before, was composed alinostentirely 
of their own supporters, witha due 
proportion of the members. of the 
cabinet. He was disposed to doubt 
of council, from the beginning ; 
and these doubts were confirmed 
by an investigation of the report of 
the committee. On the correspon- 
dence which had taken place be- 
tween the bank-directors and the 
chancellor of the exchequer, he 
meant to propose certain resolu- 
tions; of which he proceeded to 
state the substance. His grace went 
through the different parts of the 
correspondence, and particularly ad- 
verted to the resolution of the court 
of directors of the eleventh of Feb- 
ruary, 1796. and Mr. Pitt’s answer 
to it, in which he promises neither 
to make any further loan, nor ad- 
vances to the emperor,- without pre- 
viously consulting the bank ; while, 
at the very moment, he was sending 
money to his Imperial majesty. 
After reprobating the conduct of 
- administration, in theseverest terms, 
and describiug ministers as the de- 
spoilers of our fortunes! oppressors 
of the poor! and plunderers of the 
} rich! he moyed the first of the fol- 
- lowing resolutions : 
_ I, That it appears to this house, 
that, subsequent, to the month of 
- June, 1795, and during the year of 
1796, a great diminvtion was ex- 
_ perienced in the specie of the bank 
of England. 
_ IL.» That it appears to this house, 
} that the governor, and deputy-go- 
 yernor, of the bank, did, at various 
_ times, represent to the chancellor 
_ of the exchequer, the danger to the 
bank from the diminution of its 
_ Specie, particularly at the following 
| periods,; (amounting to twelve, and 
which were particularly specified). 
HISTORY OF EUROPE. 
the matter contained in- the order ' 
[195 
{II. That it appears, that, during 
these periods, the directors of th® 
bank frequenuy remonstrated with 
‘the chancellor of the exchequer, 
on the-magnitude of their advances 
to government, anxiously requiring 
payment, or a considerable redue- 
tion of the same; but ihat, never- 
theless, the chancellor of the ex- 
chequer not only neglected to com- 
ply with the object of these re- 
monstrances, but, usually, under 
pretence of the necessity of the 
publi¢ service, renewed his demands 
.for farther aid; and that, under the 
exigency of the case, as stated to 
them by the chancellor of the ex- 
chequer, the directors of the bank- 
were, from time to time, induced 
to consent to farther accommodas 
tion. ; 
IV. That it appears, that the 
chancellor of the exchequer fre. 
quently solicited such farther ace 
commodation, in the most anxious 
and pressing terms ; declaring, that 
it was impossibic to avoid the most 
serious embarrassment tothe public 
service, unless the directors of the 
bauk afforded the assistance he re- 
uired, 
V. That it appears, that, although 
by these means the directors of the 
bank were induced to comply with 
his demands, they generally ex- 
pressed their reluctance in strong 
language ; and, that they, at last, 
that is to say, on the twenty-cighth 
of July, 1796, thoucht it necessary, 
for theirown justification, to request 
the chancellor of the exchequer to 
lay betere bis majesty’s cabine: their 
most solemn and serious rernon- 
strance: in which they declare, 
that, ‘‘sensible of the alarming 
and dangerous state of pubjic cre- 
dit, nothing could induce them to 
comply with the demand then made 
[OQ 2] upon 
