BAST OuDyY “Ply EURO} k. 
subject of discussion in the house 
of commons. The chancellor of 
the exchequer moved an address to 
his majesty, returning him thanks 
for his most gracjous communica- 
tion, and assuring him, that the 
house would immediately proceed 
to take into consideration the ob- 
ject recommended in the message 
to their serious attention. This 
address, in the usual form of exact 
correspondence to the message, was 
carried, nem. com» Mr. Pitt then 
proceeded to introduce anothes mo- 
tion, of which he had, as usual, 
given previous notice, with some 
observations relative to the state 
of the bank, and certain ‘measures 
that it seemed to require. Tt had 
already been ascertained, he said, 
even in the short space that had 
elapsed since the minute of council 
had been issued, that the public 
confidence in the bank was un- 
shaken : that no doubt was enter- 
tained, with respect to the solidity 
of the bank, or its ability to answer 
all the demands of its creditors. 
Yet it was undoubtedly incumbent 
upon the house, he said, at so im- 
portant a period, to take the proper 
means to satisfy themselves, that 
the measures that had been taken, 
_ in consequence of the opinion of 
the privy council, had become in- 
dispensably necessary : and this the 
rather, that parliament was now 
_ to be called upon to confirm that~ 
opinion, and sanction the measure 
adopted by an act of the legislature. 
As to the degree of satisfaction to 
be required, and expected, with 
Tespect to the grounds of necessity 
‘on which the measure had been 
adopted, the state of the bank was 
asubdjecf of inquiry of so critical 
and delicate a nature, that it could 
Rot, consisten‘!y with public safety, 
[187 
be pushed to toogreat particularity, 
or minuteness of detail. The in- 
quiry ought to be conducted in the 
most discreet manner, consistent 
with the necessary satisfaction of 
the house. It would be proper, 
then, that.the business should be 
confided to a secret committee, 
and that they should be expressly 
instructed, by the house, not to push 
their inquiries too minutely into the 
particulars he had suggested, but 
to confine theirinvestigation tosuch 
circumstances of the genera! state 
of the bank, as might be sufficient 
for the purpose in view. It was 
not for him, he said, to point cut 
in what manner the members of | 
the secret committee ought to exer- 
cise the important trust committed 
to them by the house; but, if it 
should be proved, by the evidence 
of the members of the bank di- 
rection, that the extent of the late 
demands on the bank, and the 
rapidity with which they were 
brought forward, were likely to 
occasion such a pressure, as not to 
leave a sufficient fund for the pub- 
lic service ; and that their opinion, 
on this point, entirely coincided 
with that of his majesty’s minis- 
ters; astrong argument would then, 
surely, be afforded, that the mea- 
sure which the necessity of the 
times required, on the part of the 
executive administration, it was 
incumbent on the legislature to 
confirm and enforce. On these- 
grounds he moved, that a secret 
committee be appointed to ascer- 
tain the total amount of the out- 
standing demands on the bank of 
England, and likewise of the funds 
for discharging the same; and that 
they do also report their opinion 
of the necessity of providing for 
the confirmation, and continuance, 
of 
