We need hardly state our reasons for declining to criticise that work. We agree entirely with the views entertained by that eminent writer; and we should be happy indeed, could we state our own arguments with a force and a precision at all commensurate with his. Sir Robert Peel, however, in the course of the year 1845, thought proper to make this pamphlet the subject of his remarks, and concluded, _more suo_, with a sneer at Mr Alison, which, apart from its propriety, does not strike us as particularly clever. The point at issue was rather a trivial one; for Sir Robert, as usual, did not apply himself to the main body of the argument: he neither impeached the facts nor the conclusions of Mr Alison, but fastened upon an incidental point of no great value or importance. The attack, however, had this good effect, that it elicited a reply from Mr Alison, in which he points out so distinctly the results of the restrictive measure, that we cannot do better than transfer an extract from his Postscript to our pages. It is proper to observe, that this Postscript was published _two years ago_, and we leave the public to judge of the accuracy of M. Alison’s observations:-- “Whoever,” says he, referring to the Banking Act of the preceding year--"whoever considers these provisions with attention, will see that they practically introduce two things: 1st, A limitation of the issue of Bank of England notes to £14,000,000 on securities, with the addition of the specie and bullion transferred to the issue department:--2d, A limitation of any further issue to the amount of such securities, bullion and specie. It is the avowed object of the Act to base the circulation of the bank on these three things. And the opinion of its supporters has been repeatedly expressed that they constitute the only safe foundation of banking operations. If, therefore, the specie is drawn out by the holders of notes who are declared entitled by the Act to have their notes paid at £3, 17s. 10½d. an ounce of gold, it follows, of course, that the notes in circulation must be diminished in the same proportion. They cannot issue notes beyond the £14,000,000, _except in exchange for specie or bullion_--the most effectual of all ways for limiting the issue to their amount.