Peel explained that Parliament had the power, in terms of the Act of 1833, to reconsider the charter of the Bank of England, provided it did so within a few months. The state of the nation demanded, in his opinion, that Her Majesty's Government should accept this opportunity. He therefore asked members of the House to give consideration to the subject no matter what pressure should be applied to them by country bankers who feared curtailment of their existing privileges.


Last modified 26 June 2002