G2] ANNUAL REGISTER, 1818. 



he had entertained of it he had 

 more than once communicated 

 to their lordsliips, and he had then 

 only farther to say, that his opi- 

 nions had not since undergone 

 any change. He was neverthe- 

 less open to conviction, and when- 

 ever the question for reconsidera- 

 tion might be proposed in that 

 House at the period of a session 

 when there would be time for 

 discussing it effectually, he would 

 willingly enter into such discus- 

 sion. 



The motion for a second read- 

 ing was then negatived. 



On March 4th Lord A. Hamil- 

 ton rose for the purpose of bring- 

 ing forward his promised motion 

 on the subject of the Bank. With 

 a view to understand the conduct 

 of the Bank he felt it necessary 

 to move for copies of the notices 

 issued byit for the payment of cer- 

 tain of its notes in cash within the 

 last year. A pretty general impres- 

 sion prevailed, that those notices 

 were issued merely for the pur- 

 pose of delusion, and to induce 

 a belief that the Bank was in pos- 

 session of the means, and was in 

 the progress of preparing to re- 

 sume its payments in cash. It 

 was therefore due to the charac- 

 ter of the Bank, as well as to the 

 satisfaction of the country, to 

 explain the motive and end of 

 those notices. It was now clear 

 that there was no intention of 

 resuming cash payments. A plea 

 was advanced for postponing that 

 measure, arising out of certain 

 negotiations for foreign loans ; 

 but this he believed to be a 

 mere pretence. The country, he 

 thought, had njt much reason to 

 rely upon the professions or pro- 

 mises of either the directors of 



the BaiJc, or the chancellor of 

 the exchequer, as to the probabi- 

 lity of the removal of the restric- 

 tion upon cash payments ; but it 

 was for tlie Bank to show whether 

 any, and what beneficial effect 

 had arisen from the steps it was 

 reported to have taken for the 

 resumption of its pa}'ments. This 

 was the object of his motion ; 

 and that motion could not be 

 resisted on any sych grounds as | 

 were advanced by tj^ chancellor | 

 of the exchequer towards tlic 

 close of tlie last session. The 

 noble lord concluded with mov- 

 ing, " That there be laid be- 

 fore tJiis House a copy of any 

 notice given by the Directors 

 of the Bank to the Public in the | 

 year 1817, respecting any pay- J 

 nient of their notes in specie ; 

 together with an account of the 

 amount of specie which in conse- 

 quence of such notice the com- 

 pany of the Bank became liable 

 to pay, and the amount actually 

 paid, to the latest period the 

 same can be made out.'' 



The Chancellor of the Exchequer 

 said, that the noble lord might an- 

 ticipate his objections to this mo- 

 tion if he recollected the grounds 

 on which he resisted a similar 

 motion last year. These were, 

 that nothing would be so unad- 

 visable on the part of that House 

 as to interfere with the conddct 

 of the Bank in a case of this 

 nature ; that such interference 

 was of all things the most likely 

 to derange the proceedings of 

 that body, and to impede those 

 preparations so necessary for that 

 final resumption of cash payments 

 which it was the wish of that 

 House and the country to witness. 

 Yet the noble lord would deem 



it 



