The History of England, from the Accession of James the Second — Volume 4 by Macaulay, Thomas Babington Macaulay, Baron, 1800-1859

It was vain however to reason against the general infatuation. The Tories exultingly predicted that the Bank of Robert Harley would completely eclipse the Bank of Charles Montague. The bill passed both Houses. On the twenty-seventh of April it received the royal assent; and the Parliament was immediately afterwards prorogued.

CHAPTER XXII

Military Operations in the Netherlands--Commercial Crisis in England--Financial Crisis--Efforts to restore the Currency-- Distress of the People; their Temper and Conduct--Negotiations with France; the Duke of Savoy deserts the Coalition--Search for Jacobite Conspirators in England; Sir John Fenwick--Capture of Fenwick--Fenwick's Confession--Return of William to England-- Meeting of Parliament; State of the Country; Speech of William at the Commencement of the Session--Resolutions of the House of Commons--Return of Prosperity--Effect of the Proceedings of the House of Commons on Foreign Governments--Restoration of the Finances--Effects of Fenwick's Confession--Resignation of Godolphin--Feeling of the Whigs about Fenwick--William examines Fenwick--Disappearance of Goodman--Parliamentary Proceedings touching Fenwick's Confession--Bill for attainting Fenwick-- Debates of the Commons on the Bill of Attainder--The Bill of Attainder carried up to the Lords--Artifices of Monmouth--Debates of the Lords on the Bill of Attainder--Proceedings against Monmouth--Position and Feelings of Shrewsbury--The Bill of Attainder passed; Attempts to save Fenwick--Fenwick's Execution; Bill for the Regulating of Elections--Bill for the Regulation of the Press--Bill abolishing the Privileges of Whitefriars and the Savoy--Close of the Session; Promotions and Appointments--State of Ireland--State of Scotland--A Session of Parliament at Edinburgh; Act for the Settling of Schools--Case of Thomas Aikenhead--Military Operations in the Netherlands--Terms of Peace offered by France--Conduct of Spain; Conduct of the Emperor-- Congress of Ryswick--William opens a distinct Negotiation-- Meetings of Portland and Boufflers--Terms of Peace between France and England settled--Difficulties caused by Spain and the Emperor--Attempts of James to prevent a general Pacification--The Treaty of Ryswick signed; Anxiety in England--News of the Peace arrives in England--Dismay of the Jacobites--General Rejoicing-- The King's Entry into London--The Thanksgiving Day

ON the seventh of May 1696, William landed in Holland.692 Thence he proceeded to Flanders, and took the command of the allied forces, which were collected in the neighbourhood of Ghent. Villeroy and Boufflers were already in the field. All Europe waited impatiently for great news from the Netherlands, but waited in vain. No aggressive movement was made. The object of the generals on both sides was to keep their troops from dying of hunger; and it was an object by no means easily attained. The treasuries both of France and England were empty. Lewis had, during the winter, created with great difficulty and expense a gigantic magazine at Givet on the frontier of his kingdom. The buildings were commodious and of vast extent. The quantity of provender laid up in them for horses was immense. The number of rations for men was commonly estimated at from three to four millions. But early in the spring Athlone and Cohorn had, by a bold and dexterous move, surprised Givet, and had utterly destroyed both storehouses and stores.693 France, already fainting from exhaustion, was in no condition to repair such a loss. Sieges such as those of Mons and Namur were operations too costly for her means. The business of her army now was, not to conquer, but to subsist.