HC Deb 03 June 1808 vol 11 cc810-1
Mr. Huskisson

having given notice of a motion for leave to bring in a bill to regulate and restrain the issue of Promissory Notes reissuable, stated, that on consideration ha was disposed to coincide generally in the representations of those who were of opinion that this credit, as well as every other, ought to be left as free as possible. But much mischief and confusion arose from, the frequent issues of very small notes to the amount of 15 or 20 shillings, the abuse of which was very general. To obviate this evil, he moved for leave to bring in a bill to prevent the issue of promissory notes under the amount of 20s.

Mr. Thompson

represented the propriety of guarding against the issue of checks by one partner of a banking house on his fellow partners for ten or fifteen shillings.

Mr. Huskisson

was aware of the variety of shapes in which the abuse existed, and: had taken proper advice previous to the framing of this bill, as to the best means of discovering every species of abuse.

Sir J. Newport

represented the variety and extent of frauds formerly practised by the issuers of notes under 1l. in Ireland; and was therefore desirous that a remedy by proper restriction should be applied in this country as soon as possible.

Mr. Parnell

said the circulation of these small notes was owing to the deficiency of silver coin, and wished ministers to apply the only effectual remedy, which was a new silver coinage.—Leave was given to bring in the bill.