LIII. 1848. 16. yielding of lished Governments to opinions. So completely had the minds of men in Germany CHAP. been prepared by these causes, and the skilful use which the Liberal leaders in Switzerland and Italy had made of them, for a great and general convulsion, that when the General news arrived of the revolution in Paris and the fall of the estab Louis Philippe, it seemed as if the match had been suddenly applied to a train previously laid, with branches in the French every direction. Unlike the first French Revolution, when the progress of the new opinions had been slow, and they had to surmount vigorous resistance from the privileged classes at every step, it was immediate and almost universal. Instead of taking up arms, as they had done both in 1792 and 1830, in their own defence, the Governments of the adjoining states at once yielded to the tempest, and sought only, by immediately bending, to escape its fury. Great resistance was made in several quarters in the end, and the conservative cause was generally at last triumphant; but in the beginning nothing of the kind was thought of, and the annals of the German states for some months are nothing but a series of encroachments imperiously made by the revolutionists, and concessions weakly yielded by the sovereigns. 17. survives the BELGIUM was the country where, from proximity of situation, and the news of the Paris convulsion being first Belgium received, the shock was earliest felt, and where at the shock same time, from the government being of a revolutionary character, it might be expected to be most violent. The effects of the blow, however, were lessened, and the throne of Leopold surmounted the concussion, partly by moderation on the part of the Liberal leaders, partly by wisdom and address on that of the sovereign. Knowing that he had no legal title to the throne, unless his election by the people could be esteemed such, Leopold most prudently took the initiative. No sooner did the intelligence arrive of the fall of Louis Philippe, than he convoked the council Feb. 26. of his ministers, and after reminding them that the throne of Belgium had been none of his seeking, offered to resign LIII. 1848. Feb. 27. CHAP. if his ministers thought it would avert calamity, or conduce to the public welfare. The ministers replied that the form of a constitutional monarchy was the one best adapted to the wishes of the Belgian people; that the republican form of government was neither suited to their habits nor adapted to their wishes; and that the existing constitution, having been approved by a constituent assembly, the organ of the public will, and nominated by an immense majority of electors, might be considered as a fair index to the wishes of the people. The result proved that their opinion was well founded the spirit of the nation was still, as in former days, religious and monarchical, not freethinking and revolutionary. The King retained the throne: the democratic societies in Brussels all met on the following evening, and attempted a revolutionary movement; but although at their bidding some crowds assembled in the streets, there was no general movement, and a few of the leaders were arrested without difficulty. On the day following, the Minister of the Interior announced an electoral law, in virtue of which the franchise was fixed at the lowest point allowed by the constitution—viz. twenty florins' worth of property (40s.), being nearly the same as the lowest point of the county qualification in England. By this change the number of electors was at once doubled; and the liberal intentions of Government were soon after still further evinced by another law, which reduced the qualification for municipal councils to forty-six francs (36s.) These timely and wise concessions gave general satisfaction, and so completely disarmed the extreme democratic party, that when March 28. the French revolutionists, who were by no means satisfied with these temperate reforms, endeavoured to penetrate 2 Ann. Hist. into the country, they were, as already mentioned, met 371; Ann. and with ease defeated by the loyal troops of Leopold.1 359; Moni- The existing government was soon after still further 2, 30, 1848. strengthened by a document from the pen of M. Potter, Feb. 28. 1 Ante, c. iv. § 37. 1848, 366 Reg. 1848, teur, March who had taken so active a part in the revolution of 1830,2 LIII. 1848. 18. and com crisis Belgium. in which he exhorted his countrymen to rest contented CHAP. with the real freedom which they enjoyed under their constitutional monarch, and not to endanger it by aspiring after a perilous and impracticable republican regime. But although Belgium thus avoided the great risk of a change of government on the occurrence of the French Monetary revolution, yet it could not escape the serious evils arising mercial from the shock given to commercial credit, and through it in to general industry. They fell with unmitigated severity in that great emporium of mercantile and manufacturing industry; England itself did not suffer more severely. The discounts at the bank, which in 1847 had been 160,200,000 francs, sank in 1848 to 87,900,000; and the current accounts fell from 183,000,000 to 96,000,000 francs. The general panic soon rendered the payment of notes in cash impossible. The Government acted with. equal energy and prudence on this trying occasion. By a law passed on 20th March 1848, cash payments were suspended, and the Bank was authorised to issue inconvertible notes to a limited extent. Under protection of this law, the notes of the Bank in circulation, which during the panic had fallen to 3,000,000 francs, rose before the end of the year to 10,300,000 francs. The other great banking establishment, the "Société Générale de Bruxelles," was at the same time authorised to issue notes of 20 francs and 5 francs to support the circulation during the temporary absence of specie; and their circulation, also protected, rose from a million to thirty-two millions. The notes of neither establishment underwent any depreciation, notwithstanding the large increase in their paper circulation, a clear proof that it was issued in sufficient but not excessive quantities. The consequence was, that public credit was restored by this seasonable support to the banking establishments, and industry revived so quickly, that Government were enabled, before the end of the year, to surrender to the towns the tax on personal property and patents, in consideration of their VOL. VIII. 2 I LIII. 1 Ante, c. li. 88 7, 8. CHAP. giving up the octroi on articles of consumption imported into them, which had been loudly complained of. These 1848. changes, and the effects of the crisis, occasioned a deficit in the public accounts for the year of 9,000,000 francs, which in the next was much more than compensated by a great reduction in the army, the cost of which was lessened to the extent of nearly a half of what it had been ten years before. This mode of dealing with the monetary crisis of 1848, which was exactly the same as has been shown to have been adopted in France at the same period,1 is well worthy of observation, for both were diametrically the reverse of that followed in England during the corresponding time of suffering. France and Belgium sought to supply the want of a metallic currency, temporarily drawn away, and to support a credit for the time shaken, by a temporary issue of notes to supply the place of the former and uphold the latter; England was resolute to adhere to a system which forcibly contracted the notes when credit was all but ruined by the withdrawal of the gold. The former 2 Ann. Hist. said, "If the beef is taken away, give the soldiers more bread;" the latter, "If the beef is taken away, take away the bread also, and all will soon be right." 2 1848, 369 373. 19. the Consti Holland. HOLLAND also felt, though in a lesser degree, the Changes in shock of 1848, both in politics and commerce. Being the tution of advanced-post of the legitimate monarchies, it was sure to be exposed to the first blows of the revolutionary power, if hostilities broke out; and accordingly military preparations were made on a very extensive scale. The whole militia or landwehr, for 1845, 1846, and 1847, were called out, and a considerable addition was made to the regular army. But these defensive preparations were accompanied by wise and timely concessions to public opinion, violently agitated there as elsewhere by the events which had taken place in France. On the 26th February, immediately on receipt of the news from Paris, a project for certain fundamental changes in the constitution was sub Feb. 26. LIII. 1848. mitted to the King by the Council of State, and approved CHAP. by him, after which the Chambers were convoked to take them into consideration. The result of their deliberations was a new constitution, which was formally promulgated on the 14th October. By it Holland received the whole immunities of a free government, and her inhabitants came to enjoy nearly the same rights and liberties as those of Great Britain. All traces of the aristocratic privileges retained by the constitution of 1815 were swept away. All citizens were, without distinction of rank or creed, made eligible to all employments; the King's person was declared inviolable, but his ministers responsible. He commanded the forces by sea and land, declared war and made peace, and nominated to all public offices with the advice of his ministers. The States-General were to be still divided into two chambers, but their composition and mode of appointment were changed. The members of the Upper House, who by the constitution of 1815 were all named by the King, were to be no longer appointed by him, but by the provincial estates, and to be taken from a roll of the persons paying the highest amount of direct taxes within their respective limits. They were to be elected for nine years, and to receive an annual salary from Government of 3000 florins, or £300 a-year. The lower chamber was elected for four years, and to be elected by all persons paying above 20 florins (£2), and below 160 florins (£16) a-year. A deputy was to be chosen for every 45,000 inhabitants; and, to be eligible for the second chamber, the candidates required to be above 30 years of age. This chamber was exclusively invested with the right of voting taxes and supplies, which was to be done annually, and with that of proposing and moving amendments to laws. The debates in both chambers were to be open, and published 1See Conin the newspapers;' and the people enjoyed the right of 1848; Ann. petitioning either the local estates or the general legisla- 377-379. ture, as well as, under certain limitations, that of meeting stitution, Hist. 1848, |