market-place, and in other quarters of Paris, to bridle the fury of the mob, from which a fecond night of St. Bartholomew was dreaded *. Disorder and confufion reigned every where, feditious and inflammatory libels were pofted up in all places, and the life of the Regent himself was threatened; but that Prince, among whofe failings want of courage could never be reckoned, disregarded thefe menaces, and continued to give public audience every day in the Palais Royal.

In this emergency the Parliament of Paris called an extraordinary meeting to deliberate upon the fituation of affairs; and the refult of this meeting was fending a deputation, compofed of their most illuftrious members, to the Regent, to demand the revocation of the arret of the 21 of May. Upon their representation, this was accordingly done by another arret of the 27th of May, establishing the paper at its former denomination. But all confidence being now gone, this edict had no other effect than to increafe the milchief, by throwing again into the channel of commerce, notes univerfally difcredited, with which knawith perfons paid and ruined their lawful creditors. The Prefident de Novion having fome months preceding dold an estate to Mr Law for above 800,000 liv. in gold, and having re

ferved a right of redemption within a ftated period, his fon availed himself thereof, and repaid the purchafer at this juncture with notes.

When the laft mentioned arret of the 27th was published, the people crowded fo eagerly about the Bank to change their notes into fpecie, that feveral perfons were hurt, and one was killed outright; but the avenues being ftrictly guarded by foldiers, very few indeed could get near the tellers; this contributed ftill more to difcredit the notes, which was further increafed by the ftopping payment at the Bank on the 29th of May. This was done under the pretext of giv ing commiffaries conftituted for that purpose, an opportunity for examining, the Bank books, and enquiring into the alledged frauds and knaveries of the clerks. It appears however, that the Bank began paying again on the 2d of June; but ftill it was fcarcely poffible to get near the tellers, though the eagerness of the public to obtain fpecie was fo great, that none grudged to give even more than 100 liv. for one louis d'or.

but

The Bank was again fhut up; being opened on the 9th of July, for the payment of notes of 10 liv. an incredible throng of people affembled at the entrance on the fide of the Mazarine gardens. The guard took

care

are that a very small number should be admitted: and the door being immediately fhur, thofe on the outfide began to be very clamorous, and to throw stones at the door and into the gardens, which was returned from within; and one of the foldiers firing his piece through the key-hole, killed a coachman and wounded a citizen in the fhoulder. At laft the door was opened; but the guards being ranged in the infide with fixed bayonets, few chofe to venture within their reach, and those who did fo, paid dear for their temerity, feveral being wounded, and one run through the body. The 17th of July being appointed for paying notes of 100 liv. fo immenfe a con'courfe affembled, and their ftruggles were fuch, that it is faid no less than 20 perfons were squeezed to death; this occafioned a dreadful ferment among the Parifians, which was quelled with great difficulty, by the prudent conduct of the Secretary of War.

In this difpofition of the people, who could think of nothing but getting quit of their paper money, all attempts to reflore the credit of the notes and of the Actions were of no avail. The Regent dofing all heart, and becoming perfuaded that the blugder of the 21th of May was irreparable, refolved to put a-final conclufion to the fyftem, that up the Bank altogether, put a stop to the course of the notes, bid a long farewell to credit and to confidence, and return to the old mode of railing money by rents upon the Town Houfe of Paris. In purfuance of the delign, he agreed with the India Company to burn the 400,000 Actions in his poffeflion; and they engaged in return to cancel 1500 mile lions of the debt due to them by the King, and to give up 39 millions of the intereft payable by his Majefly, the other millions of annual-rents being referved partly as the interelt of the original loan of 100 millions, which still fubfitted, and partly on account of other claims remaining against him. The Company, moreover, con3 F VOL. XIV. No. 83.

fented to give up the leafe of the farms, the management and profits of the Mint, and the administration of the Royal Revenues, and engaged to con. fine themselves folely to the India trade, and the culture of the colonies. These arrangements were fettled by feveral arrets of different dates, one of which entirely fuppreffed all Bank notes, declaring, that, after the ift of December 1720, they were to have no currency whatever.

At the time the Bank ftopped paymeat, it was poffeffed of 461,316,410 liv. in notes, and 336,011,050 liv. in fpecie, making together 797,327, 460 hv. which being deducted from 2.696,400,000 liv. the total amount of notes fabricated, left a remainder of 1,899,072,450 liv. of outstanding notes, for which the King was accountable. This fum was ordered to be brought to the Bank within a certain period, to be liquidated by purchafing perpetual annuities at the rates of 2, 2, and 3 per cent, and annuities upon lives at 4 per cent, making altogether an annual intereft of 43 millions; to this fum the 9 millions payable by the King to the Company being added, the refult is 57 millions a year, the total intereft which his Majesty had to pay, inftead of 80 millions as at firft; the capital, however, had undergone little alteration, fince the 1,899,072,540 liv. of outstanding notes, together with the 100 millions due to the Company, come within a trifle of 20co millions, the amount of his Majefty's debts as eftabified by the Fifa in 1716. Thus, in confequence of thefe arbitrary pro ceedings, the King was a gainer of more than 23 millions a year; for many negkding the opportunity of funding their Bank notes within the Emited time, in hopes they would again recover their credit, or that better terms might be obtained, great fums of these notes were irreparably loft, and remain ufelefs at this day in the poffeflion of individuals.

Account

410

A

LL the writers, from Gregory to Gough, who have travelled thro' Derby, for half a century, give us a defcription of the filk-mill. But it is doubtful, whether an adequate idea can be formed of that wonderful machine, when defcribed by an author who does not understand it himself. Some have earnestly wished to fee this fingular piece of mechanifm; but I have fincerely wished I never had. I have lamented, that while almost every man in the world was born out of Derby, it should be my unhappy lot to be born in. To this curious, but wretched place, I was bound apprentice for seven years, which I always confidered the most unhappy of my life; thefe I faithfully ferved; which was equalled by no other, in my time, except a worthy brother, then my companion in diferefs, and now my intelligent friend. It is therefore no wonder if I am perfectly acquainted with every niovement in that fuperb work. My parents, through mere neceffity, put me to labour before Nature had made me able. Low as the engines were, I was too hort to reach them. To remedy this defect, a pair of high patténs were fabricated, and Jafhed to my feet, which I dragged after me till time lengthened my itature. The confinement and the labour were no burden; but the feverity was intolerable, the marks of which I yet carry, and fall carry to the grave. The inadvertencies of an infant, committed without defign, can never merit the extreme of harsh treatA love of power is predominant in every creature: a love to punifh is often attendant on that power. The man who delights in punishment is more likely to inflict fitsthan the offender to deferve it. He who feels for another will not torture from choice. A merciful judge punishes with re

From bis

gret; a tyrant with plenfure. He who mourns over the chaftifement he must inflict, will endeavour to reduce it; he who rejoices will augment it: one difplays a great, the other a little mind. It was again my unhappy lot, at the clofe of this fervitude, to be bound apprentice to a stocking-maker, for a fecond seven years; fo that, like Jacob, I ferved two apprenticeships; but was not, like him, rewarded etther with wealth or beauty. The time spent at the filk-mill is not includedin the last fifty years. The erection of other mills has given a choice of place; and humanity has introduced a kinder treatment.

The Italians had the exclusive art of filk-throwing confequently an abfolute command of that lucrative traffic. The wear of filks was the tafte of the ladies; and the British merchant was obliged to apply to the Italian with ready money, for the article, at an exorbitant price.

A gentleman of the name of Crochet thought he faw a fine opening to raise a fortune; he therefore erected a small frik-milk in 1702, which joins the prefent work, and is called The Old Shop, now ufed for fabricating or naments of the Derbyshire petrifactions. Every profpects of the future undertaking was favourable, till the fcheme was put in practice, when the bright ideas died away. Crochet foon became infolvent, enw sits

John Lombe, a man of spirit, a good draughtfman, and an excellent mcchanic, travelled into Italy, with a view of penetrating the fecret. He ftaid fome time; but as he knew admifhon was prohibited, he adopted the ufual mode of accomplishing his end by corrupting the fervants. This gained him frequent accefs in private. Whatever part he became master of, he committed to paper before he flept..

By.

water.

1717.

1

He agreed with the Corporation for an ifland or fwamp in the river, five hundred feet long, and fifty-two wide, at eight pounds per ann. where he erected the prefent works, containing eight apartments, and 468 windows, at the expence of about 30,000l. This ifland, with another, called the Byeflat, were part of the continent, but feparated, ages paft, by cutting two fluices to work four fets of mills. The ground continuing flat farther wett, would yet allow one or two fets

more.

This ponderous building ftands upon huge piles of oak, from fixteen to twenty feet long, driven close to each other with an engine made for the purpose. Over this folid mafs of timber is laid a foundation of tone,

During three or four years, while this grand affair was conttructing, he hired various rooms in Derby, and particularly the Town-hall, where he erected temporary engines, turned by hand. And although he reduced the prices fo far below thofe of the Italians, as to enable him to monopolize the trade, yet the overflowings of profit were fo very confiderable, as to enable him to pay for the grand machine as the work went on.

ral years before the leafes were executed, which was not done till 1724, and extended to feventy-nine years.

Being established to his with, he procured in 1718 a patent from the Crown, to fecure the profits during fourteen years. But, alas! he had pot purfued this lucrative commerce more than three or four years when the Italians, who felt the effects of the theft from their want of trade, determined this deftruction, and hoped that his works would follow.

An artful woman came over in the character of a friend, affociated with the parties, and affitted in the business. She attempted to gain both the Italians and fucceeded with one. By thefe two, flow poifon was fuppofed, and perhaps juftly, to have been adminiftered to John Lombe, who lingered two or three years in agonies, and departed. The Italian ran away to his own country; and Madam was interrogated, but nothing transpired except what ftrenthened fufpicion.

John dying a batchelor, his property fell into the hands of his brother William, who enjoyed, or rather poffeffed the works, but a fhort time; for, being of a melancholy turn, he fhot himself. This fuperb erection, therefore, became the property of his coufin Sir Thomas Lombe. I believe this happened about the year 1726.

If the Italians deftroyed the man, they mifcarried in their defign upon the works for they became more fuccefsful, and continued to employ aabout 300 people.

- In 1732 the patent expired; when Sir Thomas, a true picture of human nature, petitioned Parliament for a renewal, and pleaded, "That the works had taken fo long a time in perfecting, and the people in teaching, that there had been none to acquire emolument from the patent." But he forgot to inform them that he had already accumulated more than 80,000l. thus veracity flies before profit. It is, however, no wonder disguise fhould

appear