Memoirs of My Life and Writings | Page 5

concerns at home were managed by his mother Hester, an active and notable woman. Her second husband was a widower of the name of Acton: they united the children of their first nuptials. After his marriage with the daughter of Richard Acton, goldsmith in Leadenhall-street, he gave his own sister to Sir Whitmore Acton, of Aldenham; and I am thus connected, by a triple alliance, with that ancient and loyal family of Shropshire baronets. It consisted about that time of seven brothers, all of gigantic stature; one of whom, a pigmy of six feet two inches, confessed himself the last and least of the seven; adding, in the true spirit of party, that such men were not born since the Revolution. Under the Tory administration of the four last years of Queen Anne (1710-1714) Mr. Edward Gibbon was appointed one of the Commissioners of the Customs; he sat at that Board with Prior; but the merchant was better qualified for his station than the poet; since Lord Bolingbroke has been heard to declare, that he had never conversed with a man, who more clearly understood the commerce and finances of England. In the year 1716 he was elected one of the Directors of the South Sea Company; and his books exhibited the proof that, before his acceptance of this fatal office, he had acquired an independent fortune of sixty thousand pounds.
But his fortune was overwhelmed in the shipwreck of the year twenty, and the labours of thirty years were blasted in a single day. Of the use or abuse of the South Sea scheme, of the guilt or innocence of my grandfather and his brother Directors, I am neither a competent nor a disinterested judge. Yet the equity of modern times must condemn the violent and arbitrary proceedings, which would have disgraced the cause of justice, and would render injustice still more odious. No sooner had the nation awakened from its golden dream, than a popular and even a parliamentary clamour demanded their victims: but it was acknowledged on all sides that the South Sea Directors, however guilty, could not be touched by any known laws of the land. The speech of Lord Molesworth, the author of the State of Denmark, may shew the temper, or rather the intemperance, of the House of Commons. "Extraordinary crimes (exclaimed that ardent Whig) call aloud for extraordinary remedies. The Roman lawgivers had not foreseen the possible existence of a parricide; but as soon as the first monster appeared, he was sewn in a sack, and cast headlong into the river; and I shall be content to inflict the same treatment on the authors of our present ruin." His motion was not literally adopted; but a bill of pains and penalties was introduced, a retroactive statute, to punish the offences, which did not exist at the time they were committed. Such a pernicious violation of liberty and law can be excused only by the most imperious necessity; nor could it be defended on this occasion by the plea of impending danger or useful example. The legislature restrained the persons of the Directors, imposed an exorbitant security for their appearance, and marked their characters with a previous note of ignominy: they were compelled to deliver, upon oath, the strict value of their estates; and were disabled from making any transfer or alienation of any part of their property. Against a bill of pains and penalties it is the common right of every subject to be heard by his counsel at the bar: they prayed to be heard; their prayer was refused; and their oppressors, who required no evidence, would listen to no defence. It had been at first proposed that one-eighth of their respective estates should be allowed for the future support of the Directors; but it was speciously urged, that in the various shades of opulence and guilt such an unequal proportion would be too light for many, and for some might possibly be too heavy. The character and conduct of each man were separately weighed; but, instead of the calm solemnity of a judicial inquiry, the fortune and honour of three and thirty Englishmen were made the topic of hasty conversation, the sport of a lawless majority; and the basest member of the committee, by a malicious word or, a silent vote, might indulge his general spleen or personal animosity. Injury was aggravated by insult, and insult was embittered by pleasantry. Allowances of twenty pounds, or one shilling, were facetiously moved. A vague report that a Director had formerly been concerned in another project, by which some unknown persons had lost their money, was admitted as a proof of his actual guilt. One man was ruined because he had dropped a foolish speech, that his horses should feed upon gold; another because he