In November of this year, it was announced that

[[56]]the king earnestly desired parliament should take into consideration the state of the East India Company. But the king was ignorant of the subject; though it was true, the queen desired it; because she received vast emoluments from the various situations purchased by individuals under the denomination of cadets, &c. Of course, her majesty's will was tantamount to law.

The Earl of Chatham resolved once more to speak to the queen upon the state of things, and had an audience for that purpose. As an honest man, he very warmly advocated the cause of the nation, and represented the people to be in a high state of excitement, adding, that "if they be repelled, they must be repelled by force!" And to whom ought an unhappy suffering people to have had recourse but to the throne, whose power sanctioned the means used to drain their purses? The queen, however, was still unbending; she not only inveighed against the candour and sentiments of the earl, but requested she might not again be troubled by him upon such subjects! Before retiring, Lord Chatham said, "Your majesty must excuse me if I say, the liberty of the subject is the surest protection to the monarch, and if the prince protects the guilty, instead of punishing them, time will convince him, that he has judged erroneously, and acted imprudently."

The earl retired; but "his labouring breast knew not peace," and he resolved, for the last time, to see the king in private. An interview was requested, and as readily granted. "Well, well," said the king,

[[57]]"I hope no bad news?" "No bad news, your majesty; but I wish to submit to your opinion a few questions." "Quite right, quite right," said the king, "tell me all." The earl did so, and, after his faithful appeal to the king, concluded by saying, "My sovereign will excuse me, but I can no longer be a party to the deceptions pawned upon the people, as I am, and consider myself to be, amenable to God and my conscience!" Would that England had possessed a few more such patriots!

This year will ever be memorable in history as the commencement of that partition of Poland, between three contiguous powers,—Russia, Austria, and Prussia,—which has served as an example and apology for all those shameful violations of public right and justice that have stained the modern annals of Europe. The unfortunate Poles appealed in vain to Great Britain, France, and Spain, and the States-general of Holland, on the atrocious perfidy and injustice of these proceedings. After some unavailable remonstrances, the diet was compelled, at the point of the bayonet, to sign a treaty for the formal cession of the several districts which the three usurpers had fixed upon and guaranteed to each other. The partitioning legitimates also generously made a present of an aristocratic constitution to the suffering Poles.

In the year

1773,

commercial credit was greatly injured by extensive

[[58]]failures in England and Holland. The distress and embarrassment of the mercantile classes were farther augmented by a great diminution in the gold coin, in consequence of wear and fraud,—such loss, by act of parliament, being thrown upon the holders!