"The advantage which has resulted is manifest. If we had had to wait till funds were in hand to set to work at Fountain Street, who could have foreseen when, if ever, this moment would arrive. Is it nothing, in the midst of this short life, when it is a question of an object of the first necessity among the wants of the community, to have anticipated by sixteen or seventeen years the enjoyment of this object? Doubtless evil is close to good: the abuse of the best things is always possible. Is this a reason for forbidding the use of what is good and profitable? Is it not better to procure it as soon as possible whilst availing ourselves of the means at our disposal to avoid its abuse? Whilst these means are employed, and so long as the income is sufficient, there is only one possible danger--that of allowing the time for meeting these anticipations to pass without paying them, and thus of seeing the debt increased by the amount of the non-cancelled obligations. This danger is seen to vanish when we consider the precaution taken by the States, the watchfulness of all their Members, the Committee which they have appointed specially for this purpose, when we think of the publicity, of the exact acquaintance from year to year which all the inhabitants have of the liabilities, the receipts and expenditure of the States. All this watchfulness and all this publicity are the strongest safeguard that could be given against any danger in this respect." The Resolution to refer the matter to the King was lost, only five voting for it; and a resolution was carried expressing confidence in the present method. In the following year, 1827, the Guernsey Banking Company, now known as the Old Bank, was founded from the firm of Priaulx, Le Marchant, Rougier & Company. Jean le Marchant was Vice-President of this Bank. It is said that at the States Meeting on 15th November, when objections were raised lest the States' Notes should suffer, the Bailiff seemed to foresee no danger. "Good Bills are better than bad coin." Notwithstanding the decision of the States in 1826, the three Jurats, Josias le Marchant, James Carey and Jean le Marchant were still uneasy, and on 10th April, 1829, complained direct to Whitehall that "the States had exceeded their annual revenues for works of public utility without the express sanction of the superior authority, and had for these same works contracted liabilities which exceeded the means of the States." The Privy Council on the 19th June forwarded the complaint to the States and asked for an explanation. The States, at their meeting, 27th August, 1829, instructed a Committee to examine the charges, draw up a report and answer, and submit the same to the States. The Committee selected was the Finance Committee, which was revised at this time, the chief change being the omission of the two complainants, James Carey and Jean le Marchant.