till lately. On last Wednesday, on the bringing in the Declaratory Bill of the powers of the Board of Control, Mr. Pitt experienced a mortification, not only from the abilities of those who oppose him, but from the defection of some of his friends, and the luke-warmness of others, that he has not experienced since he has been a Minister. It was an awkward day for him, and he felt it the more because he himself was low-spirited, and overcome by the heat of the House, in consequence of having got drunk the night before at your house in Pall Mall, with Mr. Dundas and the Duchess of Gordon. They must have had a hard bout of it, for even Dundas, who is well used to the bottle, was affected by it, and spoke remarkably ill, tedious and dull. The Opposition, therefore, made the most of their advantages, and raked Pitt fore and aft in such a manner, as evidently made an impression on him. I heard from our own friends that no Minister ever cut a more pitiful figure.