Remond held some South Sea stock, and, acting on Lady Mary’s advice, sold out at a considerable profit.  Not content with his gains, however, he insisted, just before his departure for France, on leaving in Lady Mary’s hands L900 for investment as opportunity should arise.  Reluctantly Lady Mary consented—­she would probably have agreed almost to anything, so anxious was she that Remond should leave the country.

On August 22, 1720, Pope, with the best intentions in the world, wrote to Lady Mary:  “I was made acquainted last night that I might depend upon it as a certain gain to buy the South Sea stock at the present price, which will assuredly rise in some weeks or less.  I can be as sure of this as the nature of any such thing will allow, from the first and best hands, and therefore have despatched the bearer with all speed to you.”  No doubt the phrase “the first and best hands,” was intended to convey the fact that his informant was his friend and neighbour, James Craggs the younger, the Secretary of State who was so deeply involved in the affairs of the South Sea Company that when the “bubble” burst he only escaped prosecution by conveniently dying of small-pox.  Acting on the hint given by Pope, Lady Mary purchased stock for herself and Remond.  The stock fell rapidly—­in August it stood at 750 and in December at 130.  What she lost is not known, but she had been sufficiently involved to make her desire to sell her diamonds, and more than once she asked Lady Mar if there was a market for the jewels in Paris.  Remond’s L900 had dwindled to L400.  On receiving these distressful tidings, the Frenchman believed, or affected to believe, that he had been swindled, and he threatened, unless he were repaid in full, he would publish Lady Mary’s letters to him.  Lady Mary’s fear was lest the matter should come to the cognisance of her husband:  it would certainly be unfair to Montagu to suggest that he might not have forgiven his wife for a love-affair; but he would certainly never have pardoned her any transaction that cost him money.

Many malicious things were said about this business.  Walpole gave a version utterly discreditable to Lady Mary, and Pope, after the quarrel, referred to the matter in the second book of the Dunciad: 

  “Whence hapless Monsieur much complains at Paris
   Of wrongs from Duchesses and Lady Maries.”

The case was put by Lady Mary in a series of letters to her sister, Lady Mar, to whom she could unburden herself freely, and who might be able to influence Remond, who was then at Paris.

[1721.]