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Drury-Lane, is perpetually annexed to the latter. So that the value of Drury-Lane at present, and in the former sales, is out of all comparison, - independently of the new building, superior size, raised prices, etc. etc. But the incumbrances on the theatre, whose annual charge must be paid before there can be any surplus profit, are much greater than in Mr. Garrick's time, or on the old theatre afterwards. Undoubtedly they are, and very considerably greater ; but what is the proportion in the receipts ? Mr Garrick realised and left a fortune of 140,000l. (having lived, certainly, at no mean expense), acquired in years, on an average annual receipt of 25,000l. (qu. this ?) Our receipts cannot be stated at less than 60,00ol. per ann.; and it is demonstrable that preventing the most palpable frauds and abuses, with even a tolerable system of exertion in the ma

management, must bring it, at the least, to 75,000l.; and this estimate does not include the advantages to be derived from the new tavern, passages, Chinese hall, etc., an aid to the receipt, respecting the amount of which I am very sanguine. What, then, is the probable profit, and what

a quarter of it worth ? No. 3 is the amount of three seasons' receipts, the only ones on which an attempt at an average could be justifiable. No. 4. is the future estimate, on a system of exertion and good management. No. 5. the actual annual incumbrances. No. 6. the nightly expenses. No. 7. the estimated profits. Calculating on which, I demand, for a quarter of the property

* reserving to myself the existing private boxes, but no more to be created, and the fruit-offices and houses not part of the theatre.

1 assume that Mr. Kemble and I agree as to the price, annexing the following conditions to our agreement :

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Mr. Kemble shall have his engagement as an actor for any rational time he pleases. Mr. Kemble shall be manager, with a clear salary of 500 guineas per annum, and

per cent. on the clear profits. Mr. Sheridan engages to procure from Messrs. Hammersleys a loan to Mr. Kemble of ten thousand pounds, part of the purchase-money, for four years, for which loan he is content to become collateral security, and also to leave his other securities, now in their hands, in mortgage for the same.

And for the payment of the rest of the mouey, Mr. Sheridan is ready to give Mr. Kemble

every

facility his circumstances will admit of. It is not to be overlooked, that if a private box is also made over to Mr. Kemble, for the whole term of the theatre lease, its value cannot be stated at less than 3500l. Indeed, it might at any time produce to Mr. Kemble, or his assigns, 3ool. per annum. Vide No. 8. This is a material deduction from the purchase-money to be paid.

Supposing all this arrangement made, I conceive Mr. Kemble's income would stand thus :-

L.

d. Salary as an actor,

1050 In lieu of benefit,

315 As manager,

525 Per centage on clear profit, 300 Dividend on quarter-share,

L. 4690 0

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“I need not say how soon this would clear the whole of the purchase. With regard to the title, etc., Mr. Crews and Mr. Pigott are to decide. As to debts, the

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* I put this on the very lowest speculation.”

29

VOL. II.

share must be made over to Jr. Kemble free from a claim even; and for this purpose all demands shall be called in, by public advertisement, to be sent to Mr. Kemble's own solicitor. In short, Mr. Crews shall be atisfied that there does not exist an unsatisfied demands ou the theatre, or a possibility of Mr. Kemble being involved in the risk of a shilling. Mr. Hammersley, or such person as Mr. Kemble and Mr. Sheridan shall agree on, to be Treasurer, and receive and account for the whole receipts, pay

the charges, trusts, elc.; and at the close of the season, the surplus profits to the proprietors. A clause in case of death, or sale, lo give the refusal to each other."

The following letter from Sheridan to Kemble, in answer, as it appears, to some complaint or remonstrance from the latter, in his capacity of Manager, is too curiously characteristic of the writer to be omitted :

" Dear KEMBLE, "If I had not a real good opinion of your principles and intentions upon all subjects, and a very bad opinion of your nerves and philosophy upon some, I should take very ill indeed, the letter I received from

you ing.

" That the management of the theatre is a situation capable of becoming troublesome is information which I do not want, and a discovery which I thought you had mnade long since.

" I should be sorry to write lo you gravely on your offer, because I inust consider it as a nervous flight, which it would be as unfriendly in me to notice seriously, it would be in you seriously to have made it.

this even

as

" What I am most serious in is a determination that, while the theatre is indebted, and others, for it and for me, are so involved and pressed as they are, I will exert myself, and give every attention and judgment in my power to the establishment of its interests. In you I hoped, and do hope, to find an assistant, on principles of liberal and friendly confidence, “I mean confidence that should be above touchiness and reserve, and that should trust to me to estimate the value of that assistance.

“ If there is any thing amiss in your mind, not arising from the troublesomeness of your situation, it is childish and unmanly not to disclose it to me. The frankness with which I have always dealt towards you

entitles me to expect that

you

should have done so. " But I have no reason to believe this to be the case ; and, attributing your letter to a disorder which I know ought not to be indulged, I prescribe that you shall keep your appointment at the Piazza Coffee-house, tomorrow at five, and, taking four bottles of claret instead of three, to which in sound health

you might stint yourself, forget that you ever wrote the letter, as I shall that I ever received it.

“R. B. SHERIDAN."

CHAPTER XIX.

STATE OF PARTIES.-OFFER OF A PLACE TO MR. T.

SHERIDAN.

KECEIVERSHIP OF THE DUCHY OF

CORNWALL BESTOWED UPON MR. SHERIDAN.

RETURN OF MR. PITT TO POWER -CATHOLIC QUESTION. ADMINISTRATION OF LORD GREN

VILLE AND MR. FOX.-DEATH OF MR. FOX.

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DURING the short interval of peace into which the country was how lulled,- like a ship becalmed for a moment in the valley between two vast waves, -such a change took place in the relative positions and bearings of the parties that had been so long arrayed against each other, and such new boundaries and divisions of opinion were formed, as considerably altered the map of the political world. While Mr. Pitt lent his sanction to the new Administration, they, who had made common cause with him in resigning, violently opposed it; and, while the Ministers were thus thwarted by those who had hitherto always agreed with

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