120
from safe and sound principle
in
monetary legislation
later
well 200 net
entail upon
the Community
where the experiment is tried, evils
counterbalancing the immediate
advantages which mere
proposals
may
offer.
Banking regulations
framed up
with
great
care,
embodying
speculative principles. The Colonial
were drawn
and they
the accepted principles
of safe Banking. To mischief, these
can
ensue if they
are obeyed.
If in the process of
time competent
Judges
of each
change
themselves
are
of the matter think that
required, the Regulations
should
be modified.
upon a consideration of general
principle; again, if the circumstances
of a particular Colony
demand
and
burthen
exceptional legislation, the
of proving the necessity lies on those
who plead it, and
the demand
should
be
carefully
considered:
by the Secretary of State, with
assistance of this Board, before
any
action
is taken. But My Lords think it a most dangerous
innovation