The British Press; or, Morning Literary Advertiser.
London, England, 1804-06-06 00:00:00

11014,7

•
348 per
Cent.t.
no Cent ......71j
t.
..
.................................
per Cent Ow:.
5 ',to Cent. Navy....
5 per Cent. Li O.JI
bong Anti IN S-16
Short Annuities ....."
.....
Imperial :Slier Ct.... . I
' - -

EXTRACT
?ROM MINUTES OF OVTOPOCI
Teti n .re the Convoirtess appointoi to enquire into the
h: 0e 01 Ireland, as to its Circulating Paper ; its Speeie anti
Corrent Coin; and, the teen Ulf, between that part of the
United Kingdom sod G reat Britain.
The Right Hon. JOHN POSTER, is the Chair.
DILCONO REPORT.]

Do you not mean that the difference between the
exports and the imports, which it is necessary to
pay for, may be discharged by the means of tempo-
rary advances by the banks or mercantile houses of
the other country ?—Certainly ; and I look upon the
establishment of the two charter• I banks in Scotland
to be of great use and importance in this point.
When Bills at twenty days are taken in discharge
of balances from one Bank To Another, is there any
and what allowance made to the bank receiving such
bills in payment ?—None ; these bills are taken at
par as specie.
Is it not the present custom of the Edinburgh
Banks to give bills on London at a fixed date for
their own notes offered for payment in Edinburgh ?
—Yes.

•
thotourn ............
limb+ Stork
Ditto K mds. .........
Snutta Ira Sleeks •vo•o • .... •
Old AII II tillidd•• • • ......... •
New ditto ' .......
3 pet Cent.17)1...........

[Continued from our ?spot' of Satuoiso
Jarrsn Msesencs, Esq. again Examined.
HavinF Men shenrn his former examination, and
the question, " What was the nature of the currency
of Scotland at the time the exchange was most
against it ?"—he answered, It was principally paper,
and that to a greater extent than the natural trade of
the country required ; at the same time the demand
for specie from the two chartered Banks was so great,
that they tried the experiment of issuing Notes, with
al optional clause of paying either on demand, or
at six months sight, with the legal interest ; this
only continued for about fourweeks in the year 1762;
they tried the same method in the year 1763 or
1764, for about three months. The DireCtors,
finding it rather increased the evil, and tended
greatly to distress the country, sent one of their
number to London to pmmote a Bill in Parliament,
ornhibbing the optional clause on Bank Notes atter
the 15th May, 1776, which measure was afterwards
confirmed by MI of Parliament. After this period
the c'; uttered Banks of Scotland, finding that they
had given imprtrient credits to bankers and their
agents who issue Notes, they curtailed them very
much, and tut off th.• credits of the agents of the
country Banks who held ac,. sots with them; the
Banks likewise increased their capitals, and, as for-
merly stated. drew liberally to every person who
came with proper paper.
What do you mean by the word " credits ?"
There are two methods of the Bsaks giving credit ;
the first is by discounting tli!ls, and the next is by
giving cash accounts, the mo re of which is lending
money either upon personal or heritable security,
but mostly upon personal security : personal secu-
rity implies sureties by bond.
Have Vbur cha'tered Ranks any branches ?—The
Bank of Scotland : as 20 ;:ranches, and more, esta-
blished th-org: out different parts o. Scr ''.r.d; their
parrieniar rh .a i . to do and transact :•
same manner the mouser ; they i•si, e tie
Notes of the mother Bank moor J., cheat far t!.-t ;our-
pose.
Arse they convertible into spec.: at those Banks
—The Notes are on:y payable in sp.vie at the mat: her
Bank; bet all the real custonicrs isc the mother
Bank, or branches, ant accommodated with specie
hi those branches.
Do they non, pay at the mother Bank in specie
'Toy of thine Notes which are offered?---Yes ' • as
there is no testrittion on the issue of specie ia Scot-
laud. they are bound so to pay.
Have you yet found any inensmnience in Scot-
land, to coosec. :race of the reetriltion not extending
to the chartered Banks of Scotland ?.--As rumours
of invasion arise from time to time, there is a greater
demand for specie; but I know of no other inconve.
11;114. e; by keying strißly, and not altering the ex-
char. heamen Edinburgh and London, wings go
on as a. • sore,
Siam the iyAriclinn, has there been any diminu-
tion in • peas t--No; I rather apprehend there has
been more since, in the Banks, though not in circu-
lation.

Ditto Annuities • 9 5-191
Irish 5 per Cent
II on Annuities

..... ..... .
Ell.7llert.i Balla .......
rng. Ti.0
HMO< for ..........
India or ..................
Jy . • .....

Defem d St,.ck.

Nu. 4,

7. RISH, Stark • R.,4c.r.
tornhill, and As Cliarkt CgOok

Was it not the custom, antecedently to 1761, or
1762, for the Edinburgh Banks to give bills on Lon-
don at a rate whith was not fixed for their own
notes offered in payment In Edinburgh ; that is to
say, at a rate depending on the flunuation of the
exchange!—Yes, I have always understood they
gave bills on London at a rate accotding to What
they understoi4 to be the existing tate of exchange:
When the fluCtuating Exchange, which ydu Late
stated to have existed before I 7ti i, or 1768, was put
an end to by the introdu3ion of the custom of the
Banks giving Bills on London at a axed date, do
you understand that all the Banks, public and pri-
vate, at once came to an agreement to make this
change in their system of drawing ?--I cannot speak
as to the private Banks; but the chartered Banks
understood one another, and the rest were obliged
to follow.

PRICE OF IRIS!! STOCKS.
Government Deb. 5 tr.:r Cent ftk
Ditto Stock 5 per Cent 511 ; es
Ormd Canal Loan, 6 pen Cent.
.96

COAL EXCHANGE, Juee 4.
Rest C 0314, 111 the Pool, per ankh°ll 4R5. NI.
IM,veted t 6 14uutekeeper..tt 60e. let
Suo<lelAnet, pier Chaldre3 4•.5. 11j.
Llelirered to Heueekeepele at s4t. Gd.

HIGH WATER AT LONDON BRIDGE THIS DAY,
46 mm. after H

SALES 1W AUCTION.

..m.m.••••••.6
PICIIJR FS.
By Mr. RICIIARDSON,
At his House, No. 31, iw the Strand, THIS DAY, at
Twehw /Mock,
A SmaIIGenuineCOLLECLION of PICTURES:
among them, it u presumed, will be found Ullll4 b) 614
following ‘l4.ters :
Artois %failure. A del Sa-to.
Basin, Blare!, N'an de Veldt.,
Caanaeci, Pyliaker, Wilruts,
Duatinichine, Pulembergh, ie. &c.
worthy the 31,,iitinti of the Coutteiateur. The 1.'4/ erty of it
Gentleman in the Country.
To be viewed, and Ott.-tlugne. had of Mr. Riehard.ion, No.
:31, Strand

How many private Banks arc there in Fdinburgh ?
—I cannot
Did the change operate materially to the incon-
venience or prejudice of the private Banks ap-
prehend not; but, on the contrary, for their good, as
the country benefitted by the measure.
Has the exchange continued steady since that
time Nig-It has never varied at all.

Whethn. a ly great demands for Bills on London
from the Edinburiel Banks were made at the time
of that change, and in consequrenc• of it ?—There
was a great demand at first, but it gradually de-
creased as the exchange wrsreduccd.
Were those demands made on all the Banks, or
the public Banks alone ?--Principally on the public
Banks.

VALUABLE LAW AM) PARLIAMENTARY LIKRAR Y
By Mr. JEFFERY, •
_

At hi: Promo, N.) 11, Pall- THIS, and Three fnlh wing
Days, at Twelve o•Clock, by Order of the Rsecutors,
THE GENUINE and VALUABLE LAW
LIBRARY r,t
The Right lion. RICHARD, Lord ALVANLEY,
Lord Chtet JUSUCC Of HO Majesty's Court of Common Meets

Did the public banks increase their capital at that
time?—No, but they called in that part of their ca-
pital which had not been paid up, to the amount of
10,0001. sterling.
Do you know the amount of the paper circulation
of Scotia-. i, previous to this change ?—1 do not.
Do yo.t not conceive that the change of the system
which took place, had the Oral of diminishing, in
snrle 'legree, the quantity 01 paper circulation which
had existed immediately before certainly do
think so, as I have already stated; it was in conse-
qaence of there being more paper in circulation than
the situation of the country required.
Do you conceive that the augmentation of paper,
which had taken place prior to the change of system,
had resulted from a too great extension of the paper
of th•• old 'Banks, public and private, or from the
issue if the paper of :;auks recently instituted ?
From both.

deceased.
Including all the Reports ef Cuesargued in the Courts
of l.aw ; all the Abridgment., Indlin•s, Tables, o,artins,
Books Oil the Constitution,
_Ciewn, ?tut Parliament; being
the most general Collection of Lill and Cuostitational Rooks
that have ever been offered to P.,blic Sale AI/Wiles! a Variety
of unser. equally valuable are, the Statutes at Large by R et-
head ; the State Trial., It vols. A complete Set of the Par-
liamentary .tourisal., 10.3 vols. The ParlianlPMary ile.tory aid
Debates, the Political State, 60 rub. &c.
'1 o Ise viewed rill Ike Sale; C.atalogmn to tie had, price lc

EIBLIUTHEC A D'URVILLIANA.
By LEIGH, SOTHEBY, and SON,
At their Home, na York-street, Covent Garden, TO. MOE-
EoW, June 7, and Foe following Day* (Sunday atc..,•tesl!,
as Twe,te o'clock,
IF: reserved part of the PRINTED BoOKS
of tit_ !ranted Scholar and erase, JAMES PUHA!'
D'ORVILLE, deceased September 14, OM. Continuator of
the Miace'lanes Oboarsationsaa; 1 ditur of Chariton, dime*
%rannut, de„

Had the unfavonr state of exchange com-
menced nearly at the time when these extraordinary
credits were given, and :be new Banks were insti-
tuted ?--Much abou. that time.
Was the over issue of paper prior to the unfa-
vourable state of ese lisp , or subsequent ?--ker-
Willy was prior, a. •t. caws, of the system
being altered, which rein :ie,l the rate of exchange;
and I certainly think it the over issue of paper
was the cause of the 1 is h rat. of exchange.
Do you conceive that since the change of the sys-
tem, the balances of :ne cash accounts kept by the
Edinburgh banks with their correspondents in Lon-
don have been more duluating than before ?--I do
not conceive they have hen more Aulhiating, ex-
cept in times of rubl c .-n-rcantile caLunhy, such as
in 1792 and 1797. •

Many of the Books contain Marginal MS. Notes of various
emusent Sch..lars and &Iwo&

Is there as mach cirenlltion of specie in Scotland
since the restriction as before it ?—I think fully as
nisch, though not given so freely in change, between
MI atarrufaCturer and another.
Does gold bear a premium there ?—it does not ;
silver costs us a premium to obtain it of about II per
cent
Are guine..s bought and sold for a premium ?--
Not is Scotland.
Is -. '. ”apex depreciated ?—Not in the least.
In what nianner are the balances of the different
banking houses a3;usted in Seot:and ?—They must
either pay in specie or Bank of Englan4 Note!, or
give bills on their correspondents in London, at the
par rate of 20 days.
Is there any period at which such mode of adjust- '
ment took place in your recollettion ?---It has been as
long as I remember.
When ready money in Edinburgh is naid for a
Bill, payable at 20 days date on Gordon, does not
the remitter pay an exchange on hit bill equal to the
value of the interest for 20 d vs on the sum re-
mitted ?.—Yes, because the par beceecn Edinburgh
and London is at 40 days.
When a bill is drawn at 40 days, :i:•es rt:• tl
remitter pay a higher .-schange than vs:/-n •'!.m., • a
2n ?--.Certainly not, rakers; ise than that 'here is i
difference iii the interest berrt-en the 20 cliys and
the 40.
Why do you call 40 days the par ?.—Because v. r
have found from e. :r •iiiSce, that it has ....riswe,t 1
the intercourse betwe..l Edinburgh and London.
fn estinneng the interest on a Bill of exchatge
payable in Loniion, should it be calculated by the
retainer at :, per cent. or at the medium rate of
riereanee profit 1-1 cake it at 1 pe- cent.
Does not a bill or draft drawn in Edinburgh on
London at sight, titmr a premium ?—h certainly
does ; a premium of 20 days, or absolver cent.
Do you not consider the 20 or 00 days harm to
he 4 compensation in the nature of cornmhsies, for
the trouble attendant on the transaltion, rather than
)- NS any proof that the exchange between the two is
- ant at par ?.-.I decline answering the question, as
being it matter of opinion.
Me you of opinion there is any exchange between
London and Edinburgh ?—1 refer to my iGi at; r an-

To be viewed till the Time or Sale.
Catalogue (Price 6d.) to be had at. Mr. Cooke, Oxford
Mr. Dcigliton, Cambridge; and at th.- place at Sale.

BOOKS and ILI.USTRATIOIfS fro STRUTT'S DLC-
TiONARY of ENGRAVERS
By Mr. RICHARDSON,
At his House, N 0.31, ..1 the Strani, on FRID .1Y tn6xt, •t
weave o'Clocki
ASmall LIBRARY of BOOKS in Bond con-
&tau., indodidg Ctree's Memoirs of Lord ;
'lour to Monniciotishire, 2 vols. large leper; Hunan" He.
-oilogia; Points Worthies of Dcvoit ; Dictionssaire I':r-ro•
mine et Critique, par Bay% 4 tom.; Hifirttre'S Voyages, v. 4 • .
in It us.ia ; Cortis's Flora Londinensis, with coloured ;
Dr. Thumton's New 111,:strations of the Sexual System of L.. -
nous; four curious ‘'olusees of MS I I.•raldry ; a C•41.-eti.es
of Book and halt Catalogiies, with their prices; Strut's (le-
gionary of Engravers, large paper, interle.ived, with klildimo,
and near Thirteen Hundred specimens of the Graphic Art, io.
laud in paper, tilliiofT to bind with the Work, the prverty
Of A GENTLEMAN.
Tn be viewed To-niormw and the Morning of S ; Cat -
logo a may be had of Sir. Clarke, Bookseller, Beoduurset ; and
of Mr. RlChArdlol7, Nu.3l, Strand.

Do you then mean, that in the ease of a fixed
exchange, it is necessary for the Edinburgh Banks
to possess larger funds in London, as a provision
against any distressed s• 't- of credit in Scotland,
than it would be naves to keep if there were a
Anduating exchange, •s there was at •iie period
antecedent to 1763 whtn ex.:ha..ge is fixed,
I do not apprehend is .1 necessary to have more
funds in London than Nhen it was in a fluiluating
state.

Has any iticonr, ,ence of any kind resulted from
the • f ~..c sy•tem, except the temporary one
f,f %le banks having to provide funds in London at
the commencement of it ?-0n the contrary, it has
beta produeive of the greatest good.
Flow long was it before the exchange was brought
tow fixed rate was done gradually, in the
cow se of about two or three years.
Do you apprehend that any considerable dif-
fivulty, or any evil consequences would arise from
suppressing the circulation of all one pcond notes,
u di in F.nglawd, Scotland, and rreland, at the end
of twelve months, supposing she restridioo to con-
tinue ?—f do think it would be impossible to carry
on business in Sci..thend, if we were restrided from
issuing tl. cr IL Is. notes, while the restrieion
cent inues.

GENTEEL FURNITURE, JAMAICA ROW,
LIMEHOUSE.
By Mr. PAULIN,

wEnsFsn kY, June 111, 11104, at Eleven, _on the Pro-
ni ora. NO. .1, Jamaica. Row, Commercial Road, Litnishows-,
FrIlE Neat HOUSEHOLD FURNITURF,
1 China, tslass, Fists Prints, &c. of Mr. Thom ,a
pir.l, rem,ri.+6 t.r the arsuntty : comprising Mahogany FP/f-
-rost aid Tvnt Bel.tradt, with Cotton and Dimity Foraitun.,
flue v...i-orierl Goo.. Featherbeds and kfabogai.y
Wardnalie, ditto ilnuii!e and single Clieit. of Drawers, hfahn-
gum itail-tiv:r and plain Chairs, ditto Dining, Card, abd Pem-
broke Tables Wilton and giddermiaater C..rpet%, Pawls:on
Stoves, K.tot:cu Requiems, lie
MolY be viewed on Tuesday, :.nd tin the Tine of Svle on
Wcdarscley. Catalogues may •..k. had on thr .set ; ..t the
Plough Tavern, ; awl of th. Auction.% r,
street, Ratcl.ff —The House to be Lett. and may be Proofed ur
at Midsummer tine Property.

Do you not apprehend that Ole absolute neces-
sity of guineas for pa) ments under 51. would cause
guineas to come into circulation ?—As lons as the
restridion of the Bank of England continues, it
wonld be impossible to get guineas.
Are there any notes under 11. in Se-Aland ?
None ate .dlowe, to he issued, as the Al of Par-
liament has expired.
What is your opir.lon of silver notes :—That
they tend to make silver specie disappear altoge-
ther ; and the Ranks of Scot! end never is:.ted any.
How k the business carried on without those
notes ?—By silver coin.
Have mon plenty of silver coin get it from
Londol from our correspondonts, for winch see p..y
a small premium, besides the expeace of r..-riage. ;
we have no cocci coin now in cire-ilatieti ; it is all
sterl.og.

NEAT HOUSEHOLD FUR NITIJ 't E. &c. Llhlkllt iLbL
By Mr. I'AULIN,
On TUESDAY, June 19, 1804, and futlnwiaa Day, at riser
041 the Premises, Met ttl.! Commercial Linteheu. ,
by order of the Executors of the late Truman I fa doh!, Evy
ALt. the Neat and Genuine HOUSEHOLD
FUR NITUR F, China, Gltiai, &c. t tmpn.,r g • elrgant
Thaer.nil, Ron, Sint, in Wu, ihnlll.lk, of Setts, Clisirs, and
French WllbeinW cart:Gni', exie.l....nt Mahogany Wardrobes.
dAto double alba single Chet, ut Diaweis, Secret al", and
Buolereses, Infty Maltugsny F.iurpost Brdvteads, with Covina.
Dimity, and Morine Furniture and Window Curt tins tuie
seasoned Goose Featherbeds and Bedding, Brussels and Kidder.
iiiinAer Carpets, Mahogany earr,xl and plain Chair., I) n
Card and Pentbnitte Tables, hide Boards with Cellarer., Pier
and Dreoing Clissei,a Table Clock, two Ulla Day Cl. e s, an
excellent Wit. and White Ckitta Table Service, Kiev ea Re-
quiutes, and great Variety el nibs, Effects.
May he 'newel one 1.).,y pretesting the Sale. when Cat:.
!nw,s may be bad 'us lbe Premises; at the Ship 1 ase :
1N...1t,),•111-street ; at the 11"u:0 Tavern,
the Auc•lOnaer, Bruad.screct, Radcliff.

COURSE OF EXCHANGE. Tuataat, /VMS S.
Amweniain .... el $ 11 U. Venter lB
Unto at light.. $7 6 Naples
Rntterdam O. F.. 11 19 Liaban
ll•nibuegh..... ?II •0 UR. 014.10
Alton .4 IIP Dubl,ii
Pans ss I
I/002 Us 170 16 '7 U. sraainal. 1. a. I.
bwurdeaux .3) 36 1 Portugal Gold in Colo
Madrid
DUO 344 Doubloons
Cseiz
La•tts
Rilhos
L-givegi ......
Genoa 43 41 per Cent.

mfr.
Are you of opinion there is a balance of trade,
and remittances against Scotland with England
Yes, I should oink so.
Whether such a state of thin7s as.c.:lld nut create
as exchange unfavourable to Scoti.iiiii ?•—I appro.
-0. Lend, that a mutual comniunicati ,n of trade may
ezist between the twu couutrirs, uitisout creating
/any exchange at
1.-ndon: Printed by 3. lit-ace, No. t;oldnotth's-court, Great New-street, and publisi.ed by W. XVIIST, at the Office. No. 15, Ba?k of St. Clement's, Strand. Advertisements, and Conutinnicatioua
the Fdit'sr, received at the Office, ari isy the following Book-1,41c1%; Miubre. Baleen mad So-, Great Ruseel-ereet, Coves.;-garden; Mr. I. Kraals, No 190, Oxford-street; Mr. Row, Nu. 27, Great Marlhoria,ya-
P 'Arse;; Mr. liarcti sin No. 190, Piccadilly Mr, Beate, Bridgesssurct, Wesnuinster ; Mesas. MigfigaluDfn art' Co. No. 92, Borough; Messrs. PA asoNs; and SON, Ludgate-hill; Mesas. Oets.vy and Solt.
)io. 315, Holborn ;Mr. J. Asexime, Cornhill ; Mr. k•fitivaps, Minority ;I. and J. Haanv, No. kin, High-street; Shaderell; Mr. (:eaerxt, No. 66 Pall Mall; Mr. lit v wot os, No. 137, Uttord-st: ct
the 'Principal Booksellers in the Um's& LIPUDOPI.

'n en London ( %fa,
dt4fant Ull Lund° ( Mal
DOAK on Dublin (M.ty

so) 111
291.. 64
19) 616 i days.

(To be cn.lCnutd