Page:History of England (Macaulay) Vol 5.djvu/285

 the inventor of Exchequer Bills; and they were popularly called Montague's notes. He had induced the Parliament to enact that those bills, even when at a discount in the market, should be received at par by the collectors of the revenue. This enactment, if honestly carried into effect, would have been unobjectionable. But it was strongly rumoured that there had been foul play, peculation, even forgery. Duncombe threw the most serious imputations on the Board of Treasury, and pretended that he had been put out of his office only because he was too shrewd to be deceived, and too honest to join in deceiving the public. Tories and malecontent Whigs, elated by the hope that Montague might be convicted of malversation, eagerly called for inquiry. An inquiry was instituted; but the result not only disappointed but utterly confounded the accusers. The persecuted minister obtained both a complete acquittal, and a signal revenge. Circumstances were discovered which seemed to indicate that Duncombe himself was not blameless. The clue was followed; he was severely cross-examined; he lost his head; made one unguarded admission after another, and was at length compelled to confess, on the floor of the House, that he had been guilty of an infamous fraud, which, but for his own confession, it would have been scarcely possible to bring home to him. He had been ordered by the Commissioners of the Excise to pay ten thousand pounds into the Exchequer for the public service. He had in his hands, as cashier, more than double that sum in good milled silver. With some of this money he bought Exchequer Bills which were then at a considerable discount; he paid those bills in; and he pocketed the discount, which amounted to about four hundred pounds. Nor was this all. In order to make it appear that the depreciated paper, which he had fraudulently substituted for silver, had been received by him in payment of taxes, he had employed a knavish Jew to forge endorsements of names, some real and some imaginary. This scandalous story, wrung out of his own lips, was heard by the opposition with consternation and shame, by the ministers and their friends with vindictive exultation. It was resolved, without any division, that