On the twentieth of October the Houses met. William addressed to them
a speech remarkable even among all the remarkable speeches in which
his own high thoughts and purposes were expressed in the dignified and
judicious language of Somers. There was, the King said, great reason
for congratulation. It was true that the funds voted in the preceding
session for the support of the war had failed, and that the recoinage
had produced great distress. Yet the enemy had obtained no advantage
abroad; the State had been torn by no convulsion at home; the loyalty
shown by the army and by the nation under severe trials had disappointed
all the hopes of those who wished evil to England. Overtures tending to
peace had been made. What might be the result of those overtures,
was uncertain; but this was certain, that there could be no safe or
honourable peace for a nation which was not prepared to wage vigorous
war. "I am sure we shall all agree in opinion that the only way of
treating with France is with our swords in our hands."

The Commons returned to their chamber; and Foley read the speech from
the chair. A debate followed which resounded through all Christendom.
That was the proudest day of Montague's life, and one of the proudest
days in the history of the English Parliament. In 1798, Burke held up
the proceedings of that day as an example to the statesmen whose hearts
had failed them in the conflict with the gigantic power of the French
republic. In 1822, Huskisson held up the proceedings of that day as an
example to a legislature which, under the pressure of severe distress,
was tempted to alter the standard of value and to break faith with
the public creditor. Before the House rose the young Chancellor of the
Exchequer, whose ascendency, since the ludicrous failure of the Tory
scheme of finance, was undisputed, proposed and carried three memorable
resolutions. The first, which passed with only one muttered No, declared
that the Commons would support the King against all foreign and domestic
enemies, and would enable him to prosecute the war with vigour. The
second, which passed, not without opposition, but without a division,
declared that the standard of money should not be altered in fineness,
weight or denomination. The third, against which not a single opponent
of the government dared to raise his voice, pledged the House to make
good all the deficiencies of all parliamentary fund's established since
the King's accession. Th