It would appear, then, that upon accounts being looked into, in the autumn of 1810, money affairs were found to be almost hopelessly entangled. The three great serial works,—the “Debates,” “Parliamentary History,” and “State Trials,” were being produced at a ruinous loss; while the accommodation-paper, chiefly in the hands of Mr. Swann, amounted to thousands of pounds. Cobbett had not looked at his balance for six years! His practice was to ask Mr. Wright to send him ten, twenty, or forty pounds as he wanted it; and to leave the rest of the matter implicitly to him. Wright was, himself, not very clever in the management of money; and, between the two, there came at last the profoundest muddle. It ended in an arbitration, held in the prison; the result being a heavy award against Wright, and a total and irremediable rupture of their friendship. Mr. Budd bought up a large portion of the publications in stock; while Mr. Hansard took into his own hands the three serials which he had been printing for Cobbett.
The quarrel with Mr. Wright is the most painful episode in Cobbett’s life. There can be no doubt that Wright had been a reckless agent, and had been trusted far too much; and his conduct, some years after, in producing an old, long-forgotten, private letter of Cobbett’s, to serve electioneering purposes, was so infamous a breach of confidence, that it may well be believed that his employer’s imputation of dishonesty had foundation in actual fact. Of this matter we shall unhappily hear more in the sequel.[6] The following letter to Mr. Swann (dated Newgate, January 26, 1811) may be selected as best illustrating the existing condition of affairs:—
“I find, from Mr. Bagshaw, that one of the notes, given by him to you, or at least accepted by him, at our settlement and renewal of bills, under the auspices of Wright, is coming due on Tuesday (I believe it is), and we have no money to pay it. You remember that he told me that all these notes were given for books bought by Budd and Bagshaw. As it happens, the former was nearly true; but, as to the latter, not a shilling was due on that account. The whole was a fraud upon me, in order to make me believe that the works had sold to this extent; and his view was to get an assignment of the stock, and leave me to pay myself as I could. I have now an abundance of bonâ fide notes, but no money; every sixpence being swallowed by the notes left unpaid and unrenewed at the time you were here. A series of such unprincipled conduct I never either knew or heard of; but I am aware that my having been a dupe is no justification for me with you. Within these five weeks I have not had an hour’s peace; but I have obtained forbearance from those whom I could not pay, and have avoided, except with you, putting my name to any new bill. My wife knows all about the matter; and plenty of vexation it has given her. I imagine I can pay this first note in about a fortnight; but I am sure the others will come too fast upon me. If you could come to town in ten days, I think we could so settle the matter, as for it not to be at all, or at least but very little inconvenient to you, and to relieve my mind from a load of vexation and anxiety that is really intolerable.
“The works are all going on well. I have made a revolution here at any rate. I have not seen Wright this fortnight; but I make him send every word of copy to me. I have dismissed his journeyman-authors and bottle-companions, and have set him to work for his bread. And work he shall, or I will dismiss him. Considerable as my property is, I had been well-nigh ruined, if I had not come to jail. Let me have a line from you. Mrs. Cobbett joins me in kindest regards to Mrs. Swann and your dear children. We thank you very much for the pig; but I thank you still more for your last kind and affectionate letter, the words of which, and the whole of your conduct, have made an impression upon my heart that never will be effaced. Amongst the other acts of this man was an attempt to put an end to our connexion, when once he had got you to take the notes; but he was silenced by an indignant rejection of the hint on my part. The best way will be to say little about the matter anywhere; for the shame of being so duped is mine.
“God bless you, and give you health, and the like to your family.”
It was all too late, however. Years of prosperity, with concurrent retrenchment, might have staved off ruin. But, as the ensuing period in the history of England was one of continued disaster to most persons who were not paid out of the taxes, Mr. Cobbett shared the fate of all persons who were not prepared for the storm; and his pecuniary affairs only got from bad to worse. As for the 6500l. due from Wright under the arbitration, there was not the ghost of a chance of that ever being paid.
Under the circumstances, then, it is not surprising to learn that he had already accepted the proffered assistance of his political friends. Colonel Bosville gave him 1000l. as a set-off against some electioneering expenses he had been put to over Mr. Paull; Burdett advanced a large sum chiefly for the purpose of settling with Mr. Swann; and, at last, when the fine had to be paid, it would appear that Cobbett owed the ability to do so to the generosity of another. This disposition to support him and his cause showed itself, however, from the very first, and from all quarters. Even his opponents could not fail to admit the severity of the sentence;[7] while his friends not only offered their sympathy, but proposed a public subscription on his behalf—a proposal, however, which Cobbett declined, at the same time suggesting that those who wished to assist him could not do better than buy the Register.
The end came at last. In compliment to Mr. Cobbett’s untiring industry, and the abundant material provided for its exercise, Old Time had worn his fleetest pair of wings. And on the 8th July, 1812, his last paper in Newgate announced that he had “just paid a thousand pounds to the king: and much good may it do his majesty!”
On the following day, being released, a grand dinner was given at the “Crown and Anchor,” in order to celebrate the occasion; and, as though Fate were determined that he should have no interval of peace, as soon as he had regained his liberty, the opportunity must needs be taken to remind Mr. Cobbett that his opinions had changed from time to time. Burdett took the chair, presiding over some six hundred guests, and the thing was fairly successful, notwithstanding an attempt made to create discord between Cobbett and the chairman of the evening. There was no blinking the fact, however, that Cobbett had lost some friends over the vacillation which he had displayed while within the grasp of Vicary Gibbs; but the ungenerous mortal, who brought the matter forward at the dinner, had no support from his audience; and, indeed, all the leaders among the Reformists[8] had condoned the momentary weakness.