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equivalent to the notes in circula. secution is forbidden, of the caiffe tion. There was besides this the for payment in fpecie, and of in500,000l. originally advanced by dividuals for debes, the payment of the projectors and never with which has been tendered in notes of drawn; and there was a part of the the caisse d’escompte : the edi&t is dividends, which the proprietors to be in force till the firit of Janu. had chosen to leave in the caisse for ary 1784. By the second, the orthe purpose of accumulation. These dinances against the exportation of circumítances had given the bank specie are renewed; the transport the highest degree of reputation, of specie from province to province and caused its stock to sell greatly is subjected to inspection and a fee;

But notwithstanding the bills with which the caiffe is these appearances, to the astonish. permitted to pay its notes are speciment of the public, on the second fied to be bills payable in three day of October 1783, the caisse months; and the caille is allowed d'escompte stopped payment. The the option of paying its notes in amyned cause was an uncommon fpecie. By the third, an estimate scarcity of specie; and it cannot is declared to have been taken by be denied but that there is that in the king's command, which conthe nature of the cause, which ren firms the declaration of the first alers it capable of producing the ef- edict; the caisse is allowed an opfect ascribed to it. The public how- tion of discounting bills as hereto. ever imagined that the failure ori- fore, whenever they judge conveginated in a loan secretly made to nient; and as a tarther encourage, government by the caille d'escompte. ment, a lottery, with a stock of one What confirmed them in the sur. million sterling, redeemable in eight pician of such a connection was, that years, being established, the tickets about the same time, the govern- are made purchaseable in notes of ment themselves stopped payment the caisse d'escompte. In each of of the bills drawn upon them by these edicts there is much repetition, their army in America. We are un- and the fourth contains no original able either to confirm or refute this matter. Ta the circumstances they idca.

conrain we have only to add, that Louis XVI. extended his protec- the payment of the notes in specie tion to the falling company.

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appears never to have been entirely edicts were publimed by adminiftra: stopped. tion, tending to relieve the distress Nothing has usually been found under which it laboured. The more fatal to commerce than the editts bear date refpectively, Sep. interference of government. But tember 27th, September the 30th, the caisse d'escompte was reserved O&tober the 4th, ane! October the for a fortunate instance, that this soch. By the first, the state of ac- maxim is not universal. Though counts of the caisse d'escompte be- taken under the tuition of a king, ing affirmed to be as we have above it survived the operation. By derelated, this bank is authorised to pay grees it resumed those functions its note in bills of exchange with which had lately been suspended. beneficiai discuit; the notes are Its business has increased, irs credit ordered to hire currency in the has risen, and it seems to be now in banks of Paris only; and all pro: as flourishing a state as ever.

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the 28th of February 1784, its is pretty well understood. The queen ftock fold at 138 per cent*. is intelligent, active, and fond of

From the detail we have laid be public affairs. The understanding fore our readers, it appears how of Louis is not extremely comprelittle is to be inferred to the disade henfive; but owing partly to a vantage of the French finances from happy natural disposition, and partthe fulpenfion of payment in the ly to his being devoid of all violent caiffe d'escompte. The fubject propenfities, he is the friend of mowould not indeed have required to deration, virtue, and public happi. have been gone into at so great nefs. To descend to still greater lenght from its intrinsic import• minuteness, his chief pleasures are ance. It was only the misrepre. those of the table and of hunting, sentation, which has gone forth re. with little bias to the tender paffion, specting it, that at the same time with a temper warm, fomewhat viseemed to demand a refutation some olent, but placable. what circumstantial, and rendered In conformity to a species of lanit an obje&t of considerable curio- guage that has obtained, we have fity. For the rest, notwithstanding called one of the parties in admini. come unfavourable symptoms, the stration the party of the king : in Itate of the French finances is by reality, however, that prince is to be no means contemptible. A great considered as the moderator and um. part of their loan is always made pire of both. Every minister asupon annuities, which of course ex. pires to rule: but the spirited and pire in a short term of years; and active character of the queen has of nothing seems more certain, than late years interfered with this para the practicability of their revenues fion, particularly in one of the fa. being raised, in case of the continu- vourite appendages of power, the anee of peace, to the most unen- disposal of lucrative and honorary cumbered and flourishing condition. appointments. The two most ac -The greater part of ihe bills we tive characters in the direction of bave mentioned, drawn by their public affairs are the marthal de army in America, are now dis- Castries, who succeeded M.de sar. charged.

tine in October 1781, as minister The court of France affords us so and secretary of state for the marine interesting a subject, that it will department; and the count de Verprobably be an acceptable addition gennes, who was appointed about to this part of our narrative, if we iwelve months later to the departe lay, before our readers-such an idea ment of foreign affairs. M. de of its present state, as we have been Castries is a man of high family and able to obtain. It has for some years great connections; M. de Vergen. been divided into two parties, which nes, of moderate birth, owes his we may call the party of the king, present elevation to his character for and the party of the queen. The acquirements and abilities. His recharacter of both thele personages puted forte is negociation; and he . At the moment that this heet is in the press we have received intelligence that the dock of the caiffe d'escompte has been continually rising, and bears at this time (Aug. 14, 1784) the astonithing price of 235 per cent. The sole cause of its present prosperity is said to be certain new regulations which took place upon the restoration of its affairs : a cause, scarcely adequate to the magnitude of the effect, and which feems to portend that that effect cannot be lasting:

laid out his whole strength upon than that the French are fully dif the late treaty of peace. Louis, the i posed to enjoy advantages that can friend of prosperity and happiness, never be sufficiently prized, the bleilwas casily brought to enter into his. ings of peace. views; and the liiccess he obtained, Towards the cominencement of in opposition to the marshal de Cafe: the vear 1783 an idea seems to have tries, the. advocate of war, gave been formed in the Spanish court of hinn rather a disproportionate weight abolithing or greatly diminishing the in the royal councils. Shortly after powers of the holy inquilition. Upthis event a committee of finance, on mature confideration however it consisteng .of.three persons, and in was thought untafe to fhock so far which Vergennes presided, was ape the prejudices of mankind, and the pointed for the controul of public : privileges of this venerable initie accounts. This inftitution, which tution have reinuinad undisturbed. subjected his brother miniiters to his. In the course of the year a public inspection, was particularly obnoxi-' procession was made my the fathers ous to them; and M. de Castries upon the conviction of an impostor and his friends are said in conte- who pretended to dispose of lovequence of it to have entertained potions and charms. His punish. thoughts of resigning. At rithis ment however was fighe. And for time however the queen threw her a number of ears the farternity weight into the scale of de Caftries, have not ventured to punilh any of and reftored the balance. The com- their priloners capitally. mittee of finance still fubfifts, but is The account of the Spanish opeat present little more than a name. rations in bombarding Algiers has

It is a matter of some curiosity not even the fplendour and attracto ascertain what reductions the tion in ftory, of which unfortun.. ; court of France have made in their .ately the transactions of war are but ; naval or military establiQuments in too susceptible.. It is all defolation consequence of the peace. In an- and murder in thrir native hideout. swer to this we have to observe thit, ness. On the jad:of July don Anfo far from reducing their military tonio Barcelo failed on this expediestablishment, they have increased it. tion with four thips of the line and During the late war, which was five frigates, betide a number of properly a naval one, their army finaller vettels, and an immense was neglected, considerable draughts quantity of ammunition. The gowere made from it to strengthen vernment had takeo little care .tq their feets, and we are credibly in- conceal, their intentions; and the formed that its numbers were 'reissto Algerines prepared for their recepced so low as 80,000 men ; a num. tion with infinite assiduity. That ber extremely inferior to its regular article in their preparations that complement, or to the armies of the pleases us beft, is their having protwo Germanic powers. In the na- vided twenty thousand tents withvy-a great number of ships have out the city for the unarmed inhas been laid up; but their fleet is by bitants. The attack continued with po means neglected, nor is it likely little intermission from the ift to that it thould fall into decay under the Sth' day of August inclusive. It® fo active a minister as the marshal was answered by the Algerines from de Castries. Upon the whole, no. : the fortifications with great spirit, thing is more unquestionably true, but not with equal effect. They

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made several desperate attempts to sort term of vears, renders it procome out of the port to destroy the bable that it is to be regarded as conSpanish vessels, but were constant. nected with the character of the poly repulsed. In a word the greatest litics of the present age. Early in part of the town was reduced to the year 1783 a dispute arose bealles, and the Chriftians returned tween the little republic of Ragusa in triumph. The principal pilot and the king of Naples, respecting and several officers fell into the hands a claim of right advanced by this of the enemy, and fix of them were prince to the appointing a comblown out of the mouth of a can- mander of the Ragulan troops non.

For some time the eyes of all Italy The following event would per: were said to be fixed upon this conhaps scarcely deserve to be recorded 'teft. It was ac lengih terminated by in our work, were it not that its co- the republic's purring itself under incidence with events of a fimilar the protection of his Sicilian manature that have taken place in a jesty,

1

CH A P. XXIII. Origin of the Maratta War. Exploits of Gencra! Goddard. Success of

Hyder Ally. He is checked in his Progrds by Sir Eyre Coote. Revolt of Benares. Generallhip of Hyder.

Famine Madras. Hyder's Death. Conquest and Recovery of Bednore. Treaty with the Marata

*HE same thing is accidentally we have two apologies. Nothing rian, that unfortunately character: deliberate in its collection, than the ises che disputes of nations : the first necessary materials for a tolerable year of peace is consecrated to the view of our tranfactions in India, bringing up the arrears of war, and And then the importance of the the fame kind of exertion is called subject has grown extremely under for during this period, as if the our hands. We were not awarç country continued to be involved when we entered upon this work, in hostility with the most potent e. that in the year 1784 the affairs of nemies. We shall elsewhere have India would probably form threeoccasion to take notice of two or fourths of the history of Britain. three instances of this kind : but in' But 'is now high time that the the scene to which we now proceed, omission be remedied. It would be in the plains of Indoitan, the ob: absurd to defer any longer our acservation is much more conspicu- count of the transactions of the ously verified. We understand our Marattà war. The historical part obligation in its fullest sense, and we of our register however has already are disposed to meet it.

swelled to fo considerable a bulk, that To meet it is the more incum- we are obliged to make it a first obbent upon us, as we have hitherto ject of our consideration to consult created the subject flightly and fu- brevity. We hope, though short, perficially. For oyr past conduct to commnnicate a degree of clear

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ness and accuracy to the affairs we found a molt abie advocate in have to treat ; and to low, that lord Thurlow. He has been hothe pains we have taken in investi. nourably acquitted by Mr. Demp. gating the business, have not been fter, as manly, unprejudiced and regulated by the number of pages it independent a character as any that was destined to fill.

adorns the British house of com. The subject is itself of the high- mons. At the same time he has est magnitude. Nothing can be of been opposed in the strongest mangreater importance to the character ner by Mr. Francis, a man whore of the British nation, or (which is personal integrity is, we believe, á confideration which ouibids the as unquestionable as his other a thousand times told) to the rate knowledge of the subject. future' happiness of millions of in- And the gentleman who has taken dividuals, than a just estimate of our the lead in the business, Mr. Burke, late tranfactions in India. But, se. whatever weight may be attributed parately from these grand and over to him at present, will certainly be whelming regards, fepararely even ranked by posterity among the from the reflection, that Indoftan is brightest of his contemporaries. not a country of savages, but the A piece of inforination, for which most fertile, the most ancient, the the public is indebted to Mr. Dempmoft courteous and venerable nation ster will probably serve ftill farin the world, the subject is upon ther to intereft our readers in the other accounts in the utmost degree subject before us. He and Mr. interesting. The dispute about the Burke entered upon the examina. character of Mr. Hastings is not the tion of the India business together. controverly of a narrow, illiberal, Mr. Burke, influenced probably by mercantile spirit, who carefully em- the sympathy that men of genius ploys all the powers that are come and intellectual enthusiasm una, mitted to him in the pursuits of pecu- voidably feel for each other, set out lation and personal cmoluinent. He with a prepossession in favour of Mr. is a man of the most consummate Hastings. Mr. Dempiter, not equalabilities, in a high degree disinter- ly prepared to allow for the eccenested, and animated with the ten- tricities of first-rate talents, had redereft sensibility and molt anxious ceived an unfavourable impression regard for reputation. These qua- from the superficial appearance of lities are compatible with a very the subject. With the iffue of their high degree of blame; they in- enquiry all the world is acquainted. clude and infer a thousand vir- Mr. Burke became the most detertues. However we may decide upon mined enemy of the governor geo the question, the trial is interesting. neral of Bengal ; Mr. Dempster his Were justice and philanthropy to finccreft admirer. demand the condemnation of Mr. But the more important is our Hastings, we could not pass len- subject, and the more. it has divid, tence, without fympathíling ated the wiseft men among us, the the íame time with the illustri- more arduous is our undertaking, ous culprit. But belide Mr. Haft. It is neither consistent with our in ings, a great number of the 'first clination nor the plan of our work, characters among us have become to take a part in this momentous interested in the question. He has and complicated question. We in

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