I22) 
duétion of the amount of the Trea- 
fury bills paid by the bank, fo that 
the fum advanced may never ex~ 
ceed 500;0001; of which his letter 
niakes not the leaft mention. 
(No. 6.) 
* Copy of a Letter from the Chancellor of the 
- Exchequer, and Réfolution of the Court 
of Directors, 1 3thof Auguft, V195. 
Downing-frreet, 12th Aug. 1795. 
Gentlemen, 
I HAVE to requeft the favour 
of you to ftate to your court, that 
if they think proper to afford the 
accommodation’ which I have re- 
quefted in my letter of the 5th in- 
ftant, by taking Exchequer bills 
payable out of the growing produce 
of the confolidated fund, they may 
depend upon meafures being imme- 
diately taken for the payment of 
one million of the fum they have 
advanced for the payment of bills ; 
and farther payments,- to the a- 
mount in the whole to another 
million, may be made in the courfe 
of September, October, and No- 
vember, in fuch proportions as may 
be found convenient. But as frefh 
bills may be expe¢ted to arrive, lam 
under the neceflity of requefting 
that a latitude fhould be allowed for 
the payment of fuch bills to ana- 
mount not exceeding one millionin 
addition ; for which fum payment 
fhall be provided before the end of 
February, or, if the court material- 
ly prefer it; of January. In order 
to guard againit any frefh difap- 
pointment, I beg leave to fuggeft, 
that it may be ufeful if, from.time 
to time, you fend me notice when- 
ever the amount advanced comes 
within fifty thoufand pounds of the 
rs) 
a 
SASPOP LEYINODAIEX STO! 
limit fixed, that warrants may be" 
prepared without delay. . 
Tam, &c. 
(Signed) Wm. Pirr. 
Governor and Deputy Governor 
of the Bank. 
IN the court held this day, after 
reading Mr. Pitt’s letter of the 12th - 
of Auguft, it was refolved, That 
this court do not accede to the pro- 
pofal contained in the faid letter. 
It was tarther refolved, That the 
court do confent to Mr. Pitt’s 
requeft, in his letter of the 5th in- 
ftant; namely, to advance two 
millions five hundred thoufand 
pounds on Exchequer bills, on 
the fecurity of the furplus of the 
confolidated fund,’ to be repaid as: 
follows : 
About eleven hundred thoufand 
pounds from the preduce of: 
the quarter ending the 10th 
of October next; and for 
the remainder they are wil- 
ling to wait till the ending 
of the quarter ot the 5th of 
April, 1796. 
And that the Governor and Depu- 
ty Governor be defired to inform 
Mr. Pitt, that the court ftill adhere 
to their former refolution, of infift. 
ing that the credit on the Treafury 
bills be reftrained to 500,0001; 
but that the court will wait for the 
repayment of one million of the 
money already advanced beyond 
the faid fum of 500,000]. until the 
latter end of November (if it is of 
effential fervice to the government 
of the country that it fhould do fo) 
provided pofitive affurance is given 
by the Chancellor of the Exche- 
quer, that this additional million 
fhall punctually be repaid at that 
time; and that in no cafe, if thig 
propofition 
