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CHAPTER XVIII: Walpole

George I., king of England, died in 1727; but his death made no change in the politics of the cabinet, Sir Robert Walpole continuing at the head of affairs after the accession of George II. Some few years previous to the death of his father, the nation had experienced much loss and confusion by the failure of the "South sea scheme," a commercial speculation on so extensive a scale that it had well nigh produced a national bankruptcy. It was a close imitation of the celebrated "Mississippi scheme" which had a short time before speculators. sippi scheme" which had a short time before involved in ruin thousands of Gallic The pacific disposition of cardinal Fleury, prime minister of France, and the no less pacific views of Walpole, for nearly twenty years secured the happiness and peace of both countries. But the pugnacious spirit of the people and the remembrance of old grievances on both sides led to new altercations with the Spaniards, which were greatly aggravated by their attacking the English employed in cutting log-wood in the bay of Campeachy. A war was the consequence, and France became the ally of Spain, A. D. 1739.

A small force being sent to the West Indies, under admiral Vernon, the important city of Porto Bello was captured, which success induced the English to send out other armaments upon a larger scale. One of these, under commodore Anson, sailed to the South Seas, and after encountering severe storms, by which his force was much diminished, he ravaged the coasts of Chili and Peru, and eventually captured the rich galleon annually bound from Acapulco to Manilla. The other expedition was directed against Carthagena; but it proved most disastrous owing to the mismanagement and disputes of the commanders, and to the unhealthiness of the climate, not less than 15,000 troops having fallen victims to disease.