HisTORY OF EVR OPE. 
would not date to say one word as 
to its prudence ; he only would ad- 
monish their ordships, that, upon 
the conduct of the legislature, in 
this momentous crisis, depended 
the fate of England. ‘hey were 
brought to a tremendous brink, 
where one single error, one single 
slip of the foot, would precipitate 
themtoruin. He had the utmost 
and most sacred confidence in the 
bank of England; their probity and 
their ability were undoubted ; it 
was totally indifferent to him whe- 
ther there was a secret committee 
or not; he was confident that they 
would ‘safely come to the bar of 
‘that house, and prove, in the face 
of the world, that they were equal 
to all their own engagements ; 
that they dreaded nothing but the 
interference of the state; and this 
fnterference it would be well for 
their lordships to guard against, 
This was the rock upon which 
alone we could split. To the re- 
port of a committee of nine toble 
lords, wlio should: confine them- 
selves to the single object of exa- 
mining the ability of this company, 
he had no objéction: in his mind, 
foo, it ought to be a secret com- 
mittee, not because there ought not 
to be the utmost publicity in every 
thing that regarded the pecuniary 
state and circumstances of the na- 
tion, but because the bank of Eng- 
Jand was’ a private company, and 
parliament had no right to inquire 
and pry into their affairs. Taxing 
it for granted, however, that it was 
at their own invitation and express 
desire, he had no objection to the 
appointment of acommittee of nine 
lords, of high and known honour, 
who should “strictly confine them- 
selves to the examination of their 
fonds and their engagements : no 
[183 
farther. He would fot venture 
one step beyond this examination, 
and, therefore, all the latter part 
of the motion, and every thing 
which looked like, or bore the 
least affinity to, force, he must ob- 
ject to. The only way in which 
the measure could be countenanced 
was, as a measure of persuasion : 
he was sorry to have seen, in the 
order of council, so itmproper a 
term as the word ‘ require ;”’ it 
was a word unknown to the law, 
and which ought not to have been 
used ; it was an importation from 
France. Requisition, carried with 
it the idea of terror, which could 
only be carried on by force. He 
deprecated this dreadful feeling ; 
it ought to have been a recommen- 
dation, not a requisition, to the 
bank, and they must never lose 
sight of the necessary caution to 
be observed in this respect. The 
first error must be repaired ; if an 
a(ténpt shall be made to usé force, 
we até gone as apeople. ‘* Mark 
my prophecy, my lords,” exclaimed 
the noble marquis, ‘ahd donot dis- 
dain the counse}, while vet in time. 
If you attenipt to make ‘bank-notes 
a legal tender, their credit will pe+ 
rsh. ‘T hey may go on fora time, 
ta the consequence is certain. 
No art, fo skill, no power, can 
revent their falling to a discount. 
WV Ve do not speak upon conjecture ; 
the thing is inatter of experience. 
A fever is as mucha fever in Lon- 
don as in Pari s, or Amsterdam ; 
and the consequences of a stoppage 
‘of payment must be the samé jn 
whatever country it shall happen. 
The fall will be slow perhaps, and 
gradual for a time ; but it will be 
certain. A féw months may bring 
to the recollection of yout lordships, 
with contrition, the prophecy that 
have 
