If such a measure had been in operation during the Late Commercial Crisis, many houses which had sunk and been ruined under that pressure, would have been saved, and be now in a sound and flourishing condition.

In 1838 further evidence was taken, and the governor of the Bank of England was asked, "What effects do you think were produced by the repeal of the usury laws in relation to bills of exchange during the Late Commercial Crisis"?

During the Late Commercial Crisis, men looked on with astonishment at what was taking place—nobody knew where it would end.

Now the hon. Member for Droitwich indeavoured to enlist their sympathies in behalf of personal friends, who had, he regretted to add, been ruined in the Late Commercial Crisis, without the least reference to the circumstances of the case: such considerations, however painful to do so, he must discard.

Unlimited liability induced the managers and directors of joint-stock banks to carry on a much larger business than was warranted by their capital,—in fact to trade not upon the paid-up 1180 capital, but upon the private resources of their copartners, and this had greatly aggravated the evils of the Late Commercial Crisis.