Page:History of England (Macaulay) Vol 4.djvu/488

 Jacobite emissary much less artful than himself, and had, for the purpose of getting at the bottom of the new scheme of policy devised by Middleton, pretended to be well disposed to the cause of the banished King, that an exaggerated account of what had passed had been sent to Saint Germains, and that there had been much rejoicing there at a conversion which soon proved to have been feigned. It seems strange that such a conversion should even for a moment have been thought sincere. It was plainly Caermarthen's interest to stand by the sovereigns in possession. He was their chief minister. He could not hope to be the chief minister of James. It can indeed hardly be supposed that the political conduct of a cunning old man, insatiably ambitious and covetous, was much influenced by personal partiality. But, if there were any person to whom Caermarthen was partial, that person was undoubtedly Mary. That he had seriously engaged in a plot to depose her, at the risk of his head if he failed, and with the certainty of losing immense power and wealth if he succeeded, was a story too absurd for any credulity but the credulity of exiles.

Caermarthen had indeed at that moment peculiarly strong reasons for being satisfied with the place which he held in the counsels of William and Mary. There is but too strong reason to believe that he was then accumulating unlawful gain with a rapidity unexampled even in his experience.

The contest between the two East India Companies was, during the autumn of 1693, fiercer than ever. The House of Commons, finding the Old Company obstinately averse to all compromise, had, a little before the close of the late session, requested the King to give the three years' warning prescribed by the Charter. Child and his fellows now began to be seriously alarmed. They expected every day to receive the dreaded notice. Nay, they were not sure that their exclusive privilege might not be taken away without any notice at all; for they found that they had, by inadvertently omitting to pay the tax lately imposed on their stock at the precise time fixed by law, forfeited their Charter; and, though it would, in ordinary circumstances, have been thought cruel in the government to take advantage of such a slip, the public was not inclined to allow