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SIR ROBERT PEEL observed, when he introduced the Bank Bill of 1844, that in the opinion of Her Majesty's Government, “ Inquiry had been exhausted.”
Since the passing of that Act, the subject of the Currency has been much discussed. A Committee of the House of Lords and a Committee of the House of Commons have made valuable reports on the commercial distress of 1847, which was supposed by many to be closely connected with the system of banking introduced by Sir Robert Peel's Bill; the witnesses are not agreed upon the influence which the Bank of England may have had in producing or aggravating that distress, nor are the Committees agreed upon any remedial measures; the Committee of the House of Commons recommending no alteration in the Act.
Since these reports were made, a Committee of the House of Commons sat in the last session of Parlia