proprietor who had just addressed the court.

In his opinion the main cause of the recent monetary crisis was that, while we had bought 275,000,000 L.worth of foreign produce in the year 1865, the value of our exports had only been 165,000,000 L., so that we had a balance against us to the amount of 110,000,000 L.He believed that the Bank acted wisely in resisting every attempt to increase the paper currency, and he felt convinced that the working classes would be the people least likely to benefit by the rise in prices which would take place under such a change.
Mr.Moxon said he should be glad to know what was the amount of bad debts made by the Bank during the past half-year.

It was stated very confidently out of doors that during that period the directors had between 3,000,000 L.and 4,000,000 L.of bills returned to them.
The Governor of the Bank .-- May I ask what is your authority for that statement?
We are rather amused at hearing it, and we have never been able to trace any rumour of the kind to an authentic source.
Mr.Moxon continued--Whether the bad debts were large or small, he thought it was desirable that they should all know what was their actual amount.

They had been told at their last meeting that the Bank held a great many railway debentures; and he should like to know whether any of those debentures came from railway companies that had since been unable to meet their obligations.

He understood that a portion of their property was locked up in advances made on account of the Thames Embankment, and in other ways which did not leave the money available for general banking and commercial purposes; and if that were so, he should express his disapproval of such a policy.