iately pressed upon the investigation of parliament, by the
speech of the lords commissioners at the opening of the session. In the
preceding session a select committee had been appointed to consider the
state of the law in reference to this subject. This committee began its
inquiries in the month of May, and continued them till the close of the
session. In their report to the house, they stated that they saw so many
difficulties in the way of immediate legislation, and so many objections
to imperfect legislation, that they would content themselves with merely
recommending that the committee should be revived in the following
session. On the 6th of February the chancellor of the exchequer made
a motion to that effect, on which occasion he observed that he did not
mean in any way to anticipate the decision of the committee; but he
should be greatly misconceived, if it were supposed that his motion was
made in hostility to the general principle of joint-stock banks. It had
been suggested, he said, that the range of inquiry should be extended;
but he considered the subjects already before them were sufficiently
complicated and difficult, without the committee embarrassing themselves
with other and still more delicate matters of investigation. He should,
however, propose the extension of the committee's inquiries to Ireland;
and with that view would move the addition to its number of four Irish
members, two from each side of the house. Mr. Hume expressed himself
satisfied that the source of the difficulty lay, not in the conduct of
the joint-stock banks, but in that of the Bank of England; and he was
therefore anxious that the inquiries of the committee should be extended
to the proceedings of that establishment, and generally to the banking
system of the country. The conduct of the Bank of England, he contended,
should form a principal object of investigation; and he moved as an
amendment, "that there be an inquiry into the state of banking, and
the causes for the changes of the circulation since the year 1833." Mr.
Williams seconded the amendment, and urged that the Bank of England had
displayed a more reckless disregard of the interests of the country than
had ever been shown by any public body intrusted with the management of
its financial resources. On the 28th of December, 1833, the issues of
the Bank were L32,600,000, and their stock L10,000,000. On the 28th of
March, 1835, a reduction appeared on those issues of no les