204] ANNUAL: REGISTER, 1797. 
Sir . William Pultney “was not 
deterred,, by the failure of his 
motion, gor shortening the. dura- 
tion of the bank-bill, from moving 
for “‘ leaye to bring in a bill for the 
establishment of anctherbank,should 
the bank of England not, open for 
payment in specie, on the 24th of 
June next.” If they should not be 
able to open for payment at that 
period, there cculd, be no ground 
for continuing their monopoly any 
longer: but if they should, so se- 
cond bank, would be established, 
and his proposal, at all events, would 
do no harth, He thought, however, 
that if another bank were instituted, 
it would aid the operations of the. 
old bank. . Scotland had two banks, 
and the affairs of the old one were 
much more prosperous since the esta- 
blishment of the new. Though all 
the-arguments were previously op- 
posed to it, that. could be urged 
against a new bank of England, on 
the present occasion, he contend- 
ed that the monopoly of the bank 
was injurious; that an open compe- 
tition would be of public service ; 
and that, in severalinstances, the di- 
rectors of the bank had. been.im- 
provident, ‘Though sir William’s 
talents weve admired, and many of 
his remarks approved, yet his mo» 
tion was opposed by. sir Francis 
Baring, Mr. Samuel Thornton, the 
solicitoregeneral, Mr, Pitt, and Mr, 
Manning. It was supported, though 
not in a very decided tone, by Mr. : 
Sheridan; \who wished that some 
bank director would give him some 
farther information respecting the 
old bank. Qa the subject of bank- 
ing in gencral, Mr. Sheridan said, 
that it would not be amiss, if mer- 
cantile people, and others, in their 
schemes for multiplying the sign of 
wealth, would retura, as much as. 
possible, to the primitive principles 
of commerce; an example of which 
had of late been given ona grand 
scale by a society equally yrespect- 
able for-character and capital. He, 
would be readily. understood, he 
said, to allfte to the Security 
Bank, lately established in, Corn~ 
hill, by Messrs. Huchins and Harte. 
sinck yan institution that had already 
been productive of great convene 
ency to those who had occasion. to 
borrow money. on pledges, and 
which promised fairl, to be of ade, 
vantage also to. those who lent it., 
This institution, which was likely to 
be followed by many others ou the 
same plan, in different parts of the 
kingdom, might, perhaps, form no 
inconsiderable era in the history of 
exchange and commerce. seo 
Mr, Manning said, that there was 
every reason to hope that the direce 
tors of the bank would soon be en- 
abled to re-open it for payments in 
Specie. Wast quantities of gold had 
flowed into the bank, as well from 
the country as from abroad, and the 
bankers felt no inconvenience from 
the want of it.—On a division of 
the house, there appeared for the 
motion 15, against it 50. 
Guided by the unity of the sub- 
ject, we haye followed sir William’s. 
plan to the period of its discussion, 
and rejection, though this has car- 
ried us somewhat beyond that of 
another business in the. house of 
commons, originating in the stops 
page of the bank, and which it 
will be sufficient to touch on in 
a very summary manner, as we have 
already given an account. ef the 
same business, as it was introduced, 
treated, and disposed of, in the 
house of peers.. On the seit 
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