a private capacity, and with few dependers. Yet some allowance may perhaps be given to this failing, which is one of the greatest he has; since he cannot be more careless of other men's fortunes, than he is of his own. He is master of a very great and faithful memory; which is of mighty use in the management of publick affairs: and I believe there are few examples to be produced, in any age, of a person who has passed through so many employments in the state, endowed with a greater share both of divine and human learning.
I am persuaded that foreigners, as well as those at home who live too remote from the scene of business to be rightly informed, will not be displeased with this account of a person, who, in the space of two years, has been so highly instrumental in changing the face of affairs in Europe, and has deserved so well of his own prince and country.
In that perplexed condition of the publick debts which I have already described, this minister was brought into the treasury and exchequer, and had the chief direction of affairs. His first regulation was that of exchequer bills, which, to the great discouragement of publick credit, and scandal to the crown, were three per cent less in value than the sums specified in them. The present treasurer, being then chancellor of the exchequer, procured an act of parliament, by which the bank of England should be obliged, in consideration of forty-five thousand pounds, to accept and circulate those bills without any discount. He then proceeded to stop the depredations of those who dealt in remittances of money to the army; who, by unheard of exactions in that kind of traffick, had amassed prodi-
