n this subject see the Short History of the Last
Parliament, 1699; Narcissus Luttrell's Diary; the newspapers of 1696
passim, and the letters of L'Hermitage passim. See also the petition
of the Clothiers of Gloucester in the Commons' Journal, Nov. 27. 1696.
Oldmixon, who had been himself a sufferer, writes on this subject with
even more than his usual acrimony.]

[Footnote 704: See L'Hermitage, June 12/22, June 23/July, 3 June 30/July
10, Aug 1/11 Aug 28/Sept 7 1696. The Postman of August 15. mentions the
great benefit derived from the Exchequer Bills. The Pegasus of Aug. 24.
says: "The Exchequer Bills do more and more obtain with the public; and
'tis no wonder." The Pegasus of Aug. 28. says: "They pass as money from
hand to hand; 'tis observed that such as cry them down are ill affected
to the government." "They are found by experience," says the Postman
of the seventh of May following, "to be of extraordinary use to the
merchants and traders of the City of London, and all other parts of
the kingdom." I will give one specimen of the unmetrical and almost
unintelligible doggrel which the Jacobite poets published on this
subject:--

"Pray, Sir, did you hear of the late proclamation,
Of sending paper for payment quite thro' the nation?
Yes, Sir, I have: they're your Montague's notes,
Tinctured and coloured by your Parliament votes.
But 'tis plain on the people to be but a toast,
They come by the carrier and go by the post."]

[Footnote 705: Commons' Journals, Nov. 25. 1696.]

[Footnote 706: L'Hermitage, June 2/12. 1696; Commons' Journals, Nov.
25.; Post-man, May 5., June 4., July 2.]

[Footnote 707: L'Hermitage, July. [3]/13 10/20 1696; Commons' Journals,
Nov. 25.; Paris Gazette, June 30., Aug. 25.; Old Postmaster, July 9.]

[Footnote 708: William to Heinsius, July 30. 1696; William to
Shrewsbury, July 23. 30. 31.]

[Footnote 709: Shrewsbury to William, July 28. 31., Aug. 4. 1696;
L'Hermitage, Aug. 1/11]

[Footnote 710: Shrewsbury to William, Aug 7. 1696; L'Hermitage, Aug
14/24.; London Gazette, Aug. 13.]

[Footnote 711: L'Hermitage, Aug. [18]/28. 1696. Among the records of the
Bank is a resolution of the Directors prescribing the very words which
Sir John Houblon was to use. William's sense of the service done by the
Bank on this occasion is expressed in his letter to Shrewsbury, of
Aug. 24/Sept 3. One of the Directors, in a letter concerning the Bank,
printed in 1697, says: "The