[451] Sir J. Sinclair, "Hist. of the Public Revenue," ii, 143.
[452] Pitt MSS., 272; "Parl. Hist.," xxxii, 1517; Gilbart, "History ... of Banking" (ed. by E. Sykes), i, 46. On 25th February 1797 Pitt wrote a memorandum (Pitt MSS., 102), stating that the crisis was due to the too great circulation of paper notes by banks having limited resources. Their stoppage affected larger Houses and paralysed trade. He had wanted to meet the City men, who met on the 22nd to discuss the situation, but failed to agree on any remedy. Finally they agreed to meet at the Mansion House to discuss the issue of Exchequer Bills. Coutts, on 19th March 1797, informed Pitt that gambling in the Prince of Wales' Debentures, which exceeded £432,000, ruined the market for ordinary securities (Pitt MSS., 126). Sinclair had vainly urged Pitt to compel bankers to find and exhibit securities for the paper notes which they issued ("Corresp. of Sir J. Sinclair," i, 87).
[453] H. F. B. Wheeler and A. M. Broadley, "Napoleon and the Invasion of England," ch. ii, have proved this.
[454] "Parl. Hist.," xxxiii, 473–516; "Hist. of the Mutiny at Spithead and the Nore" (Lond. 1842), 61–2; "Dropmore P.," iii, 323.
[455] Pitt MSS., 102. Lord Mornington deemed the surrender to the seamen destructive of all discipline in the future ("Buckingham P.," i, 373).
[456] Holland, i, 84–91.
[457] "H. O.," Geo. III (Domestic), 137.
[458] "Report of the Comm. of Secrecy" (1799), 23; App., v, vi.
[459] From Mr. Broadley's MSS.
[460] Pitt MSS., 189. See, too, "Life of Wilberforce," ii, 217; Windham ("Diary," 363) saw Williams on and after 13th May.