60 
previously give a summary of the 
principal matters, which occurred 
in both houses of parliament, to 
that period, when the dangers which 
now menaced us were no longer 
preblematical ; and when the king’s 
message, left no more doubt as to 
the hostile yiews of Bonaparte. 
On Thursday the third of Febra- 
ary, parliament met again after the 
Christmas recess ; for the first three 
or four days, the lower house was 
occupied principally, in settling the 
election petitions ; but on the 7th, 
the chancellor of the exchequer 
moved for leaye, to bring in a bill 
for the renewal of the bank restriction 
bill. The solvency of the bank 
he said, was undoubted; but after 
n0 less than twenty millions of 
specie, had been lately drained from 
the country for grain, it would be 
dangerous, suddenly to take off the 
restriction; as that might operate 
to draw all the remaining bullion 
out of the country. 
Mr. Tierney thought, that how- 
ever time and custom might have 
reconciled us to the measure ; it 
was a great evil, that the circulating 
siden of the country had been 
completely changed: it was now 
six years since we had any report 
from the bank; and consequently 
the house was entirely ignorant of 
what the bank had been doing in 
the mean while. He wished that 
this bill should not pass asa thing 
of course, but, that there should be 
an inquiry into the necessity of it. 
Mr. Fox agreed in opinion with 
Mr. Tierney in this respect: he 
wished, that the restriction should be 
continued for a short time only, 
in order to consider the state 
ef exchange’ and other matters, 
ANNUAL REGISTER, 
1803. 
which were supposed to make the 
further restriction necessary. & 
Mr. Banks expressed the same _ 
opinion, and wished the time that ~ 
this restriction should be in foreeal ‘ 
to be as short as possible. 
Lord Hawkesbury thought an 
inquiry into the state and admi- ; 
nistration of the bank of England, — 
quite unnecessary ; although | at a 
future time perhaps, he should not _ 
oppose a rigid investigation of the 
state of banking in general, through- 
out Great Britain. 
Sir Francis Baring, coincided with 
Mr. Addir. gton, that it was ne- 
cessary to wait, till trade had re- 
turned within its former channels. 
. The chancellor of the exchequer 
concluded this conversation, by con- 
fessing it was with reluctance and 
regret, that he proposed the present 
measure ; but however painful the 
duty, he ‘felt it a duty, that he was 
bound to discharge. 
Leave was then given to bring in 
the bill. When this bill had gone — 
into the committee, ; 
Mr. Addington moved, that the 
duration of it should be “ until six 
weeks after the commencement of 
the next session of parliament.” 
Mr. Banks, urged a variety of 
reasons for shorter time to be nam — 
ed; he principally relied on the 
state of exchange which was at par, . 
and the balance of trade, which was 
now in our favour: he concluded by 
moving as an amendment “ that 
the first of May, should be the day ont 
which the restriction was to cease.” — 
Mr. Princep supported the ori-_ 
ginal motion, on the ground, that 
no Joss or inconvenience, had been 
sustained by any body, in_conse- 
quence of the restriction. 
Mr, } 
