232 
peny before the minifter; in confe- 
quence of which, an order of council was 
made, on the 26th Feb. prohibiting 
the farther iflue of fpecie from the 
Bank. 
On the following day (Feb. 27th) 
both Houfes of Parliament affembled; 
when the Lonp CHANCELLOR read a 
meflage from the King, importing, that 
*‘ the peculiar nature and exigency of 
the cafe, appeared to require, in the firft 
inftance, the meafure contained in the 
Order of Ccuncil, which his Majefty had 
direéted to be laid before the Houfe ;— 
that in recommending this. important 
fubjeét to the ferious attention of the 
Houfe of Lords, his Majefty relied with 
the utmoft confidence on the experienced 
wifdom of his Parliament, for taking 
fuch meafures as might be beft calculated 
to Meet any temporary preflure,” &c. 
On the following day, the Duke of 
NorRFOLK moved, that the Order of 
Council fhould be read, and it was read 
accordingly. His Grace obferved, that 
he confidered the Chancellor of the Ex- 
cheguer, as the prime contriver, mover, 
and organizer of this extraordinary 
meafure; but he did nat think his 
reprefentation of the caufe of the 
{carcity of cath was fair. The alarms 
ef the country had, no doubt, occafioned 
a fcarcity, but the great caufe of the 
fearcity was, *¢ the exportation of fpecie 
to tubfidize the EmpEROR, and other 
powers on the continent.” He therefore 
moved, ‘* Tnat an addrefs be prefented 
to his Majefty, humbly foliciting that no 
farther exportation of gold or filver 
coin, or of gold or filver in bullion, 
fhould take place for the ufe of the 
EMPEROR, or any other foreign power, 
until the fenfe of Parliament fhall be 
taken upon the fubjeét.’’ This motion 
Was negatived by 34 againft s. 
‘The fame day, in the Houfe of Com- 
mons, Mr.Pitr prefentedameffage from 
his Majefty , fimilar to that prefented tothe 
Lords by Lord GRENVILLE, and moved, 
that it dhould be taken into confideration, 
by the howe the next day. He thoughtr it, 
hgwever, his duty, at that time, to ftate, 
would be the objeéts of his motion ; 
that in addition to the confideration of 
an addrefs to his Majefty, it would be 
proper to proceed to the appointment of 
a feleé&t committee, for the purpofe of 
examining the general ftate of the affairs 
ef the Bank of England ; that under the 
prefent circumftances, it would be ex- 
pedient to declare, by law, that the our- 
flanding engagements of the Bank of 
Public Affairs —Stibpage of the Bavk. 
[ March, 
England fhould be confidered as fecured 
by the national faith of the country, and 
that an aét fhould be made declaring that 
to be law, which already was the prac- 
tice, namely, that their notes fhould be 
received in every branch of public pay- 
ments. 
Mr, Fox obferved, that with refpeé& 
to the propofition of adding to the fecu- 
rity of bank notes by pledging the faith ~ 
ef government, upon the firft view, it 
did not appear objectionable. To make 
bank-notes payable from individuals to 
the public, or from one individual to 
another,. was a proper object of difcuf- 
fion; but to make them legal payments 
from the public to individuals, was a 
meafure fraught with injuftice, and cal- 
culated to deftroy the very foundations. 
He perceived, by 
of, the government. 
referring to the meffage, and alfo to the 
papers laid on the table, that it was in- 
tended to pay warrants for dividends 
with bank-notes. After fo many aéts of 
parliament.had been paffed, binding the 
government to pay the intereft of the 
national debt, not in notes, but in money, 
how alarming muft be that diftrets, 
which fhould drive the government to 
the neceffity of fuperfeding the laws of 
the country, by paying, ia bank-notes, 
that which the law declared fhould be 
paid in a different-manner ! 
_ Mr. Alderman ComBe_ repeatedly 
alked Mr. Pitt, if he meant to make 
bank-notes only receivable from the 
bank, or whether from man to man; 
but the Chancellor of the Exchequer 
evaded giving an anfwer to the ae 
Mr. SHERIDAN made feveral obfer- 
Vations upon this important fubjeét, and 
concluded by a motion againft the far- 
ther exportation of {pecie or gold, fimilar 
to that made in the houfe of Lords. 
The motion was oppofed by Mr. 
Pitt, who moved the order of the day, 
which was carried by 240 againft 77. 
~On the 27th of February, Mr. Pirt 
moved an addrefs to his Majefty, in an- 
{wer to his gracious meflage; which 
being agreed to, he moved * that a 
fecret, committee be appointed to afcer- 
tain the total amount of the outftanding 
demands om the Bank of England, and 
likewife the fum for difcharging the 
fame,’ &c. 
Mr. Fox faid, he agreed to the ap- 
pointing of a committee, provided they 
were furnifhed with fufficicnt powers, 
not only to inquire into the neceflity, 
which called for the order of council ; 
but alfo, into the cautes which Ere 
that 
er ee en ee 
Ww 
