Thiswasthealmostunanimousfeelingofthecountry。ThetwoHousesofParliamentwerenotmorereasonable。BeforetheguiltoftheSouthSeadirectorswasknown，punishmentwastheonlycry。TheKing，inhisspeechfromthethrone，expressedhishopethattheywouldrememberthatalltheirprudence，temper，andresolutionwerenecessarytofindoutandapplytheproperremedyfortheirmisfortunes。Inthedebateontheanswertotheaddress，severalspeakersindulgedinthemostviolentinvectivesagainstthedirectorsoftheSouthSeaproject。TheLordMolesworthwasparticularlyvehement。“Ithadbeensaidbysome，thattherewasnolawtopunishthedirectorsoftheSouthSeaCompany，whowerejustlylookeduponastheauthorsofthepresentmisfortunesofthestate。Inhisopiniontheyought，uponthisoccasion，tofollowtheexampleoftheancientRomans，who，havingnolawagainstparricide，becausetheirlegislatorssupposednosoncouldbesounnaturallywickedastoembruehishandsinhisfather’sblood，madealawtopunishthisheinouscrimeassoonasitwascommitted。Theyadjudgedtheguiltywretchtobesowninasack，andthrownaliveintotheTyber。HelookeduponthecontriversandexecutorsofthevillanousSouthSeaschemeastheparricidesoftheircountry，andshouldbesatisfiedtoseethemtiedinlikemannerinsacks，andthrownintotheThames。“
　　Othermembersspokewithasmuchwantoftemperanddiscretion。Mr。
　　Walpolewasmoremoderate。Herecommendedthattheirfirstcareshouldbetorestorepubliccredit。“IfthecityofLondonwereonfire，allwisemenwouldaidinextinguishingtheflames，andpreventingthespreadoftheconflagrationbeforetheyinquiredaftertheincendiaries。Publiccredithadreceivedadangerouswound，andlaybleeding，andtheyoughttoapplyaspeedyremedytoit。Itwastimeenoughtopunishtheassassinafterwards。“Onthe9thofDecemberanaddress，inanswertohisMajesty’sspeech，wasagreedupon，afteranamendment，whichwascarriedwithoutadivision，thatwordsshouldbeaddedexpressiveofthedeterminationoftheHousenotonlytoseekaremedyforthenationaldistresses，buttopunishtheauthorsofthem。
　　Theinquiryproceededrapidly。ThedirectorswereorderedtolaybeforetheHouseafullaccountofalltheirproceedings。Resolutionswerepassedtotheeffectthatthecalamitywasmainlyowingtothevileartsofstockjobbers，andthatnothingcouldtendmoretothere-establishmentofpubliccreditthanalawtopreventthisinfamouspractice。Mr。Walpolethenrose，andsaid，that“ashehadpreviouslyhinted，hehadspentsometimeuponaschemeforrestoringpubliccredit，butthat，theexecutionofitdependinguponapositionwhichhadbeenlaiddownasfundamental，hethoughtitproper，beforeheopenedouthisscheme，tobeinformedwhetherhemightrelyuponthatfoundation。Itwas，whetherthesubscriptionofpublicdebtsandencumbrances，moneysubscriptions，andothercontracts，madewiththeSouthSeaCompanyshouldremaininthepresentstate？“Thisquestionoccasionedananimateddebate。Itwasfinallyagreed，byamajorityof259against117，thatallthesecontractsshouldremainintheirpresentstate，unlessalteredforthereliefoftheproprietorsbyageneralcourtoftheSouthSeaCompany，orsetasidebyduecourseoflaw。OnthefollowingdayMr。WalpolelaidbeforeacommitteeofthewholeHousehisschemefortherestorationofpubliccredit，whichwas，insubstance，toingraftninemillionsofSouthSeastockintotheBankofEngland，andthesamesumintotheEastIndiaCompany，uponcertainconditions。TheplanwasfavourablyreceivedbytheHouse。Aftersomefewobjections，itwasorderedthatproposalsshouldbereceivedfromthetwogreatcorporations。Theywerebothunwillingtolendtheiraid，andtheplanmetwithawarmbutfruitlessoppositionatthegeneralcourtssummonedforthepurposeofdeliberatinguponit。They，however，ultimatelyagreeduponthetermsonwhichtheywouldconsenttocirculatetheSouthSeabonds，andtheirreport，beingpresentedtothecommittee，abillwasbroughtin，underthesuperintendenceofMr。Walpole，andsafelycarriedthroughbothHousesofParliament。
　　Abillwasatthesametimebroughtin，forrestrainingtheSouthSeadirectors，governor，sub-governor，treasurer，cashier，andclerksfromleavingthekingdomforatwelvemonth，andfordiscoveringtheirestatesandeffects，andpreventingthemfromtransportingoralienatingthesame。AllthemostinfluentialmembersoftheHousesupportedthebill。Mr。Shippen，seeingMr。SecretaryCraggsinhisplace，andbelievingtheinjuriousrumoursthatwereafloatofthatminister’sconductintheSouthSeabusiness，determinedtotouchhimtothequick。Hesaid，hewasgladtoseeaBritishHouseofCommonsresumingitspristinevigourandspirit，andactingwithsomuchunanimityforthepublicgood。ItwasnecessarytosecurethepersonsandestatesoftheSouthSeadirectorsandtheirofficers；“but，“headded，lookingfixedlyatMr。Craggsashespoke，“therewereothermeninhighstation，whom，intime，hewouldnotbeafraidtoname，whowerenolessguiltythanthedirectors。“Mr。Craggsaroseingreatwrath，andsaid，thatiftheinnuendoweredirectedagainsthim，hewasreadytogivesatisfactiontoanymanwhoquestionedhim，eitherintheHouseoroutofit。Loudcriesoforderimmediatelyaroseoneveryside。InthemidstoftheuproarLordMolesworthgotup，andexpressedhiswonderattheboldnessofMr。CraggsinchallengingthewholeHouseofCommons。He，LordMolesworth，thoughsomewhatold，pastsixty，wouldanswerMr。CraggswhateverhehadtosayintheHouse，andhetrustedtherewereplentyofyoungmenbesidehim，whowouldnotbeafraidtolookMr。Craggsintheface，outoftheHouse。Thecriesoforderagainresoundedfromeveryside；themembersarosesimultaneously；everybodyseemedtobevociferatingatonce。TheSpeakerinvaincalledorder。Theconfusionlastedseveralminutes，duringwhichLordMolesworthandMr。Craggswerealmosttheonlymemberswhokepttheirseats。AtlastthecallforMr。CraggsbecamesoviolentthathethoughtpropertosubmittotheuniversalfeelingoftheHouse，andexplainhisunparliamentaryexpression。Hesaid，thatbygivingsatisfactiontotheimpugnersofhisconductinthatHouse，hedidnotmeanthathewouldfight，butthathewouldexplainhisconduct。Herethematterended，andtheHouseproceededtodebateinwhatmannertheyshouldconducttheirinquiryintotheaffairsoftheSouthSeaCompany，whetherinagrandoraselectcommittee。
　　Ultimately，aSecretCommitteeofthirteenwasappointed，withpowertosendforpersons，papers，andrecords。
　　TheLordswereaszealousandashastyastheCommons。TheBishopofRochestersaidtheschemehadbeenlikeapestilence。TheDukeofWhartonsaidtheHouseoughttoshownorespectofpersons；that，forhispart，hewouldgiveupthedearestfriendhehad，ifhehadbeenengagedintheproject。Thenationhadbeenplunderedinamostshamefulandflagrantmanner，andhewouldgoasfarasanybodyinthepunishmentoftheoffenders。LordStanhopesaid，thateveryfarthingpossessedbythecriminals，whetherdirectorsornotdirectors，oughttobeconfiscated，tomakegoodthepubliclosses。
　　Duringallthistimethepublicexcitementwasextreme。Welearn，frontCoxe’sWalpole，thattheverynameofaSouthSeadirectorwasthoughttobesynonymous。witheveryspeciesoffraudandvillany。
　　Petitionsfromcounties，cities，andboroughs，inallpartsofthekingdom，werepresented，cryingforthejusticeduetoaninjurednationandthepunishmentofthevillanouspeculators。Thosemoderatemen，whowouldnotgotoextremelengths，eveninthepunishmentoftheguilty，wereaccusedofbeingaccomplices，wereexposedtorepeatedinsultsandvirulentinvectives，anddevoted，bothinanonymouslettersandpublicwritings，tothespeedyvengeanceofaninjuredpeople。TheaccusationsagainstMr。Aislabie，ChancelloroftheExchequer，andMr。Craggs，anothermemberoftheministry，weresoloud，thattheHouseofLordsresolvedtoproceedatonceintotheinvestigationconcerningthem。Itwasordered，onthe21stofJanuary，thatallbrokersconcernedintheSouthSeaschemeshouldlaybeforetheHouseanaccountofthestockorsubscriptionsboughtorsoldbythemforanyoftheofficersoftheTreasuryorExchequer，orintrustforanyofthem，sinceMichaelmas1719。Whenthisaccountwasdelivered，itappearedthatlargequantitiesofstockhadbeentransferredtotheuseofMr。Aislabie。FiveoftheSouthSeadirectors，ineludingMr。EdwardGibbon，thegrandfatherofthecelebratedhistorian，wereorderedintothecustodyoftheblackrod。
　　UponamotionmadebyEarlStanhope，itwasunanimouslyresolved，thatthetakinginorgivingcreditforstockwithoutavaluableconsiderationactuallypaidorsufficientlysecured；orthepurchasingstockbyanydirectororagentoftheSouthSeaCompany，fortheuseorbenefitofanymemberoftheadministration，oranymemberofeitherHouseofParliament，duringsuchtimeastheSouthSeaBillwasyetpendinginParliament，wasanotoriousanddangerouscorruption。
　　Anotherresolutionwaspassedafewdaysafterwards，totheeffectthatseveralofthedirectorsandofficersoftheCompanyhaving，inaclandestinemanner，soldtheirownstocktotheCompany，hadbeenguiltyofanotoriousfraudandbreachoftrust，andhadtherebymainlycausedtheunhappyturnofaffairsthathadsomuchaffectedpubliccredit。Mr。AislabieresignedhisofficeasChancelloroftheExchequer，andabsentedhimselffromParliamentuntiltheformalinquiryintohisindividualguiltwasbroughtundertheconsiderationoftheLegislature。
　　Inthemeantime，Knight，thetreasureroftheCompany，andwhowasintrustedwithallthedangeroussecretsofthedishonestdirectors，packeduphisbooksanddocuments，andmadehisescapefromthecountry。Heembarkedindisguise，inasmallboatontheriver，andproceedingtoavesselhiredforthepurpose，wassafelyconveyedtoCalais。TheCommitteeofSecrecyinformedtheHouseofthecircumstance，whenitwasresolvedunanimouslythattwoaddressesshouldbepresentedtotheKing；thefirstprayingthathewouldissueaproclamation，offeringarewardfortheapprehensionofKnight；andthesecond，thathewouldgiveimmediateorderstostoptheports，andtotakeeffectualcareofthecoasts，topreventthesaidKnight，oranyotherofficersoftheSouthSeaCompany，fromescapingoutofthekingdom。TheinkwashardlydryupontheseaddressesbeforetheywerecarriedtotheKingbyMr。Methuen，deputedbytheHouseforthatpurpose。Thesameeveningaroyalproclamationwasissued，offeringarewardoftwothousandpoundsfortheapprehensionofKnight。TheCommonsorderedthedoorsoftheHousetobelocked，andthekeystobeplaceduponthetable。GeneralRoss，oneofthemembersoftheCommitteeofSecrecy，acquaintedthemthattheyhadalreadydiscoveredatrainofthedeepestvillanyandfraudthatHellhadevercontrivedtoruinanation，whichinduetimetheywouldlaybeforetheHouse。
　　Inthemeantime，inordertoafurtherdiscovery，theCommitteethoughtithighlynecessarytosecurethepersonsofsomeofthedirectorsandprincipalSouthSeaofficers，andtoseizetheirpapers。
　　Amotiontothiseffecthavingbeenmade，wascarriedunanimously。SirRobertChaplin，SirTheodoreJanssen，Mr。Sawbridge，andMr。F。Eyles，membersoftheHouse，anddirectorsoftheSouthSeaCompany，weresummonedtoappearintheirplaces，andanswerfortheircorruptpractices。SirTheodoreJanssenandMr。Sawbridgeansweredtotheirnames，andendeavouredtoexculpatethemselves。TheHouseheardthempatiently，andthenorderedthemtowithdraw。Amotionwasthenmade，andcarriedneminecontradicente，thattheyhadbeenguiltyofanotoriousbreachoftrust——hadoccasionedmuchlosstogreatnumbersofhisMajesty’ssubjects，andhadhighlyprejudicedthepubliccredit。Itwasthenorderedthat，fortheiroffence，theyshouldbeexpelledtheHouse，andtakenintothecustodyofthesergeant-at-arms。SirRobertChaplinandMr。Eyles，attendingintheirplacesfourdaysafterwards，werealsoexpelledtheHouse。ItwasresolvedatthesametimetoaddresstheKing，togivedirectionstohisministersatforeigncourtstomakeapplicationforKnight，thathemightbedelivereduptotheEnglishauthorities，ineasehetookrefugeinanyoftheirdominions。TheKingatonceagreed，andmessengersweredespatchedtoallpartsoftheContinentthesamenight。
　　Amongthedirectorstakenintocustody，wasSirJohnBlunt，themanwhompopularopinionhasgenerallyaccusedofhavingbeentheoriginalauthorandfatherofthescheme。Thisman，weareinformedbyPope，inhisepistletoAllen，LordBathurst，wasadissenter，ofamostreligiousdeportment，andprofessedtobeagreatbeliever。Heconstantlydeclaimedagainsttheluxuryandcorruptionoftheage，thepartialityofparliaments，andthemiseryofpartyspirit。Hewasparticularlyeloquentagainstavariceingreatandnoblepersons。Hewasoriginallyascrivener，andafterwardsbecame，notonlyadirector，butthemostactivemanageroftheSouthSeaCompany。