The house formed
itself into a committee, to take the state of the kingdom into
consideration. They resolved, that whoever advised the king to refuse
the royal assent to that bill, was an enemy to their majesties and the
kingdom. They likewise presented an address, expressing their concern
that he had not given his consent to the bill; and beseeching his
majesty to hearken for the future to the advice of his parliament,
rather than to the counsels of particular persons, who might have
private interests of their own, separate from those of his majesty
and his people. The king thanked them for their zeal, professed a warm
regard for their constitution, and assured them he would look upon
all parties as enemies who should endeavour to lessen the confidence
subsisting between the sovereign and the people. The members in the
opposition were not at all satisfied with this general reply. A day
being appointed to take it into consideration, a warm debate was
maintained with equal eloquence and acrimony. At length the question
being put that an address should be made for a more explicit answer, it
passed in the negative by a great majority.

ESTABLISHMENT OF THE BANK OF ENGLAND.

The city of London petitioned that a parliamentary provision should be
made for the orphans, whose fortunes they had scandalously squandered
away. Such an application had been made in the preceding session, and
rejected with disdain, as an imposition on the public; but now those
scruples were removed, and the house passed a bill for this purpose,
consisting of many clauses, extending to different charges on the city
lands, aqueducts, and personal estates; imposing duties on binding
apprentices, constituting freemen, as also upon wines and coals imported
into London. On the twenty-third day of March these bills received
the royal assent; and the king took that opportunity of recommending
despatch, as the season of the year was far advanced, and the enemy
diligently employed in making preparations for an early campaign. The
scheme of a national bank, like those of Amsterdam and Genoa, had been
recommended to the ministry as an excellent institution, as well for
the credit and security of the government, as the increase of trade and
circulation. One project was invented by Dr. Hugh Chamberlain, proposing
the circulation of tickets on land security; but William Paterson was
author of that which was carried into execution, by the interest of
Michael