206] ANNUAL REGISTER, 179%. 
points. The motion, submitted to 
the house, appeared to him to rest’ 
on two grounds : first, the increased 
advances made by the bank on trea- 
suvy-bills ; secondly, the loans and 
remittances made to the emperor. 
He argued, at considerable length, 
that there. were many other circum- 
stances, and those very powerful in 
their operation, that hadcontributed 
to the extraordinary demand for 
cash, exclusively of these assigned 
by the honourable gentleman.—As 
tothe alleged breach of .promise to 
the bank, in sending remittances to 
the emperor, without meaning any 
personal application to himself,. he 
required the house to weigh, with 
peculiar caution, an evidence arising 
out-of a verbal correspondence, and 
in which one of the parties was ab- 
sent, and not even consulted, when 
it, was committed to writing, after 
an interval of two or three days. 
The advances to the emperor, which 
had taken place since the applica- 
tions of the directors to him, arose 
“evidently out of a new state of ex- 
isting circumstances, to which any 
‘discussion, ou that subject, which 
had previousiy taken place between 
them, could not be applieable.— 
Mr. Grey’s motion \was_ supported 
by Mr. Fox, and Mr. W. Smith : 
‘but the previous question moved 
by Mr. Thornton, was carried by 
206, against 65, 
_ 
When a national bank stops pay- 
ment, under a despotic government, 
there is ground for alarm, and de- 
spair; because there is none who 
can say to the despot, What dost 
thou? No third party to whom 
to. appeal. Ifa national bank, or 
one under the influence and con- 
trol.of government, stop payment, 
in a°free country, an inquiry, if 
not offered, may be demanded : 
an appeal may be made, by the . 
creditors, to a third party; to that 
justice and good ‘faith, and that 
regard to the maintenanceof pubs - 
lic credit, which, in the presentages 
constitute the spirit and strength of 
free governments. Whatever may 
be thought of the causes that ren- 
dered the interference of the privy 
council, in the affairs of the bank, 
necessary, there are few whe will 
affirm, that this interference was not 
prudent and indispensible. They 
said no more than this :—** Check 
a precipitation, which may convert 
an imaginary ,intoa real, evil. Have 
patience fora limited and a little 
time, aud of the responsibility of the 
bank and yovernment you shall be 
fully satished.”’"—The ftultilment of 
this predict.on is a credit, at once, 
to the character of Englishmen, and 
oi the British constitution, 
