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Updated: July 23, 2025
The debates chiefly turned upon the pension bill, the number of land forces, and a motion made by lord Bathurst for an account of the produce of the forfeited estates which had belonged to the directors of the South-Sea company.
But the bankruptcy of goldsmiths and the sword-blade company, from the fall of South-Sea stock, occasioned such a run upon the bank, that the money was paid away faster than it could be received from the subscription.
Swim out after a storm at Dove Harbor, topping the low crests, diving through the high ones, and you feel yourself as veritable a South-Sea Islander as if you were to dine that day on missionary instead of mutton.
There is a vast field of inquiry open on this subject yet; in fact, a "South-sea of discovery," and till we are sure of our facts, it were well that we were cautious in our conclusions. The times are gone by when the clergyman uttered the authoritative words of superior knowledge to an ignorant and unquestioning audience.
Into the boat tumbled a British sailor named Pearce, a young twenty-year-old Englishman named Atkin, and three brown South-Sea Island boys from the missionary training college for native teachers on Norfolk Island, and their leader, Bishop Patteson, the white man who, having faced the clubs of savages on a score of islands, never flinched from walking into peril again to lead them to know of "the best Man in the world, Jesus Christ."
The earls of Dorset and Bridgewater were promoted to the title of dukes; lord viscount Castleton was made an earl; Hugh Boscawen was created a baron, and viscount Falmouth; and John Wallop baron, and viscount Lymington. While the king was involved at Hanover in a labyrinth of negotiations, the South-Sea scheme produced a kind of national delirium in his English dominions.
Altogether, they seemed a much lower race of people than the inhabitants of the South-Sea Islands whom Cook afterwards visited. One of the main objects that Mr Banks and Dr Solander had in view in going with Captain Cook on this voyage was to collect specimens of plants and insects in the new countries they were about to visit.
South-Sea stock began to fall, and crowds of people called in their money from the bank.
The descent into hell, for some similar purpose, is common in the epics of other races, such as the Finns, and the South-Sea Islanders. From Teiresias Odysseus learned that, if he would bring his companions home, he must avoid injuring the sacred cattle of the Sun, which pastured in the Isle of Thrinacia.
At this period, the secret committee informed the house of commons that they had already discovered a train of the deepest villany and fraud that hell ever contrived to ruin a nation, which in due time they would lay before the house; in the meanwhile, they thought it highly necessary to secure the persons of some of the directors and principal officers of the South-Sea company, as well as to seize their papers.
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