Passing over several other topics, let me, Gentlemen, now come to what, at the present moment, most nearly affects you; namely, the _prospect as to prices_. In the first place, this depends upon whether Peel's Bill will be repealed. As this depends a good deal upon the Ministers, and as I am convinced, that they know no more what to do in the present emergency than the little boys and girls that are running up and down the street before this house, it is impossible for me, or for any one, to say what will be done in this respect. But my opinion is decided, that the Bill will _not_ be repealed. The Ministers see, that, if they were _now_ to go back to the paper, it would not be the paper of 1819; but a paper never to be redeemed by gold; that it would be _assignats_ to all intents and purposes. That must of necessity cause the complete overthrow of the Government in a very short time. If, therefore, the Ministers see the thing in this light, it is impossible, that they should think of a repeal of Peel's Bill. There appeared, last winter, a strong disposition to repeal the Bill; and I verily believe, that a repeal in effect, though not in name, was actually in contemplation. A Bill was brought in, which was described beforehand as intended to prolong the issue of small notes, and also to prolong the time for making Bank of England notes a legal tender. This would have been a repealing of Peel's Bill in great part. The Bill, when brought in, and when passed, as it finally was, contained no clause relative to legal tender; and without that clause it was perfectly nugatory. Let me explain to you, Gentlemen, what this Bill really is. In the seventeenth year of the late King's reign, an act was passed for a time limited, to prevent the issue of notes payable to bearer on demand, for any sums less than five pounds. In the twenty-seventh year of the late King's reign, this Act was made _perpetual_; and the preamble of the Act sets forth, that it is made perpetual, because the _preventing of small notes being made has been proved to be for the good of the nation_. Nevertheless, in just ten years afterwards; that is to say, in the year one thousand seven hundred and ninety-seven, when the Bank stopped payment, this salutary Act was _suspended_; indeed, it was absolutely necessary, for there was no gold to pay with. It continued suspended until 1819, when Mr. Peel's Bill was passed, when a Bill was passed to suspend it still further, until the year 1825. You will observe, then, that, last winter there were yet three years to come, during which the banks might make small notes if they would. Yet this new Bill was passed last winter to authorize them to make small notes until the year 1833. The measure was wholly uncalled for. It appeared to be altogether unnecessary; but, as I have just said, the intention was to introduce into this Bill a clause to continue the _legal tender_ until 1833; and