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    The year 1797 was opened by the suspension of cash payments. The Bank of England had repeatedly represented to Pitt, as Chancellor of the Exchequer, that his enormous demands upon it for specie, as well as paper money, had nearly exhausted its coffers and could not long be continued. The payment of our armies abroad, and the advances to foreign kings, were necessarily made[455] in cash. The Government, in spite of enormous taxation, had already overdrawn its account eleven million six hundred and sixty-eight thousand eight hundred pounds, and the sole balance in the hands of the Bank was reduced to three million eight hundred and twenty-six thousand eight hundred and ninety pounds. Pitt was demanding a fresh loan for Ireland, when a message came from the Bank to say that, in existing circumstances, it could not be complied with. Thus suddenly pulled up, the Privy Council was summoned, and it was concluded to issue an order for stopping all further issue of cash, except to the Government, and except one hundred thousand pounds for the accommodation of private bankers and traders. Paper money was made a legal tender to all other parties, and the Bank was empowered to issue small notes for the accommodation of the public instead of guineas. A Bill was passed for the purpose, and that it might not be considered more than a temporary measure, it was made operative only till June; but it was renewed from time to time by fresh Acts of Parliament. The system was not abolished again till 1819, when Sir Robert Peel brought in his Bill for the resumption of cash payments, and during the whole of that time the depreciation of paper money was comparatively slight.

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    "Oh! rescue the countrysave the people of whom you are the ornaments, but severed from whom you can no more live than the blossom that is severed from the root and tree on which it grows. Save the country, therefore, that you may continue to adorn it; save the Crown, which is threatened with irreparable injury; save the aristocracy, which is surrounded with danger; save the[212] altar, which is no longer safe when its kindred throne is shaken. You see that when the Church and the Throne would allow of no church solemnity in behalf of the queen, the heartfelt prayers of the people rose to Heaven for her protection. I pray Heaven for her; and here I pour forth my fervent supplications at the Throne of Mercy, that mercies may descend on the people of the country, higher than their rulers have deserved, and that your hearts may be turned to justice."

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    Whilst showing this firmness towards others, Clive found it necessary to maintain it in himself. In face of the orders of the Company which he had been enforcing, that the British officials should receive no more presents, the Rajah of Benares offered him two diamonds of large size, and the Nabob-vizier, Sujah Dowlah, on the conclusion of his treaty, a rich casket of jewels, and a large sum of money. Clive declared that he could thus have added half a million to his fortune; and our historians have been loud in his praises for his abstinence on this occasion. Lord Mahon observes:"All this time the conduct of Clive was giving a lofty example of disregard of lucre. He did not spare his personal resources, and was able, some years after, to boast in the House of Commons that this his second Indian command had left him poorer than it found him." Ill-health compelled him to return to England in January, 1767.

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