132. 
has been already agreed to for the 
prefent month, the court, can con- 
fent to advance the fecond fum of 
§00,0001. in the month of Auguft, 
and can alfo make provifion for the 
ayment of fuch farther Treafury 
ills as may fall due in the next 
month, or as may be drawn pay- 
able in September and. October. 
With refpe& to thofe for the two 
latter months, as none fuch have 
yet been accepted, I fhould hope 
an. arrangement may be made for 
accepting them, payable at a period 
fubfequent to Odtober ; by which 
means the inconvenience of the 
advance may poflibly be in a great 
degree obviated. 1 muft requeft 
you to take the firft cpportunity 
of laying this application before 
your court, and to ftate to them, 
that objects of the utmoft import 
ance to the public are involved in 
their determination upon it. 
I have the honour to be, 
Gentlemen, 
Your obedient humble fervant, 
(Signed) Wm. Pitt. 
Governor and Deputy Governor 
of the Bank. 
Refolved, That this court do 
agree to advance, for the fervice 
of the public, the fum of 800,0001. 
towards the end of the month of 
Auguft, on the fecurity of Exche- 
quer bills to be iffued under the 
act of parliament on the furplus of © 
the confolidated fund; and that 
fuch Treafury bills as have been ac- 
cepted and fhall fall due during the 
month of Auguft, be likewife dif- 
charged on a depofit of like Ex- 
chequer bills, to be iffued on the 
confolidated fund to an equal 
amount; which bills have been 
ftated by the Chancellor of the Ex- 
chequer to be nearly about the fum 
of 300,0001. 
9 
<— 
APPENDIX TO 
That this court do not engage to 
advance for any fum of Treafury 
bills which may be.drawn, and fhall 
fall due after the month of Auguft. 
That this court do expeé that 
the Chancellor of the Exchequer 
will give a promife thata new mode 
of paying the Treafury bills fhall be 
adopted immediately on the meet- 
ing of parliament, as this court will 
not continue the mode of difcharg- 
ing them any longer. 
Refolved, That the court, hav- 
ing granted this accommodation 
with great reluétance, and cons 
trary to their wifhes, the Governor 
be defired to prefent to Mr. Pitt a 
copy of the following memorial; 
and requeft of him, that, for the 
juftification of the court of Direc- 
tors, the fame may be laid before 
his Majefty’s cabinet :— 
“ The court of Directors of the 
Bank of England, fully fenfible of 
the alarming and dangerous fitua- 
tion of the public credit of this 
kingdom, and deeply impreffed with 
the communication lately made to 
them by the Right Honourable 
William Pitt, both by letter and in 
a conference with the Governor 
and Deputy Governor, are very 
willing and defirous to do every 
thing in their power to fupport the © 
national credit, and to enable his 
Majefty’s minifters to carry on the 
public fervice; but in complying 
with the requeft made to them by 
the Right Honourable William 
Pitt, in his letter of the 27th in- 
ftant, they think that they fhould 
be wanting in their duty to their 
proprietors and to the public, if 
that compliance was not accom- 
panied with the following moft 
ferious and felemn remonftrance ; 
which, for the juftification of their 
court, 
