§ "That, prior to the restriction of cash payments, the exchanges were never more unfavourable to Great Britain, for any length of time, than from 5 to 7 per cent. below par, the depression appearing to have never exceeded the whole expence of transmitting specie abroad; except during a debasement of the coins of the realm.
§ "That, prior to the said restriction, the market-price of standard gold in bars never rose above the mint price more than 1½ per cent. and that only for a very short interval; except in 1720, the year of the famous South Sea Scheme, when it rose to 4l. 1s. 6d. per ounce; and during the periods when the coins of the realm have been debased.
§ "That, in periods subsequent to the said restriction, and particularly of late years, the exchanges have been unfavourable to Great Britain much below the limit marked by the whole cost of transmitting specie abroad, and have continued so for a considerable time together, being at present, and having been for a considerable time, more than 25 per cent, below par; and in the same manner the market price of standard gold in bars has been, and still is, more than 25 (20) per cent, above the Mint price.