Harriet Martineau

by Florence Fenwick Miller

After a long period of poverty and distress, caused by the Napoleonic wars, England, in 1824, experienced the special dangers of a time of rapidly increasing wealth. There was more real wealth in the country, owing to the expansion of trade, which followed on the re-opening of the continent to our commerce, but speculation made this development appear far greater than it was in reality.

There was, at that time, no sort of check upon the issue of paper money. Not only did the Bank of England send out notes without limit; not only could every established bank multiply its drafts recklessly; but any small tradesman who pleased might embark in the same business, and put forth paper money without check or control. Thus there was money in abundance, the rate of interest was low, and prices rose.

The natural and inevitable consequence of this state of things, at a moment when trade was suddenly revived, was a rage for speculation. Not only merchants and manufacturers were seized with this epidemic; the desire for higher profits than could be obtained by quiet and perfectly safe investments spread amongst every class. "As for what the speculation was like, it can hardly be recorded on the open page of history without a blush. Besides the joint-stock companies who undertook baking, washing, baths, life insurance, brewing, coal-portage, wool-growing, and the like, there was such a rage for steam navigation, canals and railroads, that in the session of 1825, 438 petitions for private Bills were presented, and 286 private Acts were passed.... It is on record that a single share of a mine on which £70 had been paid, yielded 200 per cent, having risen speedily to a premium of £1400 per share."[ [5]

Periods of such inflation invariably and necessarily close in scenes of disaster. Gold becomes scarce; engagements that have been recklessly entered into cannot be met; goods have been produced in response to a speculative instead of a legitimate demand, and therefore will not sell; the locked-up capital cannot be released, nor can it be temporarily supplied, except upon ruinous terms. Panic commences; it spreads over the business world like fire over the dry prairies. The badly-managed banks and the most speculative business houses begin to totter; the weakest of them fall, and the crash brings down others like a house of cards; and in the depreciation of goods and the disappearance of capital, the prudent, sagacious and honorable merchant suffers for the folly, the recklessness, the avarice and the dishonesty of others.

Such a crash came, from such causes, in the early winter of 1825. Harriet Martineau's father was one of those injured by the panic, without having been a party to the errors which produced it. He had resisted the speculative mania, and allowed it to sweep by him to its flood. It was, therefore, by no fault of his own that he was caught by the ebbing wave, and carried backwards, to be stranded in the shallows. His house did not fail; but the struggle was a cruel one for many months. How severe the crisis was may be judged from the fact that between sixty and seventy banks stopped payment within six weeks.

The strain of this business anxiety told heavily upon the already delicate health of Mr. Thomas Martineau. In the early spring of 1826 it became clear that his days were numbered. Up to the commencement of that troubled winter it had been supposed that his daughters would be amply provided for in the event of his death. But so much had been lost in the crisis, that he found himself, in his last weeks, compelled to alter his will, and was only able to leave to his wife and daughters a bare maintenance. He lingered on till June, and in that month he died.

It was while Mr. Martineau lay ill, that Harriet's second book, Addresses, Prayers, and Hymns, passed through the press, and the dying father took great interest and found great comfort in his child's work. Much of it he must have read with feelings rendered solemn by his situation.

This little volume so closely resembles the Devotional Exercises, that it is unnecessary to refer to it at greater length. The hymns, which are the special feature of this volume, do not call for much notice. They are not quite commonplace; but verse was not Harriet's natural medium of expression: she wrote a considerable quantity of it in her early days, as most young authors do; but she soon came to see for herself that her gift of expression in its most elevated form was rather that which makes the orator than the poet.

The comparative poverty to which the family were reduced on Mr. Martineau's death at once freed Harriet, to a considerable extent, from the obstacles which had previously been interposed to her spending time in writing. It was still far from being recognized that literature was to be her profession; but it was obvious that if her pen could bring any small additions to her income they would be very serviceable. A friend gave her an introduction to Mr. Houlston, then publishing at Wellington, Shropshire; and a few little tales, which she had lying by, were offered to him. He accepted them, issued them in tiny volumes, and paid her five guineas for the copyright of each story. This, then, was the beginning of Harriet Martineau's professional authorship.