148

ESSAY UPON LOANS.

her life." In the following passage, he pays a just tribute to the merits of the late Treasurer, who, says he, has done honorably, has managed the finances with great and unusual dexterity, and has acquired thereby the fame of the best officer that has for many years acted in that post. I could be content to spend a whole page in his praise. The nation is infinitely obliged to him; and his royal mistress, no doubt, has received equal satisfaction in his conduct, as appears by her keeping him so long in a post of so great trust." But after all, he adds, credit is not entailed upon names and families; but will exist so long as the parliament supplies funds to meet the nation's exigencies. The work is dexterously written, and calculated to serve the new ministers, although without that ostensible design.

The success which attended the foregoing treatise, induced the author to follow it up soon afterwards, by "An Essay upon Loans; or an Argument, proving that substantial Funds settled by Parliament, with the Encouragement of Interests, and the Advances of Prompt Payment usually allowed, will bring in Loans of Money to the Exchequer, in spite of all the Conspiracies of Parties to the contrary: while a just, honourable, and punctual Performance on the of part the Government, supports the Credit of the Nation. By the Author of the Essay upon Credit. London: 1710." 8vo. pp. 27. The object of the present work was to dispel the alarm which still continued, in consequence of the backwardness of the Whigs to invest their money in government securities. He reasons upon the inefficacy of a scheme to distress the ministers, that would militate so strongly against their own interest; a consideration which the zeal of party would never surmount. He also shews, that in whatever way they dispose of their money, it must eventually flow into the public Exchequer. The worst consequence they can do by hanging back, is to raise the rate of interest, which the nation would have to defray. "But there need be no apprehension

PUBLICATION OF "THE EXAMINER."

149

of this; for, as the necessity of lending will prompt on the one hand, the undoubted security of parliamentary credit removes all the jealousies our party-men would raise on the other. While the parliament supports credit, and good funds support the parliament, money will come in as naturally as fire ascends, or water flows; nor will it be in the power of our worst enemies to prevent it." As a means to smooth the path of the government in raising money upon loans, this is a judicious and practical improvement of the author's former treatise. At the end of the work, he says, "If the author of this appears again in public, it may be upon the subject of Funds." The present writer is not aware of such a treatise; and perhaps it was rendered unnecessary by the success of Harley's scheme for a lottery.

Notwithstanding the extensive influence employed to support the new minister, and the real ability which many of them possessed, yet it required their utmost exertions to withstand the well-earned reputation of their predecessors, which made its way to the cool and unbiassed judgment of men, who pay but little regard to the clamour of a mob. As the talent of the press was now decidedly with the Whigs, who wielded it with great power and effect, the ministers resolved to counteract its influence by a similar appeal to the public. For this purpose, they set on foot "The Examiner," a weekly paper, that was to exalt their own character for wisdom and integrity at the expence of their predecessors, and to give a colouring to the public transactions, as the exigencies of the government required. The ablest men of their party having been enlisted in the service, the first number appeared August 3, 1710, and opened with a sarcasm upon the Review, the Observator, and the Tatler. (B) The influence of these works,

(B) "That my fellow-writers may not be alarmed at the sight of a new Paper, I promise beforehand not to encroach upon any of their provinces. I shall leave the African Company and the Coals to the Review: I will not touch one drop of the Observator's October; he and his countryman shall

150

WRITERS OF THE EXAMINER."

and the antidote that was to be provided, are modestly set forth: "These sort of writings, though they are in contempt among the few that judge well, yet have their influence upon the generality of readers; and many of them are adapted, by the cunning men who contrive them, to the capacities of the weak, who are to be misled by them. Some of these Papers I intend to examine, and set people right in their opinions." In an early stage of the publication, appeared the famous "Letter to the Examiner," the production probably of Mr. St. John, and distinguished by the keenness of its invective. He denounces the Review, the Observator, and the Tatler, as the chief organs of the fallen ministry; and says of the last, he "resembles the famous Censor of Rome in nothing, but espousing the cause of the vanquished." Swift, the writer of the fifteenth number, affects to pour contempt upon the two former, and calls them "fanaticks by profession;" yet he acknowledges the mischief they had done to his party, "the mock authoritative manner of the one, and the insipid mirth of the other, however insupportable to reasonable ears, being of a level with great numbers among the lowest part of mankind." It was this reason, he says, that moved him to take the matter out of their hands; but with all his vapouring, he managed it with so little decency as to bring no credit to his party. The "Examiner" was confided in the first instance to Dr. William King, who, with Prior, Friend, and Atterbury, wrote the early numbers. After the thirteenth, he was superseded by Swift, who wrote thirty-three numbers in succession, when he relinquished it to Mrs. Manley, who wrote the remaining papers in the first volume. It was then entrusted to Oldisworth, but under the control of Swift, who often speaks of him contemptuously enough; and

bouze it all up the next election: all descriptions of stage-players and statesmen, the erecting of green-houses, the forming of constellations, the beau's red-heels, and the furbelows of the ladies, shall remain entire to the use and benefit of their first proprietor."

SWIFT'S POLITICAL CONDUCT.

151

under this management it continued to the close of the reign, when it had reached to six volumes. The last number was published July 26, 1714. From the known talents of the early writers in the work, the ministers had just reason to calculate upon its effect, and that no sophistry would be spared to make the worse cause appear the better; but the writers disgraced their talents by the scurrility of their pen, and by the rancour with which they attacked both their political and literary opponents. (c)

The efforts of the paper just named, were opposed in

(c) Swift, who was the principal mover in the Examiner, wrote with a malignity against Steele, that can only be accounted for by his political connexions. He had always professed himself a Whig, but his contempt for the Dissenters, of whom he appears to have known nothing, made him a high-churchman. Of his political virtue, it is impossible to entertain a very high opinion. He avowed his purpose of making his fortune by means of one party or the other, and made the first trial with the Whigs. Lord Godolphin, to whom he offered his services, had a great contempt for hireling writers, and rejected him in a manner that kindled his resentment. "My lord-treasurer," says he, "received me with a great deal of coldness, which has enraged me so, I am almost vowing revenge." This temper seems to have increased upon him; for, after "talking treason heartily for an hour and a half with Lord Radnor," he says, "I am come home, rolling resentments in my mind, framing schemes of revenge; full of which (having written down some hints) I go to bed." Speaking of the Whigs, he says, "But who the devil cares what they think? Rot 'em, for ungrateful dogs; I'll make them repent their usage before I leave this place." Meeting with disappointment from the Whigs, he faced about to the new ministers, with whom he found a more profitable market; and therefore, sold himself to the dirty work of abusing their political opponents. As some of the ministers had a taste for literature, and a contempt for religion, a man of Swift's character found an easy access to their society; and he was indulged in his vagaries, which sometimes mounted to the highest pitch of pride and insolence. Swift always paid a greater deference to talent than to station, and exacted it in behalf of others, as well as himself. He rejected with indignation a bank note of fifty pounds, sent him by Harley, looking forward to a more permanent reward for his services; but when the ministers recommended him for a bishopric, the Archbishop of York represented him to the Queen as an unfit person for such an office, and he was passed over. This interference he ever afterwards resented against that prelate, and was obliged to sit down with the deanery of St. Patrick's.

152 DE FOE'S REMARKS UPON THESE WORKS.

powerful language, aided by wit and argument, in "The Whig Examiner," a paper by Addision; of which only five numbers were published, between the 14th of September, and the 12th of October. Swift exults in its death, as a triumph over a formidable enemy; but it was only laid down to make way for "The Medley." This paper was projected by Arthur Maynwaring, a gentleman of great accomplishments, and a considerable critic, and well versed in the politics of the day. The first number appeared the 5th of October, 1710, and it closed with the 45th, which was published the 6th of August, 1711, the "Examiner” having promised to lay down his pen. Oldmixon had a considerable share in the "Medley ;" and Steele, Kennet and Anthony Henley, each contributed a paper. After an interval of several months, it was revived March 3, 1712, but finally expired upon the 4th of August in the same year, when it had reached, also, to forty-five numbers. The first "Medleys" were written with much good sense, as well as strength of argument; but this, like the "Examiner," was disfigured by its scurrility. They were both collected into small volumes, soon after publication, that in this more stable form, they might give a more permanent influence to the purposes of party. Upon these rival papers, De Foe has the following remarks: "I remember, we had two party authors who vexed the town awhile, though lately they have scolded themselves out of breath, and have left off: I mean the

Examiner," and the "Medley." Between these, nothing was more frequent, except giving one another the lie, (to their mutual reputation) than to reproach each other with dullness. The authors were men of wit enough on either side, and there are many other faux-pas to be found in them, rather than dullness."*

* Review, viii. 255.