DEATH OF THE EMPEROR JOSEPH.

The commons empowered certain persons to examine all the grants made by king William, and report the value of them, as well as the considerations upon which they were made. Upon their report a bill was formed and passed that house; but the lords rejected it at the first reading. Their next step was to examine the public accounts, with a view to fix an imputation on the earl of Godolphin. They voted that above five-and-thirty millions of the money granted by parliament remained unaccounted for. This sum, however, included some accounts in the reigns of king Charles and king William. One half of the whole was charged to Mr. Bridges, the pay-master, who had actually accounted for all the money he had received, except about three millions, though these accounts had not passed through the auditor’s office. The commons afterwards proceeded to inquire into the debts of the navy, that exceeded five millions, which, with many other debts, were thrown into one stock, amounting to nine millions four hundred and seventy-one thousand three hundred and twenty-five pounds. A fund was formed for paying an interest or annuity of six per cent, until the principal should be discharged; and with this was granted a monopoly of a projected trade in the South Sea, vested in the proprietors of navy-bills, debentures, and other public securities, which were incorporated for this purpose. Such was the origin of the South Sea Company, founded upon a chimerical supposition that the English would be permitted to trade upon the coast of Peru in the West Indies. Perhaps the new ministry hoped to obtain this permission, as an equivalent for their abandoning the interest of king Charles, with respect to his pretensions upon Spain. By this time the emperor Joseph had died of the small-pox without male issue; so that his brother’s immediate aim was to succeed him on the Imperial throne. This event was, on the twentieth day of April, communicated by a message from the queen to both houses. She told them that the states-general had concurred with her in a resolution to support the house of Austria; and that they had already taken such measures as would secure the election of Charles as head of the empire.

The house of commons, in order to demonstrate their attachment to the church, in consequence of an address from the lower house of convocation, and a quickening message from the queen, passed a bill for building fifty new churches in the suburbs of London and Westminster, and appropriated for this purpose the duty upon coals, which had been granted for the building of St. Paul’s, now finished. This imposition was continued until it should raise the sum of three hundred and fifty thousand pounds. At the close of the session, the commons presented a remonstrance or representation to the queen, in which they told her that they had not only raised the necessary supplies, but also discharged the heavy debts of which the nation had so long and justly complained. They said that, in tracing the causes of this debt, they had discovered fraud, embezzlement, and misapplication of the public money; that they who of late years had the management of the treasury, were guilty of a notorious breach of trust and injustice to the nation, in allowing above thirty millions to remain unaccounted for; a purposed omission that looked like a design to conceal embezzlements. They begged her majesty would give immediate directions for compelling the several imprest accountants speedily to pass their accounts. They expressed their hope that such of the accountants as had neglected their duty in prosecuting their accounts, ought no longer to be intrusted with the public money. They affirmed, that from all these evil practices and worse designs of some persons, who had, by false professions of love to their country, insinuated themselves into her royal favour, irreparable mischief would have accrued to the public, had not her majesty, in her great wisdom, seasonably discovered the fatal tendency of such measures, and removed from the administration those who had so ill answered her majesty’s favourable opinion, and in so many instances grossly abused the trust reposed in them. They observed, that her people could with greater patience have suffered the manifold injuries done to themselves, by the frauds and depredations of such evil ministers, had not the same men proceeded to treat her sacred person with undutifulness and disregard. This representation being circulated through the kingdom, produced the desired effect of inflaming the minds of the people against the late ministry. Such expedients were become necessary for the execution of Oxford’s project, which was to put a speedy end to a war that had already subjected the people to grievous oppression, and even accumulated heavy burdens to be transmitted to their posterity. The nation was inspired by extravagant ideas of glory and conquest, even to a rage of war-making; so that the new ministers, in order to dispel those dangerous chimeras, were obliged to take measures for exciting their indignation and contempt against those persons whom they had formerly idolized as their heroes and patriots. On the twelfth day of June, the queen, having given the royal assent to several public and private bills, made an affectionate speech to both houses. She thanked the commons, in the warmest expressions, for having complied with all her desires; for having baffled the expectations of her enemies in finding supplies for the service of the ensuing year; in having granted greater sums than were ever given to any prince in one session; and in having settled funds for the payment of the public debts, so that the credit of the nation was restored. She expressed her earnest concern for the succession of the house of Hanover; and her fixed resolution to support and encourage the church of England as by law established. Then the parliament was prorogued.