Note 265:1 — Chapter XIV

MS. R.S.E. In answer, Millar tells him that the prejudice is not against the Scots, but against Lord Bute; that matters have now, however, been all put right, for "it is generally believed that Mr. Greenville is a good manager of the finances, and in general means well: as a proof of it, our stocks have been creeping up daily, and it is now generally believed that 3 per cent will soon come to par if affairs continue peaceable!" One possessed of better opportunities of judging, and more capable of using them, joins in these anticipations of success with which Grenville's disastrous career as a financier opened. Elliot says, on 25th March, 1765: "To-morrow Mr. Grenville opens the budget, as it is usually called, and I believe our revenue will appear to be on a better footing than is usually believed. I hope we shall have discharged as much debt without breach of faith as you have done in a politer way. Not that I pretend to censure your method. You borrow at a high interest during time of war, and it is understood you are to take your own method in peace. Our mode of proceeding is the very reverse of this. . . . Your negotiation with regard to the French prisoners you must have heard, met with all the approbation it so well deserved." (MS. R.S.E.)