Londonderry is one of the most thrilling episodes in the history of Ireland.  The siege was turned into a blockade by the construction of a boom across the harbour by the besiegers.  The citizens endured frightful hunger, for famine was extreme within the walls, but they never quailed.  The garrison was reduced from 7,000 to 3,000.  The siege, which lasted 105 days, and was the most memorable in the annals of the British Isles, was ended by the breaking of the boom by a squadron of three ships from England which brought reinforcements and provisions.

The Irish army retreated and the next event, a very decisive one, was the defeat at the Battle of the Boyne, where William and James commanded their respective forces.  The war ended with the capitulation of Limerick, and the French soldiers, who had formed a great part of James’s army, left for France.

The Battle of La Hogue

The year 1692 was marked by momentous events issuing from a scheme, in some respects well concerted, for the invasion of England by a French force, with the object of the restoration of James.  A noble fleet of about 80 ships of the line was to convey this force to the shores of England, and in the French dockyards immense preparations were made.  James had persuaded himself that, even if the English fleet should fall in with him, it would not oppose him.  Indeed, he was too ready to believe anything written to him by his English correspondents.

No mightier armament had ever appeared in the English Channel than the fleet of allied British and Dutch ships, under the command of Admiral Russell.  On May 19 it encountered the French fleet under the Count of Tourville, and a running fight took place which lasted during five fearful days, ending in the complete destruction of the French force off La Hogue.  The news of this great victory was received in England with boundless joy.  One of its happiest effects was the effectual calming of the public mind.

Creation of the Bank of England

In this reign, in 1694, was established the Bank of England.  It was the result of a great change that had developed in a few years, for old men in William’s reign could remember the days when there was not a single banking house in London.  Goldsmiths had strong vaults in which masses of bullion could lie secure from fire and robbers, and at their shops in Lombard Street all payments in coin were made.  William Paterson, an ingenious speculator, submitted to the government a plan for a national bank, which after long debate passed both Houses of Parliament.

In 1694 the king and the nation mourned the death from small-pox, a disease always working havoc, of Queen Mary.  During her illness William remained day and night at her bedside.  The Dutch Envoy wrote that the sight of his misery was enough to melt the hardest heart.  When all hope was over, he said to Bishop Burnet, “There is no hope.  I was the happiest man on earth; and I am the most