Note 1 — 1826.

[Mr. Baring (Lord Ashburton) stated in his pamphlet on this crisis, ‘The gold of the Bank was drained to within a very few thousand pounds, for although the public returns showed a result rather less scandalous, a certain Saturday night closed with nothing worth mentioning. It was then that the Bank applied to Lord Liverpool for an Order in Council to suspend cash payment. A conference took place between Lord Liverpool, Mr. Huskisson, the governor of the Bank, and Mr. Baring. The suspension of cash payments was happily averted, chiefly as it was said by the accidental discovery of a box of one-pound Bank of England notes, to the amount of a million and a half, which had never been issued, and which the public were content to receive.’ Mr. Tooke, however, states in his ‘History of Prices’ (Continuation, vol. iv. p. 342) that the lowest amount of the banking treasure was on the 24th of December, 1825: Coin, 426,000ℓ.; bullion, 601,000ℓ.: in all, 1,027,000ℓ. The passage in the text refers of course to the banking department only.]