§ Mr. Sargentbrought up the Report of the Bank of England Restriction Bill. On reading the amendment, which makes the duration of the Bill six months after the conclusion of peace,
§ Sir William Elfordcalled the attention of the House to an important alteration in this bill from that of the last year, which took place in a very thin committee on Saturday last. It was in filling up the blank for the duration of the bill, by the insertion of the words "six months" after the ratification of the Treaty of Peace, instead of "six weeks," which was the time expressed in the last bill. He did not mean to oppose the alteration, but felt it his duty to call the attention of the House, as it had been made in so very thin a committee.
The Chancellor of the Exchequeradmitted, that the alteration alluded to by the hon. I member, was certainly important; but he trusted the House would agree with him that it was also necessary. It had been thought inconvenient to make the bill continue only for six weeks alter peace, because, if that should happen in the recess, and it should be found inconvenient to allow the Bank to I pay off in each so soon afterwards, Parliament must assemble for that very purpose; whereas, if Parliament should be sitting, and six months should appear too long, the time might be shortened for there was power to vary or repeal the bill at any time, contained in the bill itself.—After a few Words from Mr. Vansittart and Mr. Swann, the amendment was agreed to. The bill was ordered to be ingrossed, and read a third time to-morrow, if then engrossed.