EVOLUTION OF A LORD.

Auckland Star, Volume LI, Issue 104, 1 May 1920, Page 17

EVOLUTION OF A LORD.

m "■ LIFE OF HENRY FOX, FIRST LORD HOLLAND. E THE REIGNS OF THE GEORGES. i -- ~— > CORRUPTION IN PUBLIC LIFE. > , 1 The Earl of Ilchester, author of a life " of Henry Fox, First Lord Holland, ' recently published by Mr. Murray, » a ' descendant of Stephen Fox, elder brother of Henry Fox, who was raised to the peerage in the reign of George the „ Second, for political services. Use has foeen made of many documents hitherto unpublished, and the biography, wh'.-.h extends to two substantial volumes, describes not only the life of Henry Fox, but gives a historical review of English politics in the Eighteenth Century,.when the Walpoles, Hervey, Winnington, Cumberland, Waldegrave, the elder Pitt, Newcastle, and Bute, played leading __ parts. New episodes in the childhood of g Henry Fox's celebrated _on, Charles '•' James, are also related. J The founder of the fortunes of the Fox family was Stephen, son of William c Fox, an English yeoman. He was born in 1627, and at the age of thirteen ob--1 tamed employment about the Court, and c subsequently entered the service of various nobleman. When employed m look- ' __ ing after the Royal stables and hounds at Paris he-.attracted the attention of • f Prince Charles, then in exile. He adI vanced in the Prince's favour, became entrusted with Charles' usually embar- _! ra«sed money affairs, and managed to c scrape a substantial sum for himself out r of the allowances for household expenses, t After the Restoration, Stephen Fox obtained other lucrative offices, entered 7 parliament, and was knighted. He held ™ 'the position of Paymaster, and, accordII ing to Evelyn, acquired a fortttn_ of i c £200,000. When the downfall of the 7_ Stuarts came, Stephen Fox wisely trans--0 ferred his support to their successors, and he led the procession of the House of i Commons at Queen Anne's coronation. s WALPOLE'S CORRUPT PRACTICES, d This shrewd man was the father of s tovo sons who inherited all of his ca- ; pacity for looking after their own in- 1 3 j terest. The eldest, Sir Stephen, sup-1 s j plemented his large fortune by a r.cli' '• j marriage, and as a member of the House *j of Commons was complaisant to the I political methods of Sir Robert Walpole. a I "For twenty years," Lord Ilchester c states, "Sir Robert ruled the House of S Commons with a rod of iron. Systematic! n ! corruption was the primary weapon with i q whicli he effected his purpose, llcibi-ry t had become a Parliamentary institution, t Barefaced peculation had -enriven ever! c since the Restoration, and had become a h recognised factor in politics." Henry s Fox received his training in politics c under Walpole's tutelage, and his n brother Stephen, by services to the party, I intrigued for a peerage, upon which he >-! had set his heart. Writing with regard d i to his efforts to influence Pelham in I favour of Stephen Fox, Henry says: "11

wish it may have effect, and cannot but hope it will have some other time, if, *s I fear, too timid behaviour tshoui.l no? create openings enough for you to slip in now." By eueli persistent efforts whenever a favourable opportunity offered Stephen's desire for an earldom ■was ultimately gratified. BRIBING MEMBERS OF PARLIAMENT Regarding his own advancement, Henry Fox was not lees assiduous in .availing himself of every opportunity to push hjs fortunes. As a younger son lie inherited about £900 a year—not a bad start, but managed during hie lifetime to acquire a vast fortune, whicli his eons rapidly squandered. The chief source of this wealth was his office of Paymaster, in which capacity he not only helped himself, but alno. following the tactics of Robert Walpole, used the public money freely in purchasing votes. Horace Walpole, in his "Memoirs, -, says: "Fox directly attacked the separate members of the House of Commons, and with so little decorum on the part of either buyer or seller that a chop was publicly opened at the Pay Office, whither members flocked, and received the wages of their venality in bank 'bills, even so low a sum as two hundred pounds for their votes on the treaty: Twenty-five thousand pounds, as Martin, Secretary of the Treasury afterwards owned, were issued in one morning, and in a single fortnight a vast majority was purchased to approve of the peace." MANIPULATION OF PUBLIC FUNDS. The administration of the national finances at that time was conducted upon most extraordinary principles. "Up to 1759 it -was customary for the paymasters to apply to the Treasury every four months for a third part of the ordinary Supply for the whole year. Subsequent to that date the money was not requisitioned until the time for the payment of the service in question was J approaching. No notice, however, was

taken of paymasters' balances in hand, and the cash was paid to their own accounts as a matter of course, whether it_ was needed or not." These 'balances the paymaster retained even after he had retired from office, alid he invested them for his own advantage. Holland made some large financial coups in this way, which he very naively describes thus: "The sudden and great rise of stocks has made mc richer than ever I intended to be. Obloquy generally attends money so got, 'but with -how much reason in all cases let this simple account of my gains show. The Government borrows money at 20 per cent discount. I am not consulted or concerned in making the bargain. I have, as Paymaster, great sums in my hands, which, not applicable to any present use, must either lie dead in the bank or be employed by mc. I lend this to the Government in 1701. A peace is thought certain. I am not in tlie least consulted, but my very bad opinion of Pitt makes mc think it will not -be concluded. I sell out and gain greatly. In 1762 I lend again; a peace comes, in which again I am not consulted, and I again gain, greatly." In other words, Fox lends the Government their own money at 20 per cent, and uses these funds to gamble on the .Stock Exchange in Government bonds. The Paymaster, it should toe mentioned, submitted his own estimate of his requirements to the Treasury, and his figures were accepted ■without question. In Holland's case no less a sum than £45,900,000 was paid over to him or his executors between the years 1757 and 1780; and in December, 1765. £460,000 was the amount of his debt to the offi.e? No wonder that he accumulated a large fortune; yet, according to the ethics of the times, this form of peculation was considered quite legitimate. Pitt alone of the Paymasters of that day had refused to turn public money to their own advan- : tage.

The great fortune thus acquired, Henry Fox's eldest son and his more celebrated son, Charles James, who for so long a period ■was William Pitt's chief rival in rarliament, promptly wasted The eldest son, Stephen, began a careei of wild extravagance when pursuing his studies under a tutor. His father having paid heavy gambling debts, extracted a promise that the youth would give up gambling; nevertheless, in th* following eighteen months he incurrec debts amounting to £7,000. Within a short period after his marriage he hac borrowed to the amount of £49,000 and was concerned in a further liability ■with Charles to their father of ovei £78,000, largely the result of gambling Charles Fox led a life of riotous living •Several of his best speeches were mad< after many consecutive hours of drink ing and gambling. Fortune neyei favoured him. In thee successive night, in 1772, the brothers once lost £32,000 l-'inallv a climax came in the affairs o: Charles, and his father paid £100.000 tt cover debts of honour. The shock o< these disclosures severely taxed tht fathers failing strength, and no doubl hastened his death, which occurred ii July, 1774. I.ady Holland only survived him twenty-three day/.. The cost of Stephens' arm! Charles' escapades estimated at £200,000. had greatly de pleted his estate. The new Lord Hoi land also died a few months later, leav ing an infant son. Space docs not permit of an cxtc.ndet review of Henry Fox's political career His star rapidly waned before the sun oi the elder Pitt, afterwards Earl ol Chatham, just as the talents of Charles Fox. in the next generation, were out ranged by the genius and more loft, ideals of' William Pitt. The Karl o hchester, in this biography, has deal! with the historical materials at his dis posal with impartiality and judgment and the book makes a valuable contribu tion to the political history of the Eighteenth Century.