200) 
ville, in opposition to the resolutions 
moved by the duke. of Bedford: 
but nothing new, of any importance, 
was added. to,what had been urged 
by.Jord Hawkesbury. ‘The previ- 
ous question being put, on eachof the 
resolutions, was carried. Wenow re- 
turn to the proceedings of the house 
of commons on the same subject. 
Op the 34 of March, Mr. Bram- 
stone brought up the first report of 
the-committee appointed to inquire 
into the state of the bank, which 
was, in substance, the same aah that 
of the committee of Lords.*. On 
the 7th of March, Mr, Bramstone 
brought up the second report of the 
committee, stating it to be their opi- 
nion, also agrecably to that of rhe 
committee of lords, ‘* that it was 
necessary to provide for the con- 
tinuance and confirmation . for a 
limited time; ofthe order in council, 
and submitting to the wisdom of 
parliament to “determine the time 
for which such order should ke con- 
tinued.” The two reports were 
taken into consideration, by a com- 
mittee of the whole house, on the 
oth of March, But, previously to 
the reading of the order of the day, 
Mr. Sheri dan said that, according to 
the report of the committee, go- 
vernment was indebted to the bank, 
in various sums, independent of 
eleven millions, which the com- 
mittee reckoned as forming so much 
of the capital steck of the bank : 
when, in fact, that-eleven millions 
was no. debt at all. Instead of be- 
ing included in. the capital stock of 
the bank, as a debt, it should have 
been reckoned as an Banuiky of 
« 
* The amount of the demand on the bank was : : 
ANNUAL REGISTE R, 
1797. 
330,000/. per annutn, being the 
stipulated interest for the other, du- 
Ting a certain term of years.—The 
order of the day being read, 
The chancellor of the exchequer 
rose to make some observations on 
thetwo reports. With regard to the 
first, which related to the finances of 
the ba nk, lie observed that, from the 
moment of its being made public, 
there appeared an almost general 
persuasion of their ultimate solidity 
and sufficiency. Buttheré was ano- 
ther source from which he drew his 
conviction of the prosperous state of 
the bank. ‘Ihe merchants and 
bankers of London had shewn the 
solidity of the bank, by agreeing ta 
support its credit, in the acceptance, 
for a time, of their paper, instead of , 
specie, As to what had been al- 
leged by Mr, Sheridan, the ques+ 
tion was not whether the bank con- 
tained actual specie for all the de+ 
mands which might be made upon 
them, but whether they had goods 
due to them, or property of any dee 
scription which might be finally 
available to them in the liquidation 
of the debts owing to the public, 
It appeared, upon Othe report, that 
the bank was rich, was possessed of 
substance, far exceeding the de- 
mands of the public, and that the 
individuals composing the corpora- 
tion would have a far greater sum 
to divide, if- a division of property 
was totaké place, than they had ori- 
ginally embarked ; and therefore 
their security was ‘altimately good, 
With respect to the second report, 
it was his inteniion to refer to the 
committee, powers to enable them: 
£- 13,770,390 
Assets, not exclusive of the sum of 11,686,800/. of permanent debt, 
due by government, amoun:ed to 
So that there was a surplus of . 
, 17,597,280 
33526.590 
to 
