mity?"
A great number of members had agreed to this measure in private, though
at this period it was not brought into the house of commons. After
a long debate the sum was granted. These were the first-fruits of
Britain's being wedded to the interests of the continent. The elector
of Hanover quarrelled with the king of Sweden; and England was not only
deprived of a necessary branch of commerce, but even obliged to support
him in the prosecution of the war. The ministry now underwent a new
revolution. The earl of Sunderland and Mr. Addison were appointed
secretaries of state; Mr. Stanhope became first commission of the
treasury and chancellor of the exchequer.

THE COMMONS PASS THE SOUTH-SEA ACT, &c.

On the sixth day of May, the king, going to the house of peers, gave the
parliament to understand that the fleet under sir George Byng, which had
sailed to the Baltic to observe the motions of the Swedes, was safely
arrived in the Sound. He said he had given orders for the immediate
reduction of ten thousand soldiers, as well as directions to prepare
an act of indemnity. He desired they would take proper measures for
reducing the public debts with a just regard to parliamentary credit;
and that they would go through the public business with all possible
despatch and unanimity. Some progress had already been made in
deliberations upon the debt of the nation, which was comprehended under
the two heads of redeemable and irredeemable incumbrances. The first had
been contracted with a redeemable interest; and these the public had
a right to discharge: the others consisted of long and short annuities
granted for a greater or less number of years, which could not be
altered without the consent of the proprietors. Mr. Robert Walpole had
projected a scheme for lessening the interest and paying the capital of
those debts, before he resigned his place in the exchequer. He proposed,
in the house of commons, to reduce the interest of redeemable funds,
and offer an alternative to the proprietors of annuities. His plan was
approved; but, when he resigned his places, the ministers made some
small alterations in it, which furnished him with a pretence for
opposing the execution of the scheme. In the course of the debate,
some warm altercation passed between him and Mr. Stanhope, by which it
appeared they had made a practice of selling places and reversions. Mr.
Hungerford, standing up, said he was sorry to see two such great men
run