the bank, because he had the firmest confidence in its solidity, and such an inquiry might considerably hurt its credit; but he deemed it highly expedient that a committee should be appointed to inquire into the grounds upon which the order in council had been issued. He was of opinion, at all events, the two inquiries ought not to be separated. An instruction, if necessary, might be given to the committee, to report upon the circumstances of the bank before it entered upon the other inquiry. But he did not perceive so much dispatch was requisite, because the proclamation, at present, had all the effect of a law, and a bill might be immediately passed as a matter of temporary accommodation, to enable the bank to issue small notes. So far, however, as he had made up his opinion, he disapproved of a committee to inquire into the circumstances of the bank, as such an inquiry might be productive of evil, and could not possibly do any good. For what was the result expected to be? There was but one hope, and one opinion, that the bank would be found to be perfectly secure. Why then should the public guarantee their notes? As well might the Master of the Mint indorse a guinea. But what was the nature of this guarantee which government so generously offered to the bank? Government first lays hands on the cash of the bank. Next day government says, "You cannot pay your notes." "No," replies the bank, "because you have taken away our cash." "Very well, then," say government," You must stop payment till we examine into your affairs, form a partnership, and indorse your bills." The bank might very justly answer, "Give us back our cash, and we neither want your partnership nor your guarantee." Had such a man as Sir John Barnard presided at the bank, he would have taken the order of council and thrown it in the face of the messenger, for in either case it was an affront upon that body. If they had cash, what right had the chancellor of the exchequer to seize upon it; if they had none, it was an insult to pretend to prohibit them from issuing it. And what was the value of this gaurantee, which government was so generous as to offer to the bank? Had not government broken its faith with all its creditors, with the bank, with the Emperor of Germany, and with every individual who were in possession of its acceptances? The solidity of the bank would be infinitely stronger, if it remained entirely unconnected with so discreditable a partner. Mr. Sheridan then suggested the

steps which, in his opinion, ought to be taken, if the difficulties really existed. Bank-notes ought to be made a legal tender to government, and government ought to be compelled to make every payment in bank-notes, except the dividends on the public stock, which ought to be paid in cash. He was unfriendly to a committee to inquire into the situation of the bank, but instead of opposing it, he would move an amendment, that these words be inserted into the original motion after "this house;" "and" also to inquire into the causes which have produced this order in council, and the grounds of providing for the order in council, dated the 26th of February, providing for the confirmation and continuance of measures contained in said order."

The house divided upon the amendment—ayes 11; noes 244.

MARCH 1.

STOPPAGE OF CASH PAYMENTS AT THE BANK.

Mr. Wilberforce Bird moved for leave to bring in a bill to suspend, for a time limited, the operations of two acts (prohibiting the issuing of any promissory note for less than twenty shillings, payable any otherwise than upon demand, &c.) as far as related to bankers not residing in the cities of London and Westminster, and the borough of Southwark.

MR. SHERIDAN said, he deplored the necessity to which we were now driven upon the subject of specie all over this kingdom. The remedy now proposed, he feared and believed to be absolutely necessary. It would undoubtedly be a great evil; yet, if omitted, a greater evil might ensue; and when two evils presented themselves to view, it was of course proper to choose the lesser; and, therefore, according to the idea he had upon the subject, not pretending to be thoroughly well acquainted with it, he thought that the remedy which was now proposed must be adopted. But he could not help saying a few words upon this matter, because it appeared to him to be of vast importance. The hon. gentleman said, that the manufacturers and bankers in the country were well known in the neighbourhood in which they live, and therefore there could be no inconvenience in this measure, with regard to the payment of the notes as they became due; but he thought the case was otherwise with regard to the capital, and therefore London, Westminster, and Southwark were to be omitted in the bills, according to the hon. gentleman's intention at present. That there might be great difficulty and

inconvenience in the extension of the bill, he had no doubt; for, most unhappily for this country, there must be great difficulty and inconvenience in the whole progress, and in every branch of this subject; but he did not know how it was possible to go on without making some provision, in this respect, for the capital as well as for the country; and here he hardly knew what to say; he was confounded when he looked at the probable consequences to which the measure which gave birth to these applications might lead. He knew not what provision was made, or could be made, for the payment of workmen, manufacturers, tradesmen or others, even for next Saturday night. He was sure, that if any measure was to be adopted upon the subject, not a moment ought to be lost. If a poor man was to be paid by a guinea note instead of a guinea, and no man would give him change for it without a discount of seven shillings, to what dreadful consequences might this not lead? What would a poor man do with his fourteen shillings instead of his guinea? What would the still poorer man do, whose whole weekly wages amounted to no more than fourteen shillings? and, he believed, the average priee of weekly labour was not higher. Indeed he apprehended the most dreadful consequence would soon ensue from these things; nor did he know how the evil was to be averted. He mentioned these things, that every man in the house should instantly turnh is thoughts to the subject. It would be dreadful, indeed, if these notes, instead of money, should become assignats; and he feared it would be so.

Mr. Pitt thought the effects of the suspension might be beneficial to London, Westminster, and Southwark. He should therefore wish for leave to bring in the bill that it should be larger than the motion asked; and therefore moved, as an amendment, "That the exception should be left out." This was assented to.

Mr. Fox moved—“That a committee be appointed to inquire into the causes which have produced the order of council." Mr. Pitt said, he objected to the appointment of a committee as now proposed, but not to the inquiry, or to its being conducted by the committee now appointed.

Mr. Sheridan said, that the mode of inquiry which the chancellor of the exchequer now proposed, was precisely that which was suggested by the amendment which he had moved, and which was rejected last night. The right hon. gentleman had asserted the dignity of the house with much warmth, and here he was permitted to retort upon him; but his speech was so barren of argument, that it need only be repeated to appear ridiculous.

Mr. Sheridan admitted that the mode of appointing committees by ballot was a good one at first, but it was now become one of those good rules, and good practices, which are so often converted into masks of imposture and abuse. The right hon. gentleman affected to treat a public canvass for a committee as absurd and indecent. But he might have recollected, that he himself had recourse to that absurd and indecent mode of appointing a committee at a very critical period (the time of the regency). He would now ask him why, at that time, he gave into such absurdity, and induced the house to act in a manner so unbecoming its dignity? It was because at that time he knew the case to be delicate and nice, and that the country would not have been satisfied with a balloted committee, which they knew to be a jury packed by ministers, to serve the purposes which they had in view. The right hon. gentleman asked why they could object to a committee whose names they did not know? What would the right hon. gentleman say, if he should assert that their names were known, and that several members who had treasury lists put into their hands at the door of the house, went away in disgust? He could not be permitted, by the forms of the house, positively to say who would be on the list of the committee, but he should merely mention who, in his opinion, would proper persons, and whose names, he would venture to predict, would appear on the list to be given in the course of an hour. If, however, that list agreed with his prediction, he presumed it would hardly be contended that he was such a prophet as to be able to tell the chances of a fair ballot. The names were very respectable, and it was necessary that they should be so, in order to give a colour to the business. Mr. Sheridan then read the names on his list as follows:

be

:

Sir John Scott, a very respectable name.

Isaac Hawkins Browne, Esq., a very proper person.

Charles Bragge, Esq.; he will entertain the committee with critical remarks.

William Hussey, Esq.

W. Wilberforce Bird, Esq.

William Plumer, Esq.

Thomas Powys, Esq.

John Blackburne, Esq.

Thomas Berney Bramston, Esq.

All very respectable gentlemen!

He must observe, however, that in this list ministers have not preserved the rules of proportion, for his side of the house were entitled to have five and a fraction. He did not charge the chancellor of the exchequer with making out the list himself. Here, said Mr. Sheridan, I see the right hon. gentleman opposite (Mr. Dundas) smile, as if he would say, "No, my right hon. friend, in the innocence of his heart, never suspected such a thing; but there are plenty around perfectly competent to the task." With respect to the question itself, he was perfectly indifferent whether an inquiry was instituted or not, if another committee was not appointed. An hon. general had endeavoured to account for the secretary at war not signing the order of council; he believed that it proceeded from the reflections it contained against the alarmists; for he was so rooted an alarmist himself, that he was sure he could not believe that any of his tribe could act in a manner worthy of reprehension. He begged pardon of the house for being jocular on so grave a subject; but, even amidst the wreck of public credit, and on the brink of the country's ruin, it was impossible not to laugh at the juggling tricks and miserable shifts to which ministers had recourse to screen themselves from punishment.

The house divided-for the motion 67; against it 141.

Mr. Sheridan then moved-" That Mr. Fox be added to the committeee on the affairs of the bank, &c."

The house divided-ayes 53; noes 144.

MARCH 3.

STOPPAGE OF CASH PAYMENTS AT THE BANK.

A clause was brought up by Mr. Bird, which he was desirous should be inserted in the bill, viz.—“ That if any person should fail in the payment of a note three days after it became due, that it should be lawful for the justices to summon him before them, to award costs to the plaintiff, with the payment of the