130 
(No. 20.) 
Interview with the Chancellor of the Ex- 
chequer, 14th of June, 1796. 
THE Governor and Deputy 
Governor this day waited on Mr. 
Pitt with a ftatement of the Trea- 
fury bills paid by the Bank, which 
advance now to the fum of 
L.1,002,555 6 4 
and of bills already 
advifed, but noth 230,093 16 1 
yetdue - 
L. 1,232,649 25 
and requefted that fpeedy meafures 
might be taken to pay off the fame. 
—Mr. Pitt told them, That he had 
made arrangements to pay off the 
200,000l. which he had borrowed 
(as by his letter of the 25th of May, 
copied in the private minute book 
of the court) and alfo for the pay- 
ment of 800,000. out of the mo- 
nies received on the laft loan, for 
which he would take up Exchequer 
bills to that amount on the vote of 
credit of 1795; and, in confequence 
of thefe payments, he hoped the 
Bank would have patience to wait 
for the difcharge of the advance on 
the Treafury bills above mentioned 
until the quarter ending the 5th of 
July, of ‘the confolidated fund; 
when the furplus thereof fhould be 
applied to that purpofe— Which the 
Governor faid he fhould refer to 
the court for their opinion, 
(No. 21.) 
Copy of a Letter from the Chancellor of the 
Lxchequer, and Refalution of the Court 
of Directors, 21 of July, 1796. 
Downing-fireet, 
Wednefday, 20th of. JH, 1796. 
Gentlemen, 
AS the preffure of demands for 
the ’ public fervice, at the prefent 
A 
Ph PoP EE NDE “TO 
moment, prevents the payment iz 
cafh of the fum advanced by the 
Bank on Treafury bills, I fhould 
confider it as a great accommoda- 
tion if the court would accept of 
Exchequer bills on the vote of cre- 
dit, to the amount of the fum now 
due beyond five hundred thoufand 
pounds. I would alfo beg the fa- 
vour of you to propofe to the court, 
in order to guard againft any far- 
ther excefs on that point, that any 
farther fums to be advanced for 
Treafury bills fhould be paid in Ex- 
chequer bills, on the credit of the 
confolidated fund, at the end of 
each month. I am alfo under the 
indifpenfable neceffity of expreff- 
ing my earneft hope, that the court 
will be induced to make a prefent 
advance of eight hundred thoufand 
pounds, on the'credit of the con- 
folidated fund, which will enable 
me to make provifion for the pre- 
fent demands, and to pay immedi- 
ately the four hundred thoufand 
pounds lately advanced by the 
Bank, and the Navy bills now due. 
I fhall alfo be obliged to requeft a 
_ farther advance of the like fum of 
eight hundred thoufand pounds, on 
the fame fecurity, towards the end 
of the month of Auguft. It gives 
me much concern to be obliged to 
apply for an accommodation to fo 
large an extent; but I cannot too 
ftrongly reprefent how neceflary it 
is for the public fervice : and I truft 
the very large repayments which 
are fecured to the Bank in the courfe 
of the prefent year, will admit of 
their making thefe temporary ad- 
vances at a period when they are 
peculiarly important. 
I have the honour to be, &c. 
(Signed) Ww. Pitt. 
Governor and Defuty Governor 
of the Bank. 
P,S, In cafe the Bank fhould 
find 
