1744. Charles Edward sails for Scotland, and marches upon Derby. Panic. Run upon the Bank,--is obliged to pay in sixpences, and to block its doors, in order to gain time. 1772. Extensive failures and a monetary panic. The Bank maintains the convertibility of its notes for several years, at an annual expense of £850,000. 1793. War with France,--drain of gold,--Bank contracts,--panic,--failures throughout the country,--universal hoarding,--one hundred country banks stop,--notes as low as five pounds first issued,--general fall of prices. 1796. An Order in Council suspends specie payment by the Bank. 1799. Numerous failures,--chiefly on the Continent. The pressure in England relieved by an issue of Exchequer bills. 1807-9. Great speculations in flax, hemp, silk, wool, etc. 1810. Recoil of speculation,--extensive failures, and great demand for money. 1811. Parliament adopts a resolution declaring a one-pound note and a shilling legal tender for a guinea. 1814-16. Heavy losses and bankruptcies,--failure of two hundred and forty country banks,--the distress and suffering of the people compared to that in France after the bursting of the Mississippi Scheme. 1819. Law passed for the resumption of specie payments in 1823,--after a suspension of twenty-seven years. 1822. Great commercial depression throughout Europe,--agricultural distress,--famine in Ireland. 1824. Speculations in scrips and shares of foreign loans and new companies, to a fabulous amount. 1825. Recoil of the speculations,--run upon the banks,--seventy banks stop,--a drain of gold exhausts the bullion of the Bank. 1826. Depression of trade,--government advances Exchequer bills to the Bank. 1832. A run for gold,--bullion in the Bank again alarmingly reduced. 1834-7. Jackson vs. Biddle in America produces considerable derangements in England,--drain of gold,--great alternate contractions and expansions,--severe mercantile distress. 1844. Renewal of the Bank Charter, limiting its issues,--great speculations in railroad shares, to the amount of £500,000,000. 1845. Recoil of the speculations,--immense sacrifice of property. 1846. Drain of gold,--large importations of corn,--alarm. 1847. Drain of gold continues,--panic and universal mercantile depression,--Bank refuses discounts,--forced sales of all kinds of property,--the Bank Charter suspended. 1857. The experiences of 1847 repeated on a more injurious scale, with another suspension of the Bank Charter Act.