those quiet habits, which are required from them under that state of things now prevailing in the empire.  That, my Lords, is the real cause of the distress under which they are at present suffering.  Besides, your Lordships will recollect, that the population of the country has enormously increased; and it should also be taken into the calculation, that the power of production by machinery has increased in an incalculable degree.  As much can now be produced in one year, as formerly could be produced in five years; and the produce of one year now amounts to more than can be taken off our hands in a year and a half, or even two years.  Distress, therefore, has occurred, notwithstanding that the utmost exertions have been made to repel it; and notwithstanding the great and general prosperity of trade throughout the world.  My Lords, the plain fact is, that owing to the alterations of trade—­a great demand at one time, and a want of demand at another—­the manufacturers, and those engaged in commercial pursuits, must sustain considerable distress at different periods.  It has been recommended as a remedy, that Government should go back to the system of the circulation of the notes.  Now, my Lords, with respect to the one-pound bank notes—­it will be well to recollect what has been the proceeding of Parliament on that subject.  In 1826, Parliament having seen the facility with which speculations could be undertaken by persons possessing no capital, in consequence of the circulation of those one-pound bank-notes—­looking to the evils that resulted from those speculations, and finding that a great number of banks in the country had failed in consequence of such speculations—­thought proper to pass a law to prevent the circulation of this species of paper, after the lapse of three years.  A noble Lord has said, that this measure of Parliament occasioned the failure of a great number of country bankers.  But, I beg the noble Lord’s pardon, he has not stated the fact correctly.  Most of the banks which about that period failed, it ought to be recollected, broke previously to the meeting of Parliament.  The fact is, that it was the breaking of the banks which occasioned the measure, and not the measure the breaking of the banks.  But we have now accomplished the measure adopted in 1826; that measure is now carried into execution; the currency of the country is now sufficient; bank notes, 5l., and above 5l., in value, are in circulation; and I will assert this fact, that there is at present more of what I may call State currency in circulation—­more notes of the Bank of England and sovereigns—­a greater quantity of circulating medium of those two denominations, than there has been at any former period before the late war, or before the Bank Restriction Act was passed.  I beg leave, my Lords, to ask, what want is there of any additional circulation, when the circulation is at present greater than it ever was?  Is it necessary to have a more extended circulation, to afford the means of procuring loans