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These bills were hurried through both Houses as
fast as the forms of Parliament would allow. All of them had for their
object the relaxation of the stringency of the money laws; and one Act
permitted the issue of one pound notes for ten years longer, _i.e._,
to 1833.
Trade immediately revived. Labour became abundant, and everyone,
high or low, in the country, felt immediate relief and benefit.
Unfortunately, with the return to prosperity came the usual unwise
rebound in public feeling. Everything became _couleur de rose_. The
wildest joint stock enterprises were projected. Capital, obtained on
easy terms of credit, was forced into every branch of commerce. Trade
was pushed beyond legitimate requirements. Imports of cotton, wine,
and silk increased so far beyond their usual amount, that the rates
of exchange turned against this country. The Bank of England, in
self-defence, "put on the screw." Money invested in distant countries,
in speculative operations, was now badly wanted at home.


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