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Foreign News
September 27, 1796
Gazette Of The United States, & Philadelphia Daily Advertiser
Philadelphia, Philadelphia County, Pennsylvania
What is this article about?
UK Chancellor secures 200,000 bank loan via Mr. Pitt to cover Civil List arrears, criticized as bypassing Parliament and risking constitutional checks.
Clipping
OCR Quality
95%
Excellent
Full Text
The Chancellor of the Exchequer has happily prevailed on the bank to advance 200,000, in order to pay off one quarter's arrear of the Civil List. Mr. Pitt was obliged to make three journeys to the bank before he persuaded them to make this advance. The loan is given, we suppose, on the security of the growing produce of the Consolidated Fund. - This may be truly called a drop in the ocean of national necessities; but so far as it goes, it is not very reputable in the directors of the bank to do; since it is an advance of money without the authority of Parliament; and may pave the way for further deviations of the same kind. A Minister has only to prevail upon monied men to assist him with funds, to make all the checks of our Constitution, waste paper.
What sub-type of article is it?
Domestic Finance
Political Commentary
What keywords are associated?
Bank Advance
Civil List
Mr Pitt
Consolidated Fund
Parliament Authority
What entities or persons were involved?
Mr. Pitt
Foreign News Details
Key Persons
Mr. Pitt
Outcome
advance of 200,000 to pay off one quarter's arrear of the civil list, on security of the growing produce of the consolidated fund.
Event Details
The Chancellor of the Exchequer prevailed on the bank to advance 200,000 to pay off one quarter's arrear of the Civil List. Mr. Pitt made three journeys to the bank to persuade them. The loan is without Parliament's authority and may lead to further deviations.