text_original: The Bank Charter Act, separating the issue from the b anking department of the Bank of England, limiting the issue of notes to a fixed amount of se  curities, and requiring the whole of the further circu  lation to be on a basis of bullion, and prohibiting the formation of any new banks of issue, is a character  istic and an important measure of Peel's Government. 312 A HISTORY OF OUR OWN TIMES. on. an. * To Peel, too, we owe the establishment of the income tax on its present basis — a doubtful boon.
text_transcription: THE BANK CHARTER ACT SEPARATING THE ISSUE FROM THE BANKING DEPARTMENT OF THE BANK OF ENGLAND LIMITING THE ISSUE OF NOTES TO A FIXED AMOUNT OF SECURITIES AND REQUIRING THE WHOLE OF THE FURTHER CIRCULATION TO BE ON A BASIS OF BULLION AND PROHIBITING THE FORMATION OF ANY NEW BANKS OF ISSUE IS A CHARACTERISTIC AND IMPORTANT MEASURE OF PEEL'S GOVERNMENT TO PEEL TO WE OWE THE ESTABLISHMENT OF THE INCOME TAX ON ITS PRESENT BASIS A DOUBTFUL BOON
phonemes: ðə bˈæŋk tʃˈɑːɹɾɚɹ ˈækt, sˈɛpɚɹˌeɪɾɪŋ ðɪ ˈɪʃuː fɹʌmðə bˈiː ˈæŋkɪŋ dᵻpˈɑːɹtmənt ʌvðə bˈæŋk ʌv ˈɪŋɡlənd, lˈɪmɪɾɪŋ ðɪ ˈɪʃuː ʌv nˈoʊts tʊ ɐ fˈɪkst ɐmˈaʊnt ʌv sˈiː kjˈʊɹɹᵻɾiz, ænd ɹᵻkwˈaɪɚɹɪŋ ðə hˈoʊl ʌvðə fˈɜːðɚ sˈɜːkuː lˈeɪʃən təbi ˌɔn ɐ bˈeɪsɪs ʌv bˈʊliən, ænd pɹəhˈɪbɪɾɪŋ ðə fɔːɹmˈeɪʃən ʌv ˌɛni nˈuː bˈæŋks ʌv ˈɪʃuː, ɪz ɐ kˈæɹɪktɚɹ ˈɪstɪk ænd ɐn ɪmpˈɔːɹtənt mˈɛʒɚɹ ʌv pˈiːlz ɡˈʌvɚnmənt. θɹˈiːhˈʌndɹɪd twˈɛlv ɐ hˈɪstɚɹi ʌv ˌaʊɚɹ ˈoʊn tˈaɪmz. ˈɔn. æn. ˈæstɚɹˌɪsk tə pˈiːl, tˈuː, wiː ˈoʊ ðɪ ɪstˈæblɪʃmənt ʌvðɪ ˈɪŋkʌm tˈæks ˌɔn ɪts pɹˈɛzənt bˈeɪsɪs — ɐ dˈaʊtfəl bˈuːn.