t state of affairs did not permit the British
government to accede to such an overture, and no notice was taken of the
application. On the contrary, a treaty, about this time, was concluded
with the King of Sardinia, by which England bound herself to furnish a
subsidy of L200,000 annually, to be paid three months in advance;
and not to conclude peace with France without comprehending in it the
restitution of all territories belonging to that monarch when he engaged
in war.

RELIEF GRANTED TO MERCANTILE MEN.

At this period, through the spirit of commercial speculation, there
occurred an unusual number of bankruptcies. A select committee was
appointed by the commons to investigate this subject, and it was
discovered that large issues of paper money and a scarcity of coin had
induced bankers to suspend their usual discounts, in expectation of
which merchants had formed engagements they could not meet. As a remedy
for this evil an issue of exchequer-bills to the amount of L5,000,000
was recommended, under commissioners to be nominated for the purpose of
lending portions to those merchants in distress who could give security.
This bill was objected to as ineffectual against failures, and as
opening a way to the exercise of improper patronage by government, but
it was carried, and the relief proved beneficial.

RENEWAL OF THE EAST INDIA COMPANY'S CHARTER.

It was generally supposed at this time that the charter of the East
India Company, which was on the eve of expiration, would be abolished,
and that the whole Indian trade would be thereby thrown open to
British enterprise. The public expectation however, was doomed to be
disappointed. On the 23rd of April Mr. Dundas brought the question
before the house, in consequence of a petition from the company, and
after taking a view of the prosperous state of India under the present
system, he brought in a bill for the renewal of the charter for twenty
years, which passed without a division. At the same time Dundas
proposed certain regulations, tending to promote a free trade, but not
interfering with the company's charter.

RELIEF OF THE ROMAN CATHOLICS OF SCOTLAND, ETC.

In the course of this session a bill was passed for the relief of the
Roman Catholics of Scotland from certain penalties and disabilities
imposed upon them by acts which incapacitated them from holding or
transmitting landed property. Towards the close of the session, at the
suggestion of