Finance was the all-absorbing question in that gloomy winter of 1796-7. The triumphs of Bonaparte in Italy and Hoche's attempt to invade Ireland sank into insignificance in comparison with the oncoming shadow of bankruptcy. The causes of this phenomenon are too technical to receive adequate treatment here. Certainly the Bank Crisis of February of 1797 was not due to the exhaustion of the nation; for the revenue testified to its abounding vitality. The Permanent Taxes maintained nearly the high level reached in the prosperous year of peace, 1792, and the figures for British Imports and Exports told the same tale, but the sums of money borrowed in the years 1796, 1797 undoubtedly strained the national credit.[444] Austria also applied to England for loans to enable her to continue the war; and Pitt helped her to borrow in London the sum of L4,600,000 in 1795, and L4,620,000 in 1796. In one particular Pitt's action was unprecedented. In July 1796, during the interval between the seventeenth and eighteenth Parliaments of Great Britain, Austria sent urgent requests for pecuniary help so as to stay the triumphs of the French in Italy and Swabia. Pitt yielded and secretly remitted the sum of L1,200,000 as a loan. Undoubtedly this opportune help enabled Austria to make the surprising efforts which flung back the French to the Rhine, and checked the triumphal progress of Bonaparte. Nevertheless, Fox threatened his rival with impeachment for this unconstitutional action. Pitt replied with irresistible cogency that the crisis called for bold handling, and that England helped her ally to save the Empire and to maintain the contest in Italy. The House condoned his action by 285 votes to 81, a proof that he dominated the new Parliament as completely as its predecessor. He has been accused of lavishing money on the Allies; but, except in this instance, he did not by any means satisfy their claims. Moreover, they were justified in expecting England to provide money in lieu of the troops which her War Office failed to raise. Austria also solemnly covenanted to repay the loans; and her neglect to do so occasioned a bitter dispute which long held the two Powers apart. Pitt also refused her request for a loan in the year 1797. As far as possible, he discouraged the raising of war loans in London. Early in 1796 he did so in the case of Portugal from a fear that the export of bullion would impair credit.[445]