1797-1 
war; which, he infifted, had been cones 
duéted with great ability, and had been 
attended with the mo brilliant fuc- 
ceffes; he, therefore, gave hiv negative 
to the motion. The Marquis t OWNS- 
HEND {poke againft the motion, and 
contended, that the country was not im 
that dangerous fituation it had been re- 
prefented. On the contrary, the Duke 
of NorFo Lk thought the prefent de- 
plorable fituation of the country, loudly 
called for the prefent motion. ‘To this 
fituation the incapacity of the minifters 
had reduced it; and it would he the 
height of folly, to conunue to him the 
power of doing farther mi(chiet. His 
grace replied to an exprefhon which had 
been made ufe of, during the debate, by 
the Earl of Kinnoul, ‘* that no {pecific 
proof had been brought in fupport of 
the motion,” by applying what an ele- 
gant writer had faid, by way of com- 
pliment, to the architect of St. Paul Sy 
<< S$) monumentum queris circum adfpice. 
If proofs were wanting againft the 
minifter, they were to be found in 
every inftance of his conduct through- 
out the war, which had reduced. the 
country to a ftate, vibrating between 
aétual exiftence and total annihilation. 
The Earl of Derby, the Marquis of 
Lanfdowne, and the Duke of Bedford, 
{poke in favour of the motion. When 
the houfe divided, there appeared for 
the motion 18, againft it 104. j 
Mr. SHERIDAN, on the 4th of April, 
moved, inthe houfe of commons, ** That 
the houfe refolve itfelf into a committee 
of the whole houfe, to enquire whether 
it be confiftent with a due regard to 
the effential interefis of the country, 
that, under the prefent circumftances, 
any farther advance fhould be made to 
his imperial majefty ?”’ oe 
Mr. Sheridan prefaced this motion, 
witb a {peech of confiderable length ; in 
which he pointed out the deplora le 
tate of public credit in this country, 
brought on by the deftructive meatures 
purtued by the minifter. it it fhould 
appear to the houfe, he faid, that the 
bank, had repeatedly reprefented to the 
minifter, the fatal tendency of his mea- 
{ures ; and thar he had repeatedly vio- 
Jated the moft folemn promifes and en- 
gagements, then the © directors would 
ftand clear of much of the blame, and 
much would attach to the honourable 
gentleman. 
On the 3d day of December, 1795, 
the Directors of the Bank came to the 
refolution of communicating to the 
Public Affairs. —Britifh Parliament. 311 
Chancellor of the Exchequer, “ That 
after a very folemn deliberation, ade- 
quate to the importance of the ‘fubject, 
they were unanimouily of opinion, that 
fhould a loan. (viz. a loan of 3,000,0091,. 
to the emperor) take place, they’ were 
but. too well grounded in declaring, that 
from the aétual efie&ts of the emperor's 
lal loan, and the continued drains of 
{pecie and bullion they then experienc- 
ed, that they had the moft cogent rea- 
fons to apprehend very momentous and 
alarming coniequences. They were 
theretore led to hope, that the Chancel- 
lor of the Exchequer, would be pleafed 
to lay afide the adoption of fuch a mea~ 
fure; which, they begged leave to re- 
peat, would be, in their opinion, moft 
fatal in its confequences. 
On the 14th of January, 1796, when 
the fcheme for afifting the emperor to 
raife a loan in Germany, by the guaran- 
tee of the parliament of Great Britain, 
Was in agitation, the Bank treafurer re- 
ported to the Chanceilor of the Exche- 
quer, the opinion of the committee of 
treafury, thar they could not look upon 
that {cheme in any light which would 
not, one way or other, be detrimental to 
this country: and onthe rith of Feb- 
ruary, 1796, the Dire€étors of the Bank 
came to another refolution, that if any 
farther loan or advance of money to the. 
emperor, or to any foreiga ftate, fhould, 
in the prefent Rate of affairs, take place, 
it would, in all probability, prove fatal 
to the Bonk of England. Yo the frit 
refolution of the Bank Direétors, Mr. 
Pitt replied, that certainly, as matters 
were then ftated, he fhould not think 
then of bringing forward fuch a mea- 
fure. To the fecond refolution of the 
bank, Mr. Pitt replied, that he did not 
fee the neceiity of it, and fuppofed 
that it was adopted in a momentof alarm. 
After inveiyhing againft Mr, Pitt's 
conduét, as exhibited by the foregoing 
correfpendence, and his proceedings 
during the time, Mr. Sheridan endea- 
voured to fhow, that the prefent dif- 
trefied ftate of public credit was attri- 
butable to him, and mot to any “ un- 
founded alarms;’’ for this he had the 
authority @f the Bark Directors, ail of 
whofe prediétions had been attually ve- 
rifled. Mr. Sheridan next ftated the 
ruinous confequences of a loan to the 
emperor, the repayment of which, he 
faid, was almoft hopelefs. Mr. Pitt re- 
plied, that the honourable gentleman’s | 
{peech was inconfiftent with his motion, 
and denied, that the ftoppage of. the. 
Bank 


