Mankind may be universally divided into two classes, the honest and dishonest; for I admit of no medium. That those distinctions have existed from the very remotest periods, I believe no one will deny; therefore it is perfectly natural to suppose, that depraved and idle wretches, who would rather steal the effects of another than labour to acquire property for themselves, have infested London, from the hour in which an hundred persons inhabited it in huts or caverns. How those depredators on Society were treated by the Cits of very very very antient times is not worth enquiry; but that death was often inflicted cannot be doubted; and that might be effected by twenty different methods. Strangulation was certainly used before the time of Henry I. in London: punishment for crimes of inferior magnitude are always species of torture; to repeat the probable modes would be far from pleasant.
Whatever may have been the other inventions of the idle to obtain bread, that of begging in all its ramifications was the most antient; the fraternity of mendicants have resisted every attempt to dissolve their body, nor will they vanish till the last day shall remove every living creature from the surface of the earth. After the establishment of Christianity, flocks of Christians determined to devote themselves to the service of the Lord in their way, and work no more; such were some orders of Monks and Friars mendicants! The monasteries afterwards, acting upon a mistaken idea of charity, gave alms, and fed the poor and idle indiscriminately at their gates: thus a wretch might invigorate his body with the viands of the Abbots and Monks in the day, and pass the night in attacks upon the defenceless traveller, perhaps often relieved in presence of the depredator by the blind religious.
In vain have the Monarch, the Law, and the Judge, from the days of the Aborigines down to the present moment, exerted their authority and terrors; and I am compelled, for brevity's sake, to confine myself to the disgraceful acts of a single century. To mention the numbers who were condemned at the Old Bailey in 14 years from 1700, will be sufficient, without particularizing their crimes.
In the mayoralty of Sir Francis Child, 1732, 502 persons were indicted at the Old Bailey; 70 of whom received sentence of death; 208 of transportation; eight fined, imprisoned, or pilloried; four burnt in the hand; four whipped; and 288 acquitted.
In 1722, ten pounds reward was offered by the Clerk of the New River Company, for the apprehension of persons who had wantonly tapped the pipes, and others that had cut the banks to let water on their own possessions.
Lotteries.—These pernicious contrivances to raise money were in full vigour at the commencement of the century. There was the "Greenwich Hospital adventure," sanctioned by an Act of Parliament, which the managers describe as "liable to none of the objections made against other Lotteries, as to the fairness of the drawing, it being not possible there should be any deceit in it, as it has been suspected in others." Mr. Sydenham's Land Lottery, who declared it was "found very difficult and troublesome for the adventurers for to search and find out what prizes they have come up in their number tickets, from the badness of the print, the many errors in them, and the great quantity of the number of the prizes:" the Twelve-penny or Nonsuch: and "the Fortunatus."
Esquire Sydenham's lady's gentlewoman obtained an estate worth 600l. per annum, in her master's Lottery; but the unfortunate holders of blanks, suspecting foul play, advertized an intended meeting on the 11th January 1700, for the purpose of entering into an investigation of their real or fancied wrongs. This produced a denial on the part of his Trustees, but did not prevent the meeting from taking place, when it was unanimously resolved to appoint an eminent goldsmith in Lombard-street cashier, for the receipt of subscriptions to carry their purposes into effect; which being accomplished, they exhibited a Bill in Chancery against the unfortunate Squire[90:A].
Guinea-dropping was practised in 1700; and it was customary for thieves to carry cocks into retired or vacant places to throw at them, in order to collect spectators, and empty their pockets. The following extract from the Protestant Mercury of February 14, 1700, point out three of those places of iniquity: "Last Tuesday, a Brewer's servant in Southwark took his walks round Tower-hill, Moor-fields, and Lincoln's-Inn-fields, and knocked down so many cocks, that, by selling them again, he returned home twenty-eight shillings odd pence a richer man than he came out."
In collecting materials for this portion of my review of London, order and regularity are unnecessary; cheats, impostors, knaves, and thieves, members of one great family, will be indiscriminately introduced, with their schemes and crimes to mark them, and the cullibility of the good Citizens of London, a large portion of whom are ever ready to catch at the most silly and absurd baits, provided they happen to agree with their pursuits. Money-lenders, those excellent members of Society, the friends of youth, the alleviators of distress, who hold forth their thousands to the publick, merely with a view to accommodate the wants of their countrymen, and without the least wish of private advantage to themselves, were known to the inhabitants of this Metropolis at the period from which I date my present researches. The reader will find a wonderful similarity in the ensuing advertisement to some of very recent date. "From our house, New Tuttle-street, near the Royal-oak, Westminster, or Young Man's Coffee-house, at Charing-cross, in the morning. All gentlemen and others that have business in Treasury, Admiralty, or Navy offices, or any of the Courts of Law or Equity, may have it faithfully solicited. We buy and sell estates, help persons to money on good security. We help persons to employments, &c. and have now several to be disposed of, of 400l. 100l. 80l. 60l. 40l. per annum[92:A]; any that shall give in timely notice of places to be disposed of shall be rewarded for the same. And because many have been defrauded of considerable sums of money by one that lately printed from Salisbury-court, Fleet-street; that none may be served so that apply themselves to us, nor the reputation of this undertaking ruined, because ill men have had the management of it, we shall not take our gratuity, till we have done their business; which must be allowed to be a candid acknowledgment of our intention."
In so populous a City as London, no place is sacred from the contrivances of Sharpers. Even plate used at the Coronation feast of Queen Anne, in Westminster-hall, April 1702, was stolen, with table-linen and a great deal of pewter[92:B].
To second the operations of the Royal Proclamation for the Suppression of Vice, certain well-disposed Citizens entered into the following agreement, to promote the Reformation of Manners.
"We whose names are hereunto subscribed, out of a sense of the duty we owe to Almighty God, in pursuance of His Majesty's Proclamation for the discouragement and prosecution of debauchery and prophaneness, and for the suppressing of them, do agree as followeth:
"That we meet weekly at ——, under the penalty of —— each default without a just cause; to consult how we may be most serviceable in promoting the execution of the Laws against prophaneness and debauchery. That we use all proper means to prevail with men of all ranks to concur with us in this design, especially such as are under the obligation of oaths to do so; and in order to their acting vigorously therein, that we endeavour to persuade them to form themselves into Societies, at least to have frequent meetings for this purpose.
"That we encourage and assist officers in the discharge of their duty, of discovering disorderly houses, of taking up of offenders, and carrying them before the magistrates, and, moreover, endeavour to assist both magistrates and officers, by giving information ourselves as we have opportunity.
"That, for order sake, every Member in his turn be Chairman (unless any desire to be excused) for four successive days of meeting; that as soon as four members are met, the Chairman, or, in his absence, the next in order upon the list (that shall be made for that purpose) shall take his place: and that from that time to the breaking up of the meeting, we forbear all discourse of public news or our private affairs, as also all unnecessary disputes upon speculative and controversial points of Religion.
"That when any thing is proposed and seconded, the Chairman shall put it to the question, which shall be determined by the majority; and such determination shall remain till altered by a majority upon another meeting.
"That, if upon any matter in debate the voices are equal, the question shall be again proposed by the Chairman at the same meeting, if more of the members come in, or otherwise at the next or some other meeting.
"That it be part of the office of the Chairman to take notice of the breach of any of our orders, to enquire of every member how he hath discharged the business that was allotted him at the last meeting, and what difficulties he hath met with, in order to find out proper remedies. To read over the agreement of this Society once a month. To read over the minutes of what hath been resolved upon at the end of every meeting, and the list of the members; and to go or send to such as have been absent twice successively, without a just excuse known to some member of the Society; and, the next time any such persons shall be present, the Chairman for the time being shall put them in mind of the great importance of the business they are engaged in, and of the obligations they have laid themselves under by their subscriptions to attend the meetings of this Society.
"That we endeavour to find out proper persons to be brought into this Society; and that no member shall be proposed for a member but when four or more of the Society are present; and that none shall be admitted into this Society till he hath been proposed by three several meetings, and are thought to be men of piety and temper; and that after any person hath been proposed a second time for a member, two persons shall be appointed by the major part of the Society to make enquiry concerning his life and conversation.
"That in cases of difficulty that shall occur, we consult the learned in the Law, or other proper persons, that we by no means go further than the Law will warrant us.
"That we keep an exact account of our proceedings in a book kept for that purpose.
"That the debates and resolutions of the Society be kept secret; and, therefore, no person shall be admitted to be present at any debate, in any meeting, that is not a member, unless upon special occasion, and by agreement of the majority present.
"That we look upon ourselves as under a peculiar obligation to pray for the Reformation of the Nation in general, and to implore the Divine direction and blessing upon this our undertaking in particular[96:A]."
Every man may be considered as included within this class, who hazards a falsehood to forward his views, whether they are in the course of trade, or deviate into cheating. Mr. Sheridan, in the Critick, forcibly exposes the various kinds of puffs used by Tradesmen and Authors; and he classes them very justly into the puff direct, indirect, &c. The first instance which occurs of a case in point, after 1700, is the following from a Hair-dresser, which fraternity is notorious for extreme modesty and truth in their addresses to the publick: "Whereas a pretended Hair-cutter, between the Maypole in the Strand and St. Clement's church, hath, without any provocation, maliciously abused Jenkin Cuthbeartson behind his back, at several persons' houses, and at his own shop, which hath been very much to his disadvantage, by saying that he was a pitiful fellow and a blockhead, and that he did not understand how to cut hair or shave: I therefore, the said Jenkin Cuthbeartson, think myself obliged to justify myself, and to let the world know that I do understand my trade so far, that I challenge the aforesaid pretended hair-cutter, or any that belongs to him, either to shave or cut hair, or any thing that belongs to the trade, for five or ten pounds, to be judged by two sufficient men of our trade, as witness my hand this 9th day of November, 1702, Jenkin Cuthbeartson, King-street, Westminster[97:A]."
Fellows who pretended to calculate Nativities were to be met with in several parts of London at the same period: they sold ridiculous inventions which they termed Sigils; and the possessor of those had but to fancy they would protect themselves and property, and the object of the Conjurer was accomplished. Almanack John obtained great celebrity in this art. It appears that he was a Shoe-maker, and resided in the Strand. This fellow, and others of his fraternity, preyed upon fools or very silly people only; their losses were therefore of little moment, and the turpitude of Almanack John was not quite so great as that of the villains who affected illness and deformity, thus to rob the charitable, whose gifts would otherwise have been directed to the relief of the real sufferer.
The reader will presently perceive that, in one instance, the depravity of the community of Beggars is but too stationary since 1702. "That people may not be imposed upon by Beggars who pretend to be lame, dumb, &c. which really are not so; this is to give notice, that the President and Governors for the poor of London, pitying the case of one Richard Alegil, a boy of 11 years of age, who pretended himself lame of both his legs, so that he used to go shoving himself along on his breech; they ordered him to be taken into their workhouse, intending to make him a taylor, upon which he confessed that his brother, a boy of 17 years of age, about four years ago, by the advice of other beggars, contracted his legs, and turned them backwards, so that he never used them from that time to this, but followed the trade of begging; that he usually got 5s. a day, sometimes 10s.; that he hath been all over the counties, especially the West of England, where his brother carried him on a horse, and pretended he was born so, and cut out of his mother's womb. He hath also given an account that he knows of other beggars that pretend to be dumb and lame, and of some that tie their arms in their breeches, and wear a wooden stump in their sleeve. The said President and Governors have caused the legs of the said Alegil to be set straight; he now has the use of them, and walks upright; they have ordered him to be put to spinning, and his brother to be kept to hard labour. Several other able beggars are by their order taken up and set to work, and when brought into the Workhouse have from 10s. to 5l. in their pockets."
A person during the fair of 1703 had the audacity to advertise, that the spoils taken at Vigo were to be seen for sixpence at his booth; and he imposed upon the public curiosity by exhibiting fictitious representations of an Altar-piece of silver, with six Angels in full proportion, four Apostles supporting the four pillars, and four Angels attending them, with each a lamp for incense in their hands; also a Crown set with valuable stones, a Holy-water pot garnished with filligree-work, &c. &c. "all brought from Vigo, having been first lodged in the Tower, and never exposed before but in the Tower."
John Bonner, of Short's Gardens, had the barefaced effrontery, in 1703, to offer his assistance, by necromancy, to those who had lost any thing at Sturbridge Fair, at Churches or other assemblies, "he being paid for his labour and expences."
The Corporation of London aimed a severe blow, in the same year, at impostors and sturdy beggars, by offering a reward of one shilling each for such as were apprehended, and sent to the Workhouse in Bishopsgate-street.
The Post-boy of July 21, 1711, contains the following paragraph: "It is thought proper to give notice of a common notorious cheat frequently practised by men who pretend to be soldiers, and others, in a game by them called Cups and Balls, particularly at the wall next the Mewsgate, within the Verge of the Court."
At a petty Sessions for Westminster held in April 1714, an account was returned from the proper officers of the receipt of 42l. in the preceding six months, as penalties for profanations of the Sabbath, swearing, and drunkenness.
There was a place of resort for the vicious, called the Cave, at Highgate, which was indicted, and the indictment opposed by the proprietors, in a trial before Lord Chief Justice Parker, December 1714; but the defendants lost the cause, and the Cave was suppressed, to the satisfaction, as a paragraph expresses it in the Flying Post, of those "who are enemies to such a nursery of profaneness and debauchery."
A shocking instance of depravity occurred in March 1718. A Quaker potter, of the name of Oades, who resided in Gravel-lane, Southwark, had four sons, whom he admitted into partnership with him, and at the same time suffered them to carry on business on their own account. This method of proceeding naturally led to jealousies and envy on both sides, which increased to a degree of rancour, that the father and sons appear to have acted towards each other as if no connection subsisted between them. The immediate cause of the horrid event that renders the tale odious, was the arrest of Oades by his sons, for the violation of the peace, which they had bound him in a penalty to observe, and the consequent expulsion of their mother from her dwelling. This act attracted the notice of the populace, who seldom fail to adopt the right side of a question of justice, and as usual they began to execute summary vengeance on the house. The sons, an attorney, and another person, secured themselves within it, whence they read the Riot Act, and fired immediately after; a bullet entered the head of a woman, who fell dead; the assault then became more furious, and persons were sent for Mr. Lade, a Justice; that gentleman bailed the father, and commanded the sons to submit in vain: he therefore found it necessary to send for a guard of Soldiers, who arrived and commenced a regular siege, but the fortress was not stormed till two o'clock in the morning, when a courageous fellow scaled a palisade on the back part of the house, and admitted his party, who rushed in, and secured the garrison. The son of Oades, who shot the woman, was tried for the murder, found guilty, but pardoned on his father's intercession, provided he banished himself.
The villain who occasioned the ensuing advertisement mixed cruelty with his fraud. "Whereas a person who went by the name of Dr. Cock, did about two months since come to Mrs. Robinson, in Putney, being indisposed; he pretended to come from an acquaintance of hers from London to give her advice; accordingly he applied a plaster to her stomach, by which she has received a great deal of injury. He had for his fee ten shillings, and demanded six shillings for his plaster; it is supposed he took a handkerchief with him and a shirt. It appearing that nobody sent him, whoever can give notice of him, &c."
The next Sharper upon public record worthy notice was Jones, a footman, who had contrived to attract the favours of the lady of Esquire Dormer, of Rousam, Oxfordshire, a gentleman worth 3500l. per annum; which being discovered by the injured husband, an action was commenced for Crim. Con. against the party-coloured enamorato, and pursued to conviction; but, just as sir Thomas Cross, the foreman of the Jury, was about to pronounce the tremendous sound of 5000l. damages, or, in other words, imprisonment for life, master Jones rushed through the Hall, flew to a boat, was rowed across the Thames, and took sanctuary in the Mint, before the Lord Chief Justice's Tip-staff could prevent him.
An escape accomplished by a still greater villain in 1716, was far more extraordinary: a highwayman, named Goodman, had been apprehended with great exertion and difficulty, and brought to trial at the Old Bailey, where the Jury pronounced him guilty; but, at the instant their verdict was given, he sprang over the enclosure, and eluded every endeavour to arrest his progress.
Such was the daring folly of this man, that he frequently appeared in public, and presuming on his supposed security, actually went to Mackerel's Quaker Coffee-house in Bartlett's-buildings, for the purpose of procuring the arrest of a Carrier, to whom he had intrusted 16l. to be conveyed to his wife in the country, and who, supposing Goodman would be hanged, had converted it to his own use: there he met an Attorney by appointment, and stationed four desperadoes at the door armed with pistols, in order to repel any attempt at seizing him. The Attorney, aware of his precaution, listened to the case of the Carrier, and studiously avoided betraying him; but the instant Goodman departed, he declared who his client was, upon which several persons watched the wretch to his place of concealment, where they attacked him, and he them, with the utmost resolution; after a severe conflict, in which the assailants were compelled to bruise him dreadfully, he was secured; but, throwing himself down in the streets, they were at last compelled to bind and carry him in a cart to prison: he was hanged not long after[104:A].
The Mistress of Child's Coffee-house was defrauded of a considerable sum, in September 1716, by an artful stratagem. She received a note by the Penny-post, which appeared to come from Dr. Mead, who frequented her house; saying, that a parcel would be sent there for him from Bristol, containing choice drugs, and begging her to pay the sum of 6l. 11s. to the bearer of it. The reader will probably anticipate the denouement; the bundle was brought, the money paid; the Doctor declared his ignorance of the transaction, the parcel was opened, and the contents found to be —— rags[104:A].
It is not often that thefts can be narrated which are calculated to excite a smile; and yet I am much mistaken if the reader doth not relax his risible faculties, when he is informed of a singular method of stealing wigs, practised in 1717. This I present him verbatim from the Weekly Journal of March 30. "The Thieves have got such a villainous way now of robbing gentlemen, that they cut holes through the backs of Hackney coaches, and take away their wigs, or fine head-dresses of gentlewomen; so a gentleman was served last Sunday in Tooley-street, and another but last Tuesday in Fenchurch-street; wherefore, this may serve for a caution to gentlemen or gentlewomen that ride single in the night-time, to sit on the fore-seat, which will prevent that way of robbing."
The first notice of Mr. Law, the chief Director of the Royal Bank at Paris, that I have met with, was in August 1717; when it was said he had betted that the French State-bills would not fall 10 per cent. within a year, and given 10 Louis to receive 100 if he won; he offered the earl of Stair 100 for 1000 in the same way, which was refused; and the event proved, that the bills fell 50 per cent.
Gaming was dreadfully prevalent in 1718. This will be demonstrated by the effect of one night's search by the Leet Jury of Westminster, who presented no less than 35 houses to the Justices for prosecution.
The Society for the Reformation of Manners published the ensuing effects of their labours for one year, ending in December 1718.
Prosecuted for lewd and disorderly practices, 1253.
Keeping of bawdy and disorderly houses, 31.
Exercising their trades or callings on the Lord's-day, 492.
Profane swearing and cursing, 202.
Drunkenness, 17.
Keeping common gaming-houses, 8.
We have now arrived at a grand æra of villainy, the golden harvest of scheming, in which Mr. Law acted the first part in France. A person under the signature of Publicus, in the Thursday's Journal of December 17, 1719, very justly observes: "If any of the days of us or our forefathers might be called the projecting age, I think this is the time. If ever there was a nation that had been 23 years ruining itself and recovered in a moment, this is the time. If ever a government paid its debts without money, and exchanged all the cash in the kingdom for bits of paper, which had neither anybody to pay them for, or any intrinsic fund to pay themselves, this is the time. If ever a credit was raised without a foundation, and built up to a height that not only was likely to fall, but indeed was impossible to stand, this is the time."
Speaking of Mr. Law, he says, "First, he has entirely restored credit in France; or, as it may be said, he has planted credit in a soil where credit never could thrive, and never did thrive before; I mean in a tyrannic absolute government, a thing inconsistent with credit, and the very name of it; for when was ever credit established to any degree, where the Sovereign was able to seize upon the foundation on which it stood, by his absolute power, and at his pleasure.
"2dly, He has established such a bank, and so fortified it with an established settlement, and on such a stock, as nothing can come up to it in the world, except only the Banks of London and Amsterdam.
"3dly, He has erected a Company immense and inimitable on a trifling fund, and the trifle made up of the most precarious things that could be then imagined, being State bills, Town-house rents, and public funds, which in their own esteem were not at that time to be rated at above 35 or 40 per cent. nor would they have fetched more to have been sold then in open market; and these has he brought up to be worth 2000l. per cent. in the same market where they were under 40 per cent. before. The man that has done all this was here but a contemptible person, a Silversmith's son at Edinburgh, then a rake, then a soldier, then a kind of bully, then a murderer; he was tried at the Old Bailey for killing Mr. Wilson, commonly called Beau Wilson, in a duel; he was condemned to be hanged, but found means to break out of Newgate; some say he got out by a silver key, and from thence made his escape into France: there he lived without character and without employment, till entering into the schemes which he has since laid open, and talking freely of them, it came to the ears of the Regent, who employing some men to talk with him, and they finding his head turned for great projects, he was heard by more considerable persons, and finally by the Regent himself, with whom he established these just maxims as fundamentals; namely: That a fund of credit was equal to a fund of money. That credit might be raised upon personal funds, not upon the publick, because the power was absolute. Upon these foundations he first erected the Royal bank; which, having been done by a subscription, and having a sufficient fund in specie to answer all the bills on demand, began to take, and having stood several severe shocks from the attempts of merchants and others to ruin its reputation, established itself upon the punctual discharge of its first credit, till by time it increased to such a magnitude as we now see it, being able to pay bills as was tried by its enemy for a million and a quarter, sterling, in one day. This Bank, being thus past the first hazards, stands too fast for the power of art to shake it; and immense sums being lodged with them, their payments are much safer than the money in any man's pocket.
"This raised Mr. Law's fame to the pitch it is now at, and set him above the power of all his enemies. From thence he grounded his Mississippi project, got it filled up, joined it to the East-India Company; undertook the whole coinage, embraced several other projects, as a Royal fishery, the Tobacco farm, and at last the trade to Norway for naval stores, deals, timber, &c.
"It is true that a stock advanced to 2000 per cent. may undertake any thing; but depend upon it, a stock advanced to 2000 per cent. upon no foundation, must at last come to nothing, and the only use is to raise estates upon the first advance of it; and perhaps it may appear at last, that the imaginary value of the stock declining in the humours of the times, it will by no means be able to support itself, which, whenever it happens, blows it up all at once."
Such were the prophetic reasonings of our observer, which the event fully justified by the ruin of thousands in England. To authenticate this assertion, I shall present the reader a succession of paragraphs from the Newspapers, pointing out the ramifications from the parent stock, and the facility with which the publick were imposed upon.
"Here has been the oddest bite put upon the Town that ever was heard of. We having of late had several new subscriptions set on foot, for raising great sums of money for erecting Offices of Insurance, &c.; at length, some gentlemen, to convince the world how easy it was for projectors to impose upon mankind, set up a pretended office in Exchange-alley, for the receiving subscriptions for raising a million of money to establish an effectual Company of Insurers as they called it. Upon which, the day being come to subscribe, the people flocked in, and paid down 5s. for every 1000l. they subscribed, pursuant to the Company's proposals; but, after some hundreds had so subscribed (that the thing might be fully known), the gentlemen were at the expence to advertise, that the people might have their money again without any deductions; and to let them know that the persons who paid in their money, contented themselves with a fictitious name, set by an unknown hand to the receipts delivered out for the money so paid in; and that the said name was composed only of the first letters of six persons names concerned in the said publication." Weekly Packet, January 2, 1719-20.
The original Weekly Journal immediately after observes: "It was the observation of a very witty knight many years ago, that the English people were something like a flight of birds at a barn door; shoot among them and kill ever so many, the rest shall return to the same place in a very little time, without any remembrance of the evil that had befallen their fellows. Thus the English, though they have had examples enough in these latter times of people ruined by engaging in Projects, yet they still fall in with the next that appears. Thus, after Neal's Lottery, how many were trumped up in a year or two's time, till the Legislature itself was fain to suppress them. Sometime after this, there was a new project set on foot for the prodigious improvement of small sums of money, in which they who put in, for example, 5l. must by the proposal make above 100l. of it in a year's time. People never examined how they could perform this proposal; but, blind with the hopes of gain, threw their money into the Denmark-court Office in so extravagant a manner, that, if the humour could have gone on, they must have had passed through their hands in a few months half the cash of the nation. The success of this Office begot many more in all parts of the Town, all which ended in the ruin of many families.
"Our cunning men are now carrying on a cause very much like these that are past, but infinitely more extravagant than all of them; though I believe it will prove less detrimental than any of them, because they are already multiplied to that degree, that the sharpers, alias projectors, are infinitely too numerous for the bubbles; since the Stocks they have proposed to raise amounts to 28,000,000l.; above twice as much as the current coin of the Nation, nay more than the third-part of all the payments the circulation of that current coin performs in the whole kingdom; but, because the placing these projects all in one view must certainly be useful to your readers, I here send you an abstract of them.
"For a general insurance on houses and merchandize, at the three Tuns, Swithin's-alley, 2,000,000l.
For building and buying ships to let or freight, at Garraway's, Exchange-alley, 1,200,000l.
To be lent by way of Loan on Stock at Garraway's, 1,200,000l.
For granting annuities by way of survivorship, and providing for widows, orphans, &c. at the Rainbow, Cornhill, 1,200,000l.
For the raising the growth of raw silk, 1,000,000l.
For lending upon the deposit of goods, stock, annuities, tallies, &c. at Robin's, Exchange-alley, 1,200,000l.
For settling and carrying on a trade to Germany, 1,200,000l. at the Rainbow.
For insuring of houses and goods from fire, at Sadlers-hall, 2,000,000l.
For carrying on a trade to Germany, 1,200,000l. at the Virginia Coffee-house.
For securing goods and houses from fire, at the Swan and Rummer, 2,000,000l.
For buying and selling of estates, public stocks, government securities, and to lend money, 3,000,000l.
For insuring ships and merchandize, 2,000,000l. at the Marine Coffee-house, Birchin-lane.
For purchasing government securities, and lending money to merchants to pay their duties with, 1,500,000l.
For carrying on the undertaking business, for furnishing funerals, 1,200,000l. at the Fleece-tavern, Cornhill.
For carrying on trade between Great-Britain and Ireland, and the Kingdoms of Portugal and Spain, 1,000,000l.
For carrying on the coal-trade from Newcastle to London, 2,000,000l. Cooper's Coffee-house.
For preventing and suppressing of thieves and robbers, and for insuring all persons goods from the same, 2,000,000l. at Cooper's."
Here ceases the enumeration of the Journalist, but his hiatus shall be supplied faithfully from other original advertisements.
A grand Dispensary, 3,000,000l. at the Buffaloe's-head.
Subscription for a sail-cloth manufactory in Ireland, at the Swan and Hoop, Cornhill.
4,000,000l. for a trade to Norway and Sweden, to procure pitch, tar, deals, and oak, at Waghorn's.
For buying lead mines and working them, Ship-tavern.
A subscription for manufacturing Ditties or Manchester stuffs of thread and cotton, Mulford's.
4,000,000l. for purchasing and improving commons and waste lands, Hanover Coffee-house.
A Royal fishery, Skinners-hall.
A subscription for effectually settling the Islands of Blanco and Saltortugas.
For supplying the London-market with cattle, Garraway's.
For smelting lead-ore in Derbyshire, Swan and Rummer.
For manufacturing of muslins and calico, Portugal Coffee-house.
2,000,000l. for the purchase of pitch, tar, and turpentine, Castle-tavern.
2,000,000l. for importing walnut-tree from Virginia, Garraway's.
2,000,000l. for making crystal mirrors, coach glasses, and for sash windows, Cole's.
For purchasing tin and lead mines in Cornwall and Derbyshire, Half-moon Tavern.
For preventing the running of wool, and encouraging the wool manufactory, King's Arms.
For a manufactory of rape-seed oil, Fleece-tavern.
2,000,000l. for an engine to supply Deal with fresh water, &c. Black Swan.
2,000,000l. at the Sun Tavern, for importing beaver fur.
For making of Joppa and Castile soap, Castle Tavern.
4,000,000l. for exporting woollen stuffs, and importing copper, brass, and iron, and carrying on a general foundery, Virginia Coffee-house.
For making pasteboard, packing-paper, &c. Montague Coffee-house.
A Hair copartnership, permits 5s. 6d. each, at the Ship Tavern, Paternoster-row; "by reason all places near the Exchange are so much crowded at this juncture."
For importing masts, spars, oak, &c. for the Navy, Ship Tavern.
"This day, the 8th instant, at Sam's Coffee-house, behind the Royal Exchange, at three in the afternoon, a book will be opened for entering into a joint-copartnership for carrying on a thing that will turn to the advantage of the concerned."
For importing oils and materials for the woollen manufactory, permits 10s. each, Rainbow.
For a settlement in the Island of St. Croix, Cross Keys.
Improving the manufacture of silk, Sun Tavern.
For purchasing a Manor and Royalty in Essex, Garraway's.
5,000,000l. for buying and selling lands, and lending on landed security, Garraway's.
For raising and manufacturing madder in Great Britain, Pennsylvania Coffee-house.
2000 shares for discounting pensions, &c. Globe Tavern.
4,000,000l. for improving all kinds of malt-liquors, Ship Tavern.
2,500,000l. for importing linens from Holland, and Flanders lace.
A Society for landing and entering goods at the Custom-house on commissions, Robin's.
For making of glass and bottles, Salutation Tavern.
The grand American fishery, Ship and Castle.
2,000,000l. for a friendly Society, for purchasing merchandize, and lending money, King's-arms.
2,000,000l. for purchasing and improving Fens in Lincolnshire, Sam's.
Improving soap-making, Mulford's Coffee-house.
For making English pitch and tar, Castle Tavern.
4,000,000l. for improving lands in Great-Britain, Pope's-head.
A woollen manufactory in the North of England, Swan and Rummer.
A paper manufactory, Hamlin's Coffee-house.
For improving gardens, and raising fruit-trees, Garraway's.
For insuring Seamen's wages, Sam's Coffee-house.
The North-America Society, Swan and Rummer.
The gold and silver Society.
2,000,000l. for manufacturing baize and flannel, Virginia Coffee-house.
For extracting silver from lead, Vine Tavern.
1,000,000l. for manufacturing China and Delft wares, Rainbow.
4,000,000l. for importing tobacco from Virginia, Salutation Tavern.
For trading to Barbary and Africa, Lloyd's.
For the clothing and pantile trade, Swan and Hoop.
Making iron with pit-coal.
A copartnership for buying and selling live hair, Castle Tavern.
Insurance office for horses, dying natural deaths, stolen, or disabled, Crown Tavern, Smithfield.
A rival to the above for 2,000,000l. at Robin's.
Insurance office for servants' thefts, &c. 3000 shares of 1000l. each, Devil Tavern.
For tillage and breeding cattle, Cross-keys.
For furnishing London with hay and straw, Great James's Tavern.
For bleaching coarse sugars to a fine colour without fire or loss of substance, Fleece.
1,000,000l. for a perpetual motion, by means of a wheel moving by force of its own weight, Ship Tavern.
A copartnership for insuring and increasing children's fortunes, Fountain Tavern.
4,000,000l. for manufacturing iron and steel, Black Swan Tavern.
2,000,000l. for dealing in lace, &c. &c. &c. Sam's.
10,000,000l. for a Royal fishery of Great-Britain, Black Swan.
2,000,000l. to be lent upon pledges, Blue-coat Coffee-house.
Turnpikes and wharfs, Sword-blade Coffee-house.
For the British alum works, Salutation.
2,000,000l. for erecting salt-pans in Holy Island, John's Coffee-house.
2,000,000l. for a snuff manufactory, Garraway's.
3,000,000l. for building and rebuilding houses, Globe Tavern.
The reader will find that I have given him the titles of ninety of these symptoms of public phrenzy, exclusive of the South-Sea scheme[118:A]. Such of the projects as have not mentioned millions, appear to have been forlorn wights, who were contented perforce to receive the few loose pounds left in the pockets of the subscribers, by those whose aggregate sums amount to one hundred and ten millions.
The sufferers in this monstrous scene of wickedness and folly could not plead ignorance or deception; the baits were so clumsily affixed to the hooks, that the Journalists were continually employed in warning the publick, sometimes seriously, and frequently piercing them with the keenest shafts of ridicule: Sir Richard Steele endeavoured to warn the maniacs of the South-Sea Stock, fruitlessly.
"Notwithstanding what has been published, that the annuitants would not subscribe their annuities in the South-Sea Stock, we find that they now run in crowds to subscribe them, though they know not how much Stock they are to have. Some people say as much as will make 30 years' purchase; but this is uncertain. It was, indeed, expected that before the Company would take those subscriptions, they would have given notice of it in the Gazette, and have put up advertisements at their house and at the Royal Exchange, at least eight days before; but it seems the Annuitants have such a good opinion of the Directors of the South-Sea, that without this they come and surrender their ALL as it were, leaving it to the pleasure, discretion, and honour of the Directors, to give them as much Stock as they shall think fit. The like, we suppose, never was heard of before. It is said there has already been above 300,000l. per annum subscribed. The reason of people running to it in such haste is, that it has been whispered the first subscribers would receive a greater advantage than those that shall stay longer. A million has also been subscribed, at the rate of 400l. per cent. the money to be paid in three years' time, but they are to have the benefit of the next half year's dividend; by this last subscription the Company will get 3,000,000l. of money; and it is said they will shortly take another subscription at 500l. to pay in seven years, and to have the next half year's dividend; by which means they will get, together with those before, above 11 millions of money. In all appearance, the Company will carry every thing before them; for we see that, notwithstanding what has been said against their Stock by Sir Richard Steele and others, that people are as eager for it as if nothing had been said against it. Those fine writers might as well have attempted to stop the tide under London-bridge, as to stop the people from buying or subscribing in that Stock: as to the first of these, they know something of what they do, but the Annuitants run blindfold into the hands of the Directors, as if they should say: 'Gentlemen, We have so many 1000l. or 100l. per annum in the annuities for 99 years; we know you to be both just and honourable, give us as much of your South-Sea Stock as you please, we oblige ourselves to be content with whatever you shall give us;' and this is, in short, the sum and substance of the case." London Journal, May 7, 1720.
The Weekly Packet of the same date adds: "The subscriptions that were lately carried on for raising more millions of money than all Europe can afford, are not as yet quite dead, but are very much withered by the breath of the Senate, or a nipping blast from Westminster. It is observed, that many of those projects are so ridiculous and chimerical, that it is hard to tell which is most to be wondered at, the impudence of those that make the proposals, or the stupid folly of those that subscribe to them; yet many a gudgeon hath been caught in the net, though one would think that, with half an eye, they might discern the cheat. When these bites can no longer go on with their bubbles, happy will be the consequence to many honest but unthinking men that stand in danger to be drawn in by them; but unhappy to themselves that they have been used to such dishonest ways of living, and hardly will take up with any course of life that is not so; insomuch that it is feared, as one says, that many of them will go out a marauding; then stand clear the Bristol Mail."
On the 4th of June, the Newspapers intimated the intentions of Parliament, directed to the prevention of any farther mischief from Schemes and Stock-jobbing; and yet, so willing were people to be ruined, that the London Journal of the 11th declares: "The hurry of our Stock-jobbing bubblers, especially, has been so great this week, that it has even exceeded all that ever was known before. The subscriptions are innumerable; and so eager all sorts of people have been to engage in them, how improbable or ridiculous soever they have appeared, that there has been nothing but running about from one Coffee-house to another, and from one Tavern to another, to subscribe, and without examining what the proposals were. The general cry has been, 'For G—'s sake let us but subscribe to something, we do not care what it is!' So that, in short, many have taken them at their words, and entered them adventurers in some of the grossest cheats and improbable undertakings that ever the world heard of: and yet, by all these, the projectors have got money, and have had their subscriptions full as soon as desired."
The auspicious 24th of June at length arrived, which gave the force of law to the following words: "And it is further enacted, by the authority aforesaid, that if any Merchant or Trader, after the 24th day of June 1720, shall suffer any particular damage in his, her, or their trade, commerce, or their lawful occasions, by occasion or means of any undertaking, or attempt, matter, or thing, by this Act declared to be unlawful as aforesaid, and will sue to be relieved therein: then, and in every such case, such Merchant or Trader shall and may have his remedy for the same, by an action or actions, to be grounded upon this Statute, against the persons, societies, or partnerships, or any of them, who, contrary to this Act, shall be engaged or interested in any such unlawful undertaking or attempt; and any such action and actions shall be heard and determined in any of His Majesty's Courts of Record, wherein no Essoign shall be allowed."
This necessary Act was faintly opposed in an attempt to evade its penalties, by the projectors terming themselves and their Subscribers co-partners; but the interposition of the Legislature stamped all their schemes with discredit, and the elopement of several principals utterly destroyed the contrivances of those who dared popular vengeance by keeping their posts.
"The destruction of the bubbles has been a very heavy blow to many families here, and some are entirely ruined by them. There appeared the utmost consternation in Exchange-alley, the day the Act for suppressing them took place, which, because of the confusion and terror it struck among those brethren in iniquity, they called the day of judgment. It might be well indeed with many of them, if no future inquisition would be made into their conduct in this matter, though, if so, they would not wholly escape; for many of those who have been the most assiduous in drawing other poor wretches in to their ruin have, besides their wealth, acquired an infamy they can never wipe off; and as the rage of those who have drunk deep of the delusion is at this time pretty great, the others do not seem fond of appearing too much in public for the present; they being followed with the reproaches, threats, and bitterest curses, of the poor people they have deluded to their destruction. So that if all of them escape the resentment of the populace, it must be more owing to the care of the Magistracy, than the want of will or desperation in the injured." London Journal, July 2.
A waggish Scale-maker ventured, at the same time, into Exchange-alley, at the very height of business, with his right hand extended, holding a pair of scales, exclaiming, "Make room for Justice: I sell Justice, who buys Justice here?" And the butchers' boys, actuated by the same, though less civilized principle, made a tumultuous sham funeral for the entertainment of the vicinity.
Although this great point was accomplished, the grand fortress yet remained to be subdued.
Applebee's Journal of August 5, says, "Our South-sea equipages increase every day; the City ladies buy South-Sea jewels; hire South-Sea maids; and take new country South-Sea houses; the gentlemen set up South-Sea coaches, and buy South-Sea estates, that they neither examine the situation, the nature or quality of the soil, or price of the purchase, only the annual rent and the title: for the rest, they take all by the lump, and give 40 to 50 years' purchase. This has brought so many estates to market, that the number of land-jobbers begin to increase to a great degree, almost equal to the Stock-jobbers we had before."
On the 10th of August, the Lords Justices gave positive orders to the Attorney-General, to bring Writs of scire facias against the York-buildings Company, the Lustring, the English Copper, and Welsh Copper and Lead Companies, or any others that persisted in their endeavours to evade the Law; and the Royal proclamation issued in aid of it.
Government received numberless adventitious aids in their exertions. Pamphlets, paragraphs, and calculations, proving the losses that must follow from the monstrous price of 1000 per cent. for South-Sea Stock; issued in shoals from the press; and, as usual, much malignity and some wit composed the ingredients. One scrap of doggrel may be worth inserting: