HC Deb 15 May 1811 vol 20 cc175-6

"That the average amount of Banknotes in circulation during the months of January and February 1795, was 12,452,451l. and the average amount from the 1st of January to 25th of February 1797, was 9,566,430l.; making a difference of 2,886,021l>.

"That this reduction in the amount of Banknotes was principally effected between the middle of the month of May 1796, and the 25th of February 1797.

"That the exchange with Hamburgh fell from 36 to 32. 4 (its lowest depression during the period in question) between the 3d of February and the 4th of August 1795, during which time the average amount of Bank-notes in circulation was 11,464,143l; having been occasionally during the time as high as 14,071,850l. and even 14,876,580l.

"That between the 4th of August 1795, and the 1st of January 1796, the exchange with Hamburgh rose from 32. 4 to 32.7 during which period the average amount of Bank-notes in circulation was 11,415,653l.; and, from the 1st of January to the 3d of June 1796, the exchange with Hamburgh rose from 32. 7 to 34, during which period the average amount of notes was 10,874,316l.

"That from the 3d of June 1796 to the 25th of February 1797, during which period the amount of Bank-notes was gradually reduced to the sum of 8,640, 250l. the exchange with Hamburgh rose to 35; and in the few months following the last reduction, rose gradually to 38.