The Regency Bill contained grave restrictions to the power of the Prince of Wales. The queen had charge of the person of the king, and the prince had no authority to dispose of the royal property. He was not permitted to grant the reversion of any office, nor any pension or place without the consent of his majesty. The prince was passionately irritated, and responded to the communication of the minister, by a letter, that Burke had dictated, as firm and clever as it was eloquent. Mr. Pitt remained firm. The public were aware of the animosity that existed between the minister, still powerful, the foolish king, and that parliamentary and princely opposition which appeared upon the point of seizing the power. The friends of Pitt, realizing the sad condition of his financial affairs, preoccupied themselves to relieve the same. A meeting of bankers and merchants offered to Mr. Pitt a gift of £100,000, raised by subscription, in the city London, within twenty-four hours. He refused, without hesitation. The situation was prolonged. The minister sought occasion for delay; for each day the king's health improved. The five propositions of the Regency Bill had been voted by the House of Commons, and the third reading was announced in the House of Lords. Dr. Willis informed Mr. Pitt and the chancellor that the convalescence of the king might be announced. {355} On the 17th of February 1789, the minister wrote to his mother: "You have seen that for several days the news from Kew improves; the public bulletin this morning says the king continues to improve in his convalescence. The particular news is that according to all appearances he looks perfectly well, and that if he continues to act sanely, they will at once declare him cured. It remains for us to wait and see how he will support the state in which he will find public affairs. But considering these circumstances, the Bill will probably be adjourned, in the House of Commons, until Monday; and if our hopes are then realized, the project of the regency will probably be modified so as to apply to an extremely short interval, or perhaps be entirely set aside. This news will afford you sufficient pleasure to pardon the brevity of my letter." Four days later, the king renewed with Mr. Pitt that correspondence, somewhat formal, but nevertheless, cordial and kindly, which reflects so much honor on both the sovereign and the minister. On the 23rd of February, 1789, George III. wrote to Mr. Pitt: