The Sun.
London, England, 1803-12-01 00:00:00

BANK RESTRICTION.

The CFIANCELLOR of the EXCHEQUER
rose, pursuant to his notice, to move the continuance
of the RestriCtion on the Cash Paymeuts of the
liank, flaying moved that the A,Ct of last Session
be read pro
.farm a, .he fnuceeded to observe, that
he believed very little doubt had been entertained
of-the.oroptiely4of continuing the Restridion when
it was prop isechlttring_the Peace under the peculiar
circumosinces of the .times, -but he had never yet
heard tof any doubt Whatever expressed of the ex-
pediency it during a period of war.
liod:r that impression, which he had every reason
to believer w,is a just one', he, was ;'not disposed
to think tibit any opposition would be made to
his motion, It had been seen that during the period
of the suspension,
.Ithe ctedi't of the: Bank had re-
mained firm and, outwit:lied, and that it, possessed
:Hoyle means to:make good its engageinenti: With
regard to the 'prt:tdsfice of the
.cOndua of the Bank
vo doubt had been expressed, and he believed none
wati'eotertained, They had nut in: 4ny eostance
4v4itt,d thelmetves of the restriction to.,augment
their ,own profits by an extraordinary issue of paper,
for it most clearly appeared dna the quantity•af
pooi.!r ,which they ha& ift:iucti during the, period al..
lotted to 'was niimor-than was consistentrwith their
carlital• • It was, howeveGiropott ant that the I loUse
t -
,should,frontime,ro titne_be infortued .tric the (ran,
tity ofpaperisstied', irntltile.refore,ftheffousetlicoght
proper' to agree to his pFeient*.mUtion, he should
submit' another to that "effeet. He then moved for
• leave to firing in a Bill to' continue • for a limited
tiiiic the Act for restraining the Cash spayMents' at
the Bank ,; •,•-elseave watt, gi yen. •
Mr.
„7EKYLI. said, he did not mean to contro.
any of the arguments advanced by the Right
fl ai. C;:!ntleman, but he wished to advert to a cis.
CUMSti,InCe which appeared to him intimately con-
netted with this subject. The circumstance to
which be alluded was a 11110 St serious evil, and one
that he knew was most generally felt, He meant
the want of circulating specie. This want of ape-
c:c pout Si most absurd disposition to hoard
,;; Now, money, by which illeittla specie was
withdrawn from general circulation. This evil
was not only felt by the more opulent tradestnen,
but ftose in a lower line, and indeed by all classes
of the community.' lie had heard some persons
who were in the banking line declare, that if this
int, of faith in the Public continued, if this ab,
surd nod impolitic i!reindice prevailed, it would be
imp.)ssible in a silort time for Bdikers. to pay the
fracctior,al part" of drafts. Ile saw by die Papers
of this day; ti, a reqieetable Corporation had re-
solved to takti., dollars, ;nal French crowns and half
crowe,: whether this would teutr" to 'remedy the
evil he did n,,t know, but he could not help ad..
vcriing to this vircmnstance and expressing his "rem
wei! this absurd want of .ptiblic faith.
7'l~~ of the EXCIMQ VER
said,' that the incooveinen`ce which the Hon. Gene
1,,0 described, certaioly did exist, anti had
soot e,eaped the consideration of His Majesty!s.Mi..
nisters. The Hon. Gehtleman was also pettedly
corred in comments, upon the ahoird prtjOdices
which produced this inconvenience: thehesLeorrec-
tive of it would be a wise and patriotic &tett-Irina.
Orin of individuals against a 'pratlice so unWopthy
of the gand sense of the People-„,
The (711 ANC E It of the Excn ago ti)in
niov.ed., that there be laid hafore, die Howse an ,A,„
count of the coantity of Notts of the Bank'tir Erie.
land in circulation in the months of June, August,
04ober, and itilovembi.trt-2'‘greed to!