TIDE GHEREON TELE. 
by the Committee, it was agreed 
to report the refult thereof to the 
Houfe, as follows: | 
That the total amount of out- 
ftanding demands on the Bank, on 
the 25th day of February laft, was 
13,770,3901. and that the total a- 
mount of the funds for difcharging 
thofe demands, over and above the 
permanent debt due from go- 
vernment of 11,686,800l. was, on 
the fame day of February laft, 
17,597,280l. and that the refult is, 
that there was, on the 25th day of 
February laft, a furplus of effeés 
belonging to the Bank beyond the 
total of their debts, amounting to 
the fum of 3,826,890l. over and 
above the before-mentioned perma- 
nent debt of 11,636,800l. due from 
government. 
The Committee think it right to 
obferve, that this account is made 
up to the 25th of February inclu- 
five; and that fince that day, feve- 
ral confiderable iffues have been 
made by the Bank in bank notes, 
both upon government fecurities, 
and in difcounting bills, the parti- 
eulars of which could not immedi- 
ately be made up; but that as thofe 
iffues were made upon correfpond- 
ing fecurities, taken with the ufual 
care and attention, the actual ba- 
lance in favour of the Bank has not 
been materially varied, but, if at 
all, has been rather increafed. 
In proceeding to the confidera- 
tion of the fecond part of the order 
of reference, in which the Com- 
mittee are directed to report to the 
Houfe their opinion on the necef- 
fity of providing for the confirma- 
tion and continuance of the mea- 
fures taken in purfuance of the mi- 
nute of council of the 26th of Feb- 
ruary, the Committee have thought 
it right to confine their enquiries to 
ou. XXXIX, 
97 
thofe points only on which that ne- 
ceffity appeared to them principally 
to depend; and having examined 
to thefe points the Governor of the 
Bank, and the faid Mr. Bofanquet 
(one of the Dire¢tors thereof) the 
Committee find, 
That the Bank of England has 
lately experienced an unufual drain 
of cafh. 
That this drain was owing, in 
great part, to demands for ‘cafh from 
the country; ‘fuch demands being 
made upon the Bank indire¢tly 
from the country, but direétly from 
the bankers of London, who are to 
fupply the country. 
That by the effects of this drain, 
the cafh of the Bank has been of 
late very confiderably reduced; that 
it has, however, been known, by 
thofe converfant in the affairs of the 
Bank, tobe a great deal lower; but 
that on this occafion the xapidity of 
the demands has been unparalleled. 
That thofe demands have been 
of late progreffively increafing, but 
particularly in the laft week: and 
that in the two laft days of that 
week, the demands exceeded thofe 
of the four preceding days. 
That there was every reafon to 
apprehend that thefe demands, and 
the confequent progreflive reduction 
of cafh, would continue, and even 
increafe. 
That by the effeét of fuch reduc- 
tion, if it were to continue in the 
fame, or in a ftill farther increafed 
proportion, the Bank of England 
would be deprived of the means of 
fupplying the cafh which might be 
neceflary for prefling exigencies of 
public fervice; and this led the 
Bank to make the communication 
they did to his Majefty’s minifters. 
And laftly, That fince the date of 
the minute of council above men- 
G tioned, 
