Such a step taken at such a time by such a man had its inevitable result.

Consols, which the Duke's speech on the Address had brought from 84 to 80, fell to 77 in an hour and a half; jewellers and silversmiths sent their goods to the banks; merchants armed their clerks and barricaded their warehouses; and, when the panic subsided, fear only gave place to the shame and annoyance which a loyal people, whose loyalty was at that moment more active than ever, experienced from the reflection that all Europe was discussing the reasons why our King could not venture to dine in public with the Chief Magistrate of his own capital.

A strong Minister, who sends the funds down seven per cent.

in as many days, is an anomaly that no nation will consent to tolerate; the members of the Cabinet looked forward with consternation to a scheme of Reform which, with the approbation of his party, Brougham had undertaken to introduce on the 15th of November; and when, within twenty-four hours of the dreaded debate, they were defeated on a motion for a committee on the Civil List, their relief at having obtained an excuse for retiring at least equalled that which the country felt at getting rid of them.
Earl Grey came in, saying, (and meaning what he said,) that the principles on which he stood were "amelioration of abuses, promotion of economy, and the endeavour to preserve peace consistently with the honour of the country." Brougham, who was very sore at having been forced to postpone his notice on Reform on account of the ministerial crisis, had gratuitously informed the House of Commons on two successive days that he had no intention of taking office.

A week later on he accepted the Chancellorship with an inconsistency which his friends readily forgave, for they knew that, when he resolved to join the Cabinet, he was thinking more of his party than of himself; a consideration that naturally enough only sharpened the relish with which his adversaries pounced upon this first of his innumerable scrapes.