The British Press; or, Morning Literary Advertiser.
London, England, 1805-06-01 00:00:00

[Hi trAlettoSTtost 07 Ter IIIGrIT BOW. "FILL!**
PITT; Teken Ins Cris Or MAY, 1805.
Do T.ig 2iiresenyinstawc, of Malley. owned for flaraltlertlte,
ap died te !n0v0...6 not Naval ?—I kesee of one SUCh
!Lye Cie ethsitivas to state it!—lt was ere ad ranee Made from
Naval Lumley, us the coulee of the year 179 G ;...l think Lite in
the mummer .0 in the autumn 17,4; I am cot t ascertain
the recite tit .e ; it was made to the &sine of Nheart Boyd
toil Denied, who were then Contractor. for tat/ loans 1.4 G -
vrratotrol ; the advance was the sum of 40,000:. It watinole
le sousevuence of a teprooseittatital, I hat, Loot the chltcsety
which existed at that limo id obtatheor draft i., even on
pond seetinty, they were under suet. pecuniary en.harraideamits
es
would prevent their making good all hotelitient doe to GP.
yernmient Ulete.tionable securiti,, were g.ieli for the re•
payment of the adwnce ; and, instrr these ciocumeramees,
knowing 'mother ii'ary ot the time by .114:1, seriuti• mimed( f le
public service could be prevented, and end. retandiug that the
Naval service was net Ilk, ly to suffer any inceevenienee (run
tin.advance,i concurred in opinion wiles the Treasurer of the
Nary, that it was advitable to make it. Inept b-g the Com•
miner to titiderstend, that 1 can only state the general substance
of the transaction to the ben of my recollection, not being able
to recall all particulats at this distance of time.
To whom were the pecuniary embarraveineetsef the house of
Boyd and Itlnfield made myself and fend Melville.
At the tame time'—Whether separately or jointly 1 cannot
undertake to say, hut I rather believe both wars.
With whom did the proposition for the relief of the hoots.
of Boyd awl Bonfield, by means which were afterwards resnited
to, originate ?-4 ens confiderst the suggestion re sue moms
mutt have originated with the Treasurer of the Navy.
Did the Treasurer of the bi ivy stele in what manner he
meant to obtan the. money !—I do net recollect that Ise did ;
but I understood generally, that it was room" which could in his
opinims be spored fur a time without inconvenience, presided
there wee sutficient security fur its repayment.
Ile you knew in pont of fact how it was obtainolT-1 do
11.. t. horn me "wit knowl:fige.
1),,I you etiqeire into the nitwe of the 'crudites diet were
taken, ix their amount was satofied at the tints that the
te-orittee offered were inch as might baedeeended upon, end I
titian I tritel.frit.md them to consort either ot Navy Bills, or of
loth which lied been accepted by the East India Company,
which were to fall due at successive periods; but 1 do not re-
collect having myself semi the seeurities.
DO you concurs the tmusactuiti to be irregulu and illegal ?
crtainly considered it as irregular; 1 do not know it ue-
eurred to tie et the time it was positively illegal ; but 1 have no
ihriculty in saving, that I was so strongly impressed with the
belief of its importance and urgent necessity, with a view to
essential public interests, that 1 shmeld have thought it me
duty to incur the risk of committing an irregular and illegal
act, rather than expose the public to the mischief which
thought would otherwise infallibly have arisen.
Dot you make any memorandum in swrirtog of the transac-
tion or sot part of it I did not.
ad you lake any steps towards obtaining an indemnity of
such an irregularity, committed with your knowledge and con-
currenee!—Ne, !did not: and 1 conceive that it was impossible
for me to have dune so, without disclosing circumstances which
most have beeu highly luiurious to the mercantile house it con-
cerned, arri might have in a great measure tended to counter-
act the object: of the public service which I had in view.
When such delicazy as to the disclosure of the transaction
had ceased, dud you take any twit steps?—! have never hitherto
taken one inch Steps; the delicacy attending such disclosure
could never, I conceive, be censedired as having ceased, till
after the hose in question became bankrupt.
When did that happen ?—I really do nut recollect, but it
was 3 considerable time, I believe three or (our years, after the
temsaceion; and I confess the necestity or applying fee indem-
lin 161 not then prepen Mita' to my mind.
Were any of the other public servants acquainted with the
traltaction ?—I believe no others, with the eiteeptian of Mr.
Leog, tee one of the Secretaries of the Treasury, throaels
il,•l\ the motley was to ,elvanced.
Da you Lama any thug about the reesyment of the money,
or the petiole at which it was repaid ?-11 on:y know it as 1
learned it (tom M,. Lung. and 1 cannot sate precisely peril-
cuter put:ads; but I uuleateed getinally a large proportion of
at to ice within a short time.
Di, you know whether it hat all been repaid ?ea have no
douse. but it I.as.
1) . yeti know of the eeistence elf any document any where,
at the time u ranee. we sow, by whit. the Publ..: ctia:d ha:c
mow et the kuowledge of this transaction do not know
of
any moniora.wham or floeulatelit made at the time, or since ;
but I conceive, that if the monies had not been puuctaa:ly re-
, rail. the seestrithe depisited must have led to ascertain to
shoo the advances were made.
Tee Maley beiii: paid, and the s-euritiee of Muriel feturnad,
was there, or is there any other source of such information !
Noe e, that I know of, but the evidence of the partiee curiestued.
suppueing the death et such parties, was there, or l 4
there, any such evidence at all i—None, that I know se, mote
tee tepayment of the sums. •
Do you know ot any other advances of money issued for
navy service: to pa-poses not naval, at ar.y tiine, or of any de-
s:6,3lmi b—so„ I do not know of any such advances.
TA: furt';er Examination of the Right Donountble Wiliias
Pitt; Liken the 7th ot May 180).
Was any interest pied by Meets. Boyd teem the loan of
40,00G1. I-1 do not know that there was.
Why was it not pail ?—No d.inen.l was mule.
Du you recollect any ether Invoice ml pab.ic money ad-
vanced to commercial 1•00•4.1114 in winch interon sea. i.ot de-
mander; ?—I il• not recollect soy tinnier installer of such as
advance.
Do you recollect any ether instance where *rattiest has not
beer. paid
Fur what rz:.4ort was the d of interest omitted can
assign no specific reason ; it did lot ...car to me to be necessary.
What *tithe amount of meerey hemmed eat the year :711e ?
cannot take upon myself tae say at this mural:fit.
Do you recollect how molly loan, wets marls in that -year ?—•
1 cannot now state it wilco any security, but there was ems
mole in Deeeintee, 1705.
Was Mr. Boyd emitrattor for all 4r any of the loans made in
1795.?-1 arn sure he was contratter for the lean male ateut
December, 179); Ide not rye:Alan any preceding loan.
Was tne lean of December 179) a duce loth, or a lean by,
public bid ling ?—There seas one of the LUAUS with Mr. !kyle
dose loan, but cannot tete lest which.
Do you recollect that Mr. B iyd laidclaim to the loan In De-
ectutaor, 17e), in eensequence of any prooloto transectheas
'1 you and him, or et soy :maerstauding that lied tekeu
tette between you cote it take maim myself to state these
cirmaindawes noir with accuracy 11;roll recollection; and I b.rg
to refer to the exataititUacnis that ward taken 'lieu the treaties:-
4mi wit recent.
Wes ts tt s loan of 7000,0011. or thereabouts, contracted
for in iw ...omit the month of April. 1795 believe these
W 6%.
Mr. Boyd Contractor fen that loan ?..--qe was.
Wad List achi .. or open loan ?.-al do not now recollect.
De yeti recollect about what tame the housed Boyd stated
to you their dulicu 11 s fog the tie .t tame?-1 do not.
Can you recollect whether it was ptelflt.U4 to the loan of the
tering 17%!--1 believe tint.
Ds you recollect a nneee given by the Bank in laecernber,
1793, of their intention to narrow their discounts recollect
such a notice being given, but I camuat now state at what me-

-
cue period.
Was that notice acted upon'-1 understand it was.
Do you recollect a general complaint, that Cie acting upon
that notice had tended to airman the ennui raitinent prevail-
ing in the c.immercial world at that tone t-1 recullsA mach
complaint of that nature.
Did Mr. Boyd make any particular and speciic com?laintto
you of his own embarrassments, in consequence of the con.
duct of the Bank !—I believe he complain-AI of as effects.
Had you auy ~outinurilcatititt with the Governor and Com-
pany of the Bank ou this sub;ect tlitir conduct ?—1 mink
I had conversation on the subject of their conduct in narrowing
their discounts at different tunes.
you recol:ect the date es the firit N.w•lda not.
Can you gin the Coruinittee any information as to the pro-
bible date of su.:h communication really cannot, as lda
nut at present recollect when the measure was adopted.
Cur uu recollect the teillOtli assigned by the Governor and
Co.ipanv of the Batas of Englaud for their coadu4l in so nar-
rowing their discounts aa-A, well as I recasts, but I cannot at
this ili:tance time iyeak with er taint., the reasons ass ri.rd
were the decrease of their posszasion, and a dfs.ta
to eheck speculation, to whicti the.' th git thaws a4culants we: e

Dii any rt't ar c•tv:rtaliavi tab pia!, cn th-r ^..b;-et of
the house titoyd and Catupany, in your no.stina:-..wa tx,
with the B tnk, or •.w that Anwar naen:iunxt in any co,itrenta-
Con; :h3t ptscd at tint le-riot ?-tolrath.tr think, that house
hat: bran mentioned nt *taint onatznotatans butt caniaelt AO

recollect with any inn.
D., you r-eolle.t the graft of any sada ceaesb nG atio retard.%
to that ho?•-No?•-No,, nor.
Did the hoese of Bo; d or seer stale to gall that
the Bank weer nod ill then diszonoto id Vial boos as
to others ?--1 think they %dd.
Did you eatiire into the rewire of the particular conduct of
the Bank inward. tisit 11.Ilate do uot reo,lloo that I did.
Do vita recoiled any general year fOrY ha.o rO.
reived frnro any quarter of 11104ra...rt. for that part.c.alar Con-
dom %-1 d., not.
When was eon find informed of the *linger in whi.:b that
boom found itsiif mono' Say ;in toe course ui toe year
1796, I believe
Was that danger ascribed be them In the narticelar contact
of the Bank towards thou ?—To the best of my 'cc
Wag.
Do you believe the conduct of the Rank towards them at
that time to have bean an exception to inch then gsiteral con-
duct?—! do not kit As, that it was, but I have nut sufficient
knowledge of the particulars to form a judgment on thin aohject.
Was it so stated to be by Boyd and Cons;aany ?—1 rather
think that they repriteented AU opinions that lint coudect or the
Bank was adenine! with views uufevowitile to them.
Have you any reason to believe such re,inuereis i o .s were
well founded hire had nil incans of forming a ;-.lgule.t
usin that suhiect.
Do you beiime the Batik to have been wider difficulties
about that period believe the difficulties of the ft isle.
which led to the anspensiou of their payments in cash in the
February following, were iummeileiag its that ) ear , m pierha2s
the preceding
flare you any reason to lychees those difficult:es to have In•
termltted, or have been impended aboot the pernid a these-
vance Messrs. Boyd, of 40,0%:1"—I do net at present reed-
lezt any reaesn fur with belief.
Did you know that the 4*,0001. so advance,: woulil be
drawn from the Bank?-1! tad nos knaeledge sf the particular
mode by which theteum would be furnished.
Did you believe it would come out of the public money ada
wanted for navy services?—t.lid.
Ought not such money, acennre4 to law, to remain in the
Bank till assigned to, or drawn for pariculir nevy services?...
Yes, I conceive so.
Were you atthe time aerate of each legit provisions?-1
certainly must have known the existence of ti‘e Act; hut
Its particular provision was net at that time owlet any eon.
temptation.
Did the Governor or Deputy Governor of the Mink of Eng-
land, in the information which they pee to you of one of the
seisons which ir.ilitezd them to narrow thairetiscOldt 1, namely,
for tlm purpose of checking specuiatton, alhul• at all, or in
any way to the haus, of itoyell—l cannot taste upou myself is
say 6 titer way.
Did the Governor or Depot? Governor of the Bank a' Eng-
land, in the inf....mato.. they gave !ova the reason. 1,4 the:,
conduct in narrowina their di•conota, state the necessity for
their so doing, in ceostg ..e.ce of the I age ad,anc.a under
which they were to Government. and which had nut been re-
placed accord.ng to agreement,--I think they wade repreeer-
rations to that etfe-9 ; het for the particulars I wound larg again
to refer to examinatisns a h:ch ace .a.en before the Commits
• tee soon after that periel.
Had you sr../ nonet trinsactions on ti part of Ph, puhlie
with the house cf doid. .iiiasvouent to the Loan of the sp:,g
17% tnink there was an :ssue of naoriey to thion for poly-
lie service, which ap,:eaiud in the eart_art.r.ary of Co :17.4 in
1747.
To what amount'—it will appear by the Extraordinaries
think about tonouoi and, as well at I recoltt,a, it was :or the
remittance of silver from India to the Cape.
Did Coley apply to y-ou, or were they comperOori for any
Lean to tin Loan for the spring; 1796!..1 do not
re tolled.
Was any information give's to yet', or hal you any rrawad
to baiieve the hose of FSoyd and t:Ovrltriay were erred in
suer-orations to any 'mown beside their engagements for the
LOaheliegotiaterl with them '-1 tmdersteort theta to be en-
gaged in veto ostensive pocutiiaiy or mercantile transactions as
Stinkers and Remitters, but I bad no l.n :Arledge of the per.

cry information giventt yOtt. Cr Wei flogs: eat, 4
the probability of toe event which actrat'y took "lace, namely.
the fsilure athe hour! f and Cilltaalli ?-1. heard sur-
mises to that etttrt, but I cannot say at what
Can you say that it was net at adtaaNtrr peito.l than the or•
at which the 40,0091. was adrandlil7-1 do not thirst that it
was
Pb you know any thins or the causes which led to that
thhitee?—Nothtoit 4y.
Hate you beard oh ,t :has: canes were!--I cannot pretend
to recolhct them now with Ince Woo ; the narrow.rig the
tia-
countu of the Bank, and their refusal m 1174 i to mar 1•.1
CilsliOlneCli advances on the ban, well, Stated as eir,:,riestuncts
'toy prejudicial to them ; hot haw lac theta waft tho tastes '
th..ir•ultituate failure, I canmt
rid goalvex liter there tre,.: spatco!atort in the public
funds at the period of th.! oego,iations at Lisle have heard
such tenor, but know nutlithe of the sullict.
What was the mein: of ti.c injury theeoblit was Megy to
sustain from a full disclo...ire of all thwencemstances relating
vs the advance made to M....r0e 8.r,t1 Ltd Benfield, a. soon
they had made goal a!1 thajostahnents of the loan meant
iii that part of my anew-r, ii amity par.:ctilady to the, pertod
while the inualments of Me loans ,:ere not made ; the
injury aettrintni, to the phb!fc trou'el have bee, that of dhe
failure of any great mereanrile house; bpt in that latter period,
the prioci; al mason I assign d fur avo:ding diselostre was, tee
injuriotht infect it would have upon the patties theme Dyes.
Do you conceive the 40,0001. advanced to. Mr. hoyd, if it
had not been so advanced, would have been productive of any
intermit to the public ?-1, con •co rye certainly not.
Will you state generally to the Committee, what sou recol-
lect to have been the state of the money market in the course
of the year 17911, and the A-ginning of the year I:tri hastl con-
e.eive it to have been a period of the gie.t of embarraminer.t,
both of public and private credit, and it led to the scrim.
mance of the .toppageof the payment of case Ly the 3srk
the spring 1797.
From the then state of the money minket, in cats Mr Gard
had failed in roakir.g goad his intyinelit.., and the cor..r.ert, for
the two loans then in pr.treas of nay Incet h 'seen I :solved,
do you conceive a new loan could have be,to ',nom .id f-,-
public on terms equally advate ~e7tl.:lly et.'
vitteed that it would not, and rho' :he emhat:a-s:nent that it
would hate eceasimA to the pn'Aie se•vice would have t- 'cm
of the most wrious arid alarming na:ure.
le the then state of the market, wool(' it have b"...b Inter to
have trade a lea in lieu thereof ?—tio, it emit.• h ere beam
extremely difficult. and 1 beim,e hopcmible, mile•s u?oti tt
unfirourable tams.
Tu what extent do you concive the failure of Mrs •
loan would have effected the general wrath of the county
To a very glen and Serious elaCtit..
Would the effect Late been total as tie teen: 'r the fifi'llm.nt
of any future contral to be made with other I..‘riiee, in a c
Itt-
vrderable degree, j•rreariohs and tILICT:List!--That
of opinion of which I cans d trek petittirhy,l J 1 I 1...% 6.••et-
would have been great ti.anger of such so
efft't -
Have you any loiowlerlge of a certain sum cf puhhe roc^ .y.
amounting to 10,00111. helm, in the heads of Lor l -'.lJt.".e
to
the beginning of the year have not
The further Examinnicrn of the il:ght Hon. Wt.liani Pitt;
laivni the silt at May, IS-I
Were any representations at any leo,. Aston. to eau by Loy
Male, of the circtimstance of money ia.l.le,k t.i the 113. A for Nary
Services, being diaou from thcoev,and el is tie hat da
of
a Wit/de Ranker of Batter .•e, a geotril t•'fulerti-a,
that Mr Itokoff, one of the Rao: Oireelfra, a d 1 urn. ve r•-• -
Govern,ir or Deputy Coretioiri.; the tint-, hail, -0,,•
to mention to nw, that Ire b,,;i-ved sum- stare in •
Bank to a larger atnouitt tt an he sup;.thed to b. attar, es Ty,
and carriid to a private Ba,iket's, but nhlini,aorainlam or
cement of any s..rt was grim to me ; anti .t !ha d.ft.ner u:
Salta*, 1 L. 411 only state the s instance .1 what 1.4.3,3 very
generally, and cannot molt:claire with ally prec.mon to recoiled
the paitict.larr.
Had you arty communication w•th the Treasorrr if ti,' bevy
in co•ileciotnce of what Mr Rules had tad yen ha 4 ;
I took sit early uppunnnity of metal to litUt 'ha 0011. oft f, unit
Mr. Ratiteshad stated to me.
Wu-t fts.the.l.swed on the suke.t ?-ICatelet

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