no landowner, there were a number of parties with interests in it, including Earl Grosvenor, who owned a house on an adjacent site and objected to the idea of a prison overlooking it. Again, therefore, the scheme ground to a halt. At this point, however, it became clear that a nearby site at Millbank, adjoining the Thames, was available for sale, and this time things ran more smoothly. Using government money, Bentham bought the land on behalf of the Crown for £12,000 in November 1799. From his point of view, the site was far from ideal, being marshy, unhealthy, and too small. When he asked the government for more land and more money, however, the response was that he should build only a small-scale experimental prison—which he interpreted as meaning that there was little real commitment to the concept of the panopticon as a cornerstone of penal reform. Negotiations continued, but in 1801 Pitt resigned from office, and in 1803 the new Addington administration decided not to proceed with the project. Bentham was devastated: "They have murdered my best days." Nevertheless, a few years later the government revived the idea of a National Penitentiary, and in 1811 and 1812 returned specifically to the idea of a panopticon. Bentham, now aged 63, was still willing to be governor. However, as it became clear that there was still no real commitment to the proposal, he abandoned hope, and instead turned his attentions to extracting financial compensation for his years of fruitless effort. His initial claim was for the enormous sum of nearly £700,000, but he eventually settled for the more modest (but still considerable) sum of £23,000. An Act of Parliament in 1812 transferred his title in the site to the Crown. More successful was his cooperation with Patrick Colquhoun in tackling the corruption in the Pool of London. This resulted in the Thames Police Bill of 1798, which was passed in 1800. The bill created the Thames River Police, which was the first preventive police force in the country and was a precedent for Robert Peel's reforms 30 years later. Correspondence and contemporary influences Bentham was in correspondence with many influential people. In the 1780s, for example, Bentham maintained a correspondence with the aging Adam Smith, in an unsuccessful attempt to convince Smith that interest rates should be allowed to freely float. As a result of his correspondence with Mirabeau and