§ "That, taking the issues of Bank-notes in circulation, not at their amount on a particular day, but on a fair average antecedent to any alteration of the exchanges and price of bullion, it does not appear, from the information which has been procured, that the price of gold has been highest, and the exchanges most unfavourable, when the issues of Banknotes had been considerably diminished, and have been restored to their ordinary rates subsequently to those issues being increased.
§ "That, since the said restriction, the price of bullion has been highest, and the exchanges have been most unfavourable, at times subse- 174 quent to the periods in which the issues of Bank-notes have most increased.