The following is the general outline of a arrangement by which the above difficulties would be effectually removed:---Unlimited competition, with power to the minister, or to any competent authority, to reject the offer which ought according to the general rule to be accepted: power also to the offerer to call upon the minister, or competent authority, to assign their reasons for such rejection. When all this is done publicly, no attempt would be made to reject the offer of a man, who, together with his sureties, was known to be perfectly responsible.
A praise to which one of the most celebrated ministers in England is justly entitled, and about which there is no difference of opinion, is the having, with more consistency than any of his predecessors, followed this principle. Mr. Pitt divested himself of this source of influence, so dear to ministers, and opened a free competition for all contracts and all loans. It is unnecessary to point out the advantages resulting from this just and liberal policy: they are known to all tho world; and the example set by him has been a law to his successors.RR Book 1 Chapter 15