902] ANNUAL REGISTER; 
with this exception, was agreed to. 
The house again resolved itself into 
a committee on the bank-bill, on the 
31st of March ; when the chancel- 
tor of the exchequer proposed to add 
a clause to the bill, the purport of 
which was, to allow'the bank to re- 
pay, at different periods, in cash, 
those who might, at their discre- 
tion, hereafter deposit cash with the 
direciors of the bank, so that no 
more than three-fourths of stich 
sums should be repaid by the 
bank in cash, during the conti- 
nuance of the present bill. This 
elause was Opposed by Mr. Fox, 
and strongly supported by Mr. 
Thornton; after which it was 
agreed to without a division. 
Mr. Pitt next introduced a clause 
to enable the bank, notwithstanding 
the present restriction,toissue forthe 
accommodation of private bankers 
and traders in the metropolis, asum 
~ in cash, not exceeding 100,000/. 
which was adopted without a divi- 
sion. Thereport was ordered to be 
received 6n the Monday following. 
On that day, however, it was farther 
postponed, but the bill was read a 
third time on the 4th of April. On 
that day, Mr. W. Bird presented a 
clause, by way ofa rider, that in all 
cases where bank-notes might be 
tendered ‘in payment of thé rent, it 
should not be lawful for the person 
to whom the rent was due, if he 
refused such tender, to seek a re- 
medy by way of distress. The 
clause was brought up and read a 
first and second time; but after 
some observations made by Mr. 
Pitt and Mr. Manning, it was ne- 
gatived without a division. 
Sir William Pultney next propo- 
sed a clause, the object. of which 
was to require the bank, within a 
certain short period after the passing 
1797. 
of the act, to come forward, and 
to declare whether they wished the 
restriction to continue ; and if they 
did not, that the prohibition should 
immediately cease. 
The chancellor of the exchequer 
opposed the clause, and Mr. Fox 
supported it. 
The bouse divided on the ques- 
tion, that the clause be brought 
up. Noes, 76; Ayes, 43. 
On the third reading of the bill, 
April 7th, sir Wm. Pultney moved 
an amendment to the clause, which 
limited the operation of the bill to 
the 24th of June; by leaving ont that 
period, and substituting the sixth of 
May. This objection, to the length 
ot the time allowed by the bill, as it 
then stood, was not grounded mere- 
ly on the conviction that the time 
allowed, or indeed a much longer 
time, would not enable the bank to 
pay the demands on it in eash as 
formerly, but because our situation 
had become of so perilous a mature, 
that we ought not, on any account, 
todelay, amoment longer thanis ab: 
solutely nécessayy, to take the most 
effectua] means of placing this coun- 
try on its former high and Jofty foot- 
ing of national credit. - Sir William, 
who, ona former occasion, had sta. 
ted, that our national and commer- 
cial credit might be re-established 
in.a month, now stated to the house 
the means by which those ends 
were to be accomplished. His 
project was, to pass an act for 
opening an immediate subscription 
for another bank, whose operations 
should commence on the day after 
the period fixed for the bank to pay 
its notes in cash ; but not to com- 
mence at all, in case the bank shou'd, 
on that day, re-commence its pay- 
ments in specie, and continue to 
pay cash freely. If our limits 
permitted 
