ABSTRACT
The frightful conditions of misery under the rule of Castlereagh, the savage suppression, the largely unsuccessful attempts to stir the poor into revolt by the use of agents provocateurs—all these are generally known and generally condemned. One can read the story of them in such books as those of the Hammonds. Their story is the most disgraceful story in the whole of English history. After Castlereagh’s death things took a turn for the better. In 1822 to relieve the distress, the Government with realistic statesmanship deliberately unbalanced the budget, borrowing the money required for the pensions fund scheme. They also passed an Act permitting bank-notes for sums under £5 to continue in circulation until 5th January, 1833, instead of being withdrawn, as had previously been ordered, by 1st May, 1823. They gave to some 530 country banks the right to issue unlimited £1 notes, convertible on demand into Bank of England notes or gold.
