England relieved by an issue of Exchequer bills.

1807-9. Great speculations in flax, hemp, silk, wool, etc.

1810. Recoil of speculation,--extensive failures, and great demand for
money.

1811. Parliament adopts a resolution declaring a one-pound note and a
shilling legal tender for a guinea.

1814-16. Heavy losses and bankruptcies,--failure of two hundred and
forty country banks,--the distress and suffering of the people compared
to that in France after the bursting of the Mississippi Scheme.

1819. Law passed for the resumption of specie payments in 1823,--after a
suspension of twenty-seven years.

1822. Great commercial depression throughout Europe,--agricultural
distress,--famine in Ireland.

1824. Speculations in scrips and shares of foreign loans and new
companies, to a fabulous amount.

1825. Recoil of the speculations,--run upon the banks,--seventy banks
stop,--a drain of gold exhausts the bullion of the Bank.

1826. Depression of trade,--government advances Exchequer bills to the
Bank.

1832. A run for gold,--bullion in the Bank again alarmingly reduced.