180}, ANN 
induced the farmers and. others, 
resident in the parts distant from 
the metropolis, to withdraw. their 
money from the hands of those 
bankers with whom it was deposit- 
ed. The run, therefore, commeneed 
upon the country banks, and the de- 
mand for specie soon reached the 
‘metropolis. In this alarming state, 
thé ministry thought themselves 
compelled to interfere, and an order 
of the privy council was issued on 
the 26th of February, prohibiting 
the directors of the bank from ‘ is- 
suing any cash in payment till the’ 
sense of parliament could be taken 
on thatsubject, and the proper mea- 
sures adopted thereupon for main- 
taining the means of circulation, 
and supporting the public and com- 
mercial credit of the kingdom at this 
important conjuncture.” 
On the following day, therefore, 
27th of February, z message was he 
livered from his maje sty to both 
houses of parliament, stating, “ that 
an unusual demand of specie having 
been made, from diflerent parts of 
the country, on the metropolis, it 
had ben fouud necessary to make 
an otderof council, to the directors 
of the bank, prohibiting the issuing 
of any cash in payment, til] the sense 
of partiament could be taken on the 
subject.”’ 
read, along with his majesty’s mes- 
sage; andlord Grenville, inthe house 
oflords, rose tomove,‘*‘ thatthe com- 
munication from his majesty should 
be taken into consideration the fol- 
lowing day.” 
The ‘duke of 
opinion that the desperate exigency, 
to which ministers bad driven the 
country, was owing to the ex, orts- 
tion of specie to the emperor of 
Gerraany and our other all es on the 
continent. He therefore moved, 
NUAL REGISTER, 
‘The order of couneil was | 
Norfolk was of 
1707. 
that a humble address be presented 
to his majesty, to prevent the farther 
exportation of specie, until the sense 
of parliament should be taken on that 
subject. ‘ 
Lord Grenville said, as their 
lordships had determined not to take 
the subject into consideration till 
next day, he did not wish to discuss 
it, as neither he nor the house were 
prepared for it. The necessity of 
acceding to the motion was urged 
by the earl of Guildford, and the 
earl of Moira, on the ground that to 
decline this would have an ill effect 
on the public mind. 
The duke of Norfolk put the 
question directly to lord Grenville 
whether it was intended to send 
money to the emperor? The secre- 
tary persevered in his determina- 
tion, not to discuss, that day, a sub- 
ject that was to be taken into con- 
sideration the next. ‘The question 
being put, the duke of Norfolk's 
motion was rejected by 34 against 5. 
His majesty’s message being again 
read, next day, lord Grenville, after 
much prefatory matter, which it is 
not necessary to our purpose to re- 
late, informed the house, that he 
had two motions for their conside- 
ration; and first, ** that a humble 
address be presented to his majesty * 
to return thanks for his gracious com- 
munication, and toassure his majesty 
that he might rely with the utmost. 
contidence on the wisdom.of parlia- 
ment, 
cessity, the extensive resources of the 
kingdom :” this address was wnani- 
mously azreed to. Lord Grenville’s 
other motion was for the appoint- 
ment of a select and secret com- 
mittee of nine lords, to examine 
aud resort, on the outstanding debts 
ag ainst-the bank, tbe state of the 
funds for discharging the same; the: 
cause 
to call. forth, in vase.of ne-. 
q 
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