OBSERVATIONS. (Hansard, 2 July 1866)

§ MR. CHILDERS
moved that the House, at its rising, do adjourn to Thursday next.

§ MR. WATKIN
said, that before that Motion was put, he wished to call attention to a subject affecting the trade and commerce of the country, and which ought not to be allowed to pass out of view. For the moment there was no Government, except in this sense—that the Government though a Government de facto, had, he supposed, handed over their powers to their successors; but there was no Government really responsible. Persons engaged in trade and commerce had been anxiously inquiring whether the letter of the Chancellor of the Exchequer to the Bank of England was to remain unmodified, and whether, there being £15,000,000 of bullion in the Bank of England, and £26,000,000 in the Bank of France, the Bank of England were to be allowed to retain the rate of discount at 10 per cent. As the Chancellor of the Exchequer was not present he would appeal to the hon. Gentleman (Mr. Childers) to give some explanation respecting this matter, which was exciting great attention and also a feeling of some indignation. If the Bank of England were to be permitted by that House and the Government to hoist a storm signal at a time of great financial difficulty, it ought not to be allowed to retain that signal flying after the danger had passed. He really thought the matter so urgent and important that he should move that the House do adjourn to to-morrow in order that an explanation might be given by the right hon. Gentleman the Chancellor of the Exchequer.

§ MR. CHILDERS
could only reply to the remarks of the hon. Gentleman by saying that it was distinctly understood that no public business of any kind should be taken to-day. It only met pro formâ for the purpose of advancing certain Private Bills a stage, and therefore it would be quite wrong for him to give any opinion on the question raised by the hon. Gentleman 713 The Chancellor of the Exchequer was absent from the House, not having been aware that any such question would be raised. If, however, the right hon. Gentleman had been present he would, no doubt, have given a similar answer to the hon. Gentleman.