"The very depressed state of the public credit of the country, is now so universally known, and felt, that it cannot suffer any additional injury by our stating the fact, and the means which are about to be carried into effect, as an experiment of relief. We daily hear of new stoppages among persons, many of whom have ever been considered as men of large real property: on a very minute, and fair, enquiry into the truth of this supposition, we have the best reason to believe that the fact is so; and that a very large proportion of mercantile houses, which have been, lately, obliged to suspend their payments, is still solvent, and well able to pay every demand, in the course of time. At Manchester, Liverpool, and other large trading towns, particularly at the former, this fact is well authenticated; but the failures at the country banks have stopped the circulation of money so suddenly, that present engagements have not been able to be fulfilled. To adopt a remedy, if possible, at this very alarming state of public credit, a meeting was held at Mr. Pitt's house, in Downing Street, on Monday last, to consult on the business. The grievance being explained to Mr. Pitt, he assured the Gentlemen of his anxiety, and readiness to give every assistance, in his power, to the mercantile interest, and he requested they would consult among themselves, and form some specific proposition, for his consideration. A meeting was accordingly held, yesterday morning, at the Mansion-house, to consider of the plan which should be proposed to Mr. Pitt. The number of gentlemen was reduced to 11, as being more convenient: and, at nine o'clock last night, they waited on the Minister, to obtain his approbation. "We do not take upon us to state, OFFICIALLY, the nature of the plan which has been proposed, but we are led to believe that the outlines of it are as follows: 'That four millions of Exchequer Bills should be issued for the support of public credit, as a loan to the mercantile interest; that the security required, should be on goods actually warehoused, and the advance to be made on two-thirds of their value. Commissioners to be appointed to superintend the securities, and the value of the merchandise. The Exchequer Bills to be called in as they become redeemed. The borrowers to be answerable for any loss in the discount of them.' The plan was left for Mr. Pitt's consideration, who is to give his answer this morning. Should he approve of it, it is probable he will propose some resolution upon it, this day, in the House of Commons, to the end that the relief may be as speedy as possible."--(_Times, April 24, 1793._) * * * * *