‘design of sending money to the con- 
éinent, to carry on the war, he was 
-bound in duty to give it his nega- 
tive. The house should reflect on 
the evils which such a measure as 
this would not fail to produce. It 
| wouldlessen the value of the paper 
veurrency of the kingdom. Hehad 
-seen the misery which tbat had pro- 
duced in other parts of the world, 
all provisions,* and bringing on a 
train of evils with which that house 
Was unacquainted, 
Mr. Wilberforce Bird, who re- 
presented a manufacturing town, 
had instructions from his con- 
would be’ recommended to enable 
them to carry on their business, and 
te answer the many demands to 
which itexposed them. A rumour 
had gone abroad, that it was the in- 
tention of the bank, to issue small 
‘notes of one or two guineas each. 
He was exceedingly solicitous to 
Know, if the rnmourhad any founda- 
tion, as such an expedient would 
quiet the alarm, and relieve the ma- 
-nufacturers from present pressures. 
» Mr. Pitt replied, that it was his 
Bcteation, before the house separa- 
ted, to move for leave to bring in 
-a Dill, which might be carried 
“through both houses very quickly, 
to enable the bank to issue notes 
below Sl. value. 
ingly issued in a foie ss They 
"were found to afford very great 
o have laid a foundation for many 
ti vils, particularly to the labouring 
Wiction has thus been miserably verified. 
HISTORY OF EUROPE’ 
‘by raising most rapidly the price of 
‘stituents, to inquire what method - 
f1St 
and other classes. of the people, as 
well as) to stipendiaries of all kinds ;- 
the very leisurely advancement of 
whose wages: and salaries is: usu 
ally very disproportionate to the ra+ 
pid depreciation in the value of the 
national currency, 
Sir William. Pultney — observed; 
that in 1793, the Newcastle bauk- 
ers had declared, as now, that they 
must stop thepayment of their notes 
in cash, under the pressure of tem~ 
porary scarcity ; but they soon ob- 
tained the necessary supply, and 
went on again as before. It was 
notorious to every body, that the 
bank had not always-beside them 
cash for all their notes; for, if they 
had, why issue notes at ali? How- 
ever, he was of opinion, that the 
causes, which had contributed to 
place the bank in its present situa- 
tion ought to be known. Though 
such a measure, as that adopted by 
administration, might do no harm 
for once, yet it was necessary to 
prevent itiffuture, It was certain 
that the country could not ‘stand if 
the credit of the bank was shaken : 
it was therefore necessary to protect ~ 
its stability, not by a partial, but 
full and particular investigation into 
the causes of its embarrassments, 
My. Hussey said, let the chancel- 
lor of the exchequer pay all the mo- 
ney advanced by the bank, and their 
present embarrassment would cease. 
Let him pay the ten millions due 
to the bank, and every thing would 
resume its usual course. 
Mr. Pitt, perceiving that some 
suspicions were entertained that the. 
measure adopted for succouring pub- 
_ * Atthe moment of writing this, June 10, 1800, the quartern wheaten loaf is 1s. 6... 
nd all,other provisions and necessaries of life high in proportion. 
His lordship’s pre- 
lic 
