A. D. 1793. 26f)f 



Lord Sheffield, Sir Grey Cooper, Sir John Sinclair, Meffieurs Willianv 

 Pukney, Richard Muilman Trench Chifwell, John William Anderlbn, 

 Robert Smith, Samuel Bofanquet, Thomas Boddington, William iv^an- 

 iiing, John Whitmore, Francis Baring, Edward Fofter, William Raikes, 

 Robert Darell, Robert Barclay, Charles Grant, Gilbert Innes, Jeremiah 

 Harman, and James Brogden, were conftituted commiffioners for ad- 

 vancing exchequer bills to the amount of /^5, 000,000, payable in equal 

 portions on the lafl days of September, December, March, and June, 

 enfuing, and bearing intereft at the rate of two-pence halfpenny per. 

 day for every /^loo, to fiich of the merchants, traders, bankers, &c. of 

 Great Britain as fhould apply for them, in fums not under /?4,ooo, on- 

 fecurity approved by the commiffioners, or on the depofit of goods of 

 double the value of the fums advanced, to be lodged in warehoufes to 

 the fatisfadlion of the commiffioners, if in London, and of the principal 

 officers of the cuftoms or excife, if in Briftol, Hull, Liverpool, the city, 

 and port of Glafgow, Edinburgh, and Leith. The payments were re- 

 quired to be made by inflallments at the bank of England fifteen days?, 

 before each bill of exchange fhould become payable, together with in- 

 tereil at five per cent on the fum exprefled in the bill computed from 

 the date of it to the day of payment ; failing which, the fureties were 

 to be fued, and the goods depofited fold at public audion. [23 Geo... 

 HI, c. 29] 



This was not one of thofe officious and ill-concerted interferences, by 

 which fome governments ruin the interefts of commerce, while they 

 profefs themfelves the protedors of it. The very firft intimation of the 

 intention of the legiflature to fupport the merchants operated all-over 

 the country like a charm, and in a great degree fuperfeded the neceflity 

 of the relief by an almoft inftantaneous reftoration of mutual confid- 

 ence. The event of this meafure will be related afterwards. 



May 10'" — Some of the principal people of Liverpool had digefled a 

 plan for fupporting the credit of the merchants and traders of that town,, 

 whofe very extenfive and complicated concerns had involved them in, 

 perhaps, a greater {hare of the general calamity than any other place, 

 except London. Their propofal was to ifilie negotiable notes I'ecured 

 on the efi;ate of the corporation, which is fufficiently ample, and to em^- 

 ploy them in fupport of the credit of individuals *. And it received 

 the fandion of parliament, who authorized the corporation of Liverpool- 

 to ifllie notes to the amount of ^{"200,000. [c. 31] 



The profped of this ad, as of that for the general relief of the com- 

 mercial intereft, had fuch a powerful effed, that, when it was pafled, 

 Liverpool had in fome meafure already obtained the advantages exped- 

 ed from it in the return of confidence and credit ; infomuch that little. 



* The Liverpool petition containing this propofal was prefentcd to the houfe of commons on th; 

 U.'" of. April. 



