The British Press; or, Morning Literary Advertiser.
London, England, 1804-05-19 00:00:00

NAVAL INTELLIGINCt.

DEAL, SCAT 17.
Arrived and brought to anchor. in Walmer Roads.
the Calais squadron, consisting of the Chamlnun and
.14 Me /Ca frigates ; Basilisk gun-brig; Orestes and
Dart sloops of war.
Cause down from the River, the Cett'orq, out-
ward-hound East Indiaman, and remains in the
Downs, with the r •st of His Majesty's ships, as per
last --Wind S.S.W.

thinking on this part of the sublet, not knowing
the constitutions of the Banks, but looking at them
as two corporations with trusts and powers for pub-
1k and private purposes ; and I see no reason why a
consolidation or partnership should not be formed
between them, consistent with the general purposes
for which they were constituted, and th 4 the stock
of the Bank of Ireland Proprietors might be trans-
ferred to their credit in the Bank of England, so as
to become B.ink of England stock; and that the
Bank of England should adopt all their engage-
ments, and get possession of all their assets ; the
business of Ireland would thon be carried on by di-
reaot 5, eledled by the proprietors of the joint stock.

Which set of Diredors would you propose to he
subordinate to the ether i—l would not prefer tither,
nor aoy subordination except what the proprietors
might dired.
Do yon know the epinion of the directors or pro-
prietors of each Batik, as to the eligibility of thi
plan ?-1 know it would be for the interest of the
Bank of Ireland proprietors to accede to it ; there-
fore I conclude their concurrence could easily be
got. I have heard different opinions entertained by
the Bank of England Diredora on this subjed, some
approving of the plan, others disapproving of it. I
believe the Bank of Ireland Directors are against
it.. I have no idea of tit., opinion of the Bank of
Ein Proprietors on the sneja.
Do you think it would have any effect disadvanta•
geous eo ::rent Britain ?—I do not.
Has this proposal been submitted to a Conn of
Direittors of the Ranks of either kingdom ?—I never
keara that it had.
Have you observed that the periods of the greatest
alarm in Ireland have been those when the depre-
ciation was the greatest, and the exchange the most
unfavourre.de ?—I suppose die question alludes to
the invasion in 17.0, and the rebellion in 1798. In
1796, the Bank Of Ireland were paying in specie,
therefore there could not be any depreciation ; and
the exchange was fro m the same canse, as well as
the balance of debt being greatly in favour of Ire-
land. le pt tinder p.:r. In 1796, the loan raised in
England of 1,500,00tr1. for the set vice of Ireland,
was r.:mitted by the administration in Bank of Eng-
land reaes, which, meeting a currency not depre-
ciated. and an exchange highly favourable, were
nag viated at various rates of exchange, not exceed-
ing 6 per cent. by which means the paper of the
Bank of Ireland was kept on a par with specie at the
time the rebellion was at its greatest height, and
dose to Defilin ; and these two moments of the
greatest alarm to Dublin. therefore passed without
producing any effed either upon her currency or
exchange.
Do you conceive the period immediately prece-
ding the rebellion to be a period of alarm ?—I do.
Do you conceive that if it had not been for the
measure adapted hy Government alluded to, that
tae exchange would have been more unfavourable to
Ireland in 179 e, than at the p...ieut time?-1 do
think that for a part of that period-it would.
Do you believe that the vice you haye described
in ehe private Bank paper of Ir land could have
taken place, if there had been no !ncreaied issue of
the national Sank notes ?--I do n.n think that the
issue of natiorul Ilan!. notes assists in any manner
the extension of die issue of ptieitte bankers notes : 1
think diet the meae, of cluatrie,„ like individuals,
are limited, and if Ireland possesses a meiinm
cx.e Cod equal to her property, which is usuall)
represented by a medium, that it is inteossllsle fur
her to hold another ; therefore, if possessed of Bank
of behind notes equal to this °hie.% that there is no
room for the issue of private bankers notes : and I
do not think that the issue of paper in Ireland is too
great, because I think the property of Ireland, bu-
ried wider ground, exceeds whit is circulating in
the shape ut paper, and that in Eta she has two CA-
Do you not think that a medium may represent
more at one time than another ?—1 air, inasmuch
as it is subject to depreciatitia.
De you believe that 6 per cent. is the legal inte-
rest of !retina ?—Yes.
Do you believe that the Bank of Ireland is under
the necessity of discounting at 5 per cent ?--By their
charter they are precluded f.om taking a higher
rate. _ _ . _

Have you heard that there are distinCl treasuries
in Ireland for the Board of Ordnance and Barrack
Board ; and that the payment of the army and yea
manry are intrusted to the miliury agents never
heard there were treasurh 6 attached to those Boards,
but I hav r heard there are agents fur the payment
of the are and yeomanry.
Can you form any opinion of the issues of a cir-
culating medium necessary fur the payment of those
establishments ?—I cannct.
Do you conceive it to be a million ?—I do. '
Do you think if Dublin private bankers have ac-
quired sufficient influence with the respeCtive agents
of such military bodies, and the treasuries of such
establishments, to pay in their private paper all
claims upon such establishments, And to distribute
through the kingdom all pay to such military bo-
dies. that it isweakaess of credit in :he national Bank,
and not the superior activity of such Banks which
pushes private paper into circulation think the
credit of the Bank of Ireland ought to stand higher
the r the credit of arty individual Bank, and that its
noes should be pit., !:::1 in all payments, and Ell,
• fore I think these lindint should he paid in the aa-
tional paper.
Do you conceive that upon the whole, the paper
currency of Ireland bee: a greater proportion to its
wealth and trade in.. dad for ..:me years preview;
to Cu Lank ?--Maki. g an allowAace for
the quantity cf gold n'thcirawn from circulation,
from being Incimil u?, and odic: way s, I do natthir.k
it bean a greater propo:
I Lem you any means of kn.-ming, with any de-
gree of certainty, that the circulating medium of
lrel.ind is nut enessive ?—f have nn certain means;
but when I tecored the quantity of sui:ne is which
went to that country, and have no k.:cnled,;•.e rf an .-
large propurt'ut of them coming hack, I do not
think the p..nrr exceeds in amstint the crainary
pr:pottiun %%Lich paper bore to

-„rt, Great New—trett, and yoat)li:rea by W.
.inr• : Nlomvs. DA *KEIL .and Sow, Great
,tr r, Bri ise-' We• rn•tst.l.
l'a last. anz, I?noriec iI. and J. 11.LauT, No. il;

Do you enneelre that the unpmentation of the
quantity of the circulating medium of a country
tends to produce a depreciation of it ?—I think it
does, when pushed beyond the means of the country.
Do you not conceive that an extremely bad state
of the F.schange is an indication of such deprecia-
tion?-1 think it is an indication of it, though not
a certain proof of it.
Do you conceive that the depreciation of the Irish
paper arises from a want of *confidence in it ? I do.
Do you mean by want of confidence, a doubt
whether the Banks which issue it are ultimately
solvent?--1 do not ;1 am perfealy satisfied that no-
body questions the solvency of the !lank of Ireland,
or the judicious administration of it ; and that it
arises solely from political causes, external as well as
internal.
Do you mean by want of confidence, a doubt
whether the Irish paper may not become extinguish-
ed, in consequence of convulsions in that country ?
I mean a doubt whether the Bank may not suffer
materially from the effeas of invasion, or rebellion,

in its property.
Do you conceive that if the Bank of England were
to guarantee the credit of the paper of the Bank of
Ireland, the amine of the Bank of Ireland Paper
would be raised ?—I think it would, during a war
between Great Britain and France.
Do you think thatif the Government were to gua-
rantee die credit of it, the value of-the Bank of he-
land paper would be raised think it would ;by
Goverment I•mean Parliament.
Do you not conceive that if the Bank of Ireland
were proprietors of a large sum in the British funds,
the value of the Bank of Irelend paper would be
equally raised?--I do not think it would.
Would not the Government in that case be as
much bound to sustain the credit of the Bank of
Ireland, to the extent of such property in the British
funds, as they would be found in the other case to
sustain the general credit of the Bank?--I believe,
as far as the property in the British funds went, it
would at as a partial guarantee, but it would have
no further effeft. •
Might not then a coneiderable enlargement of the
capital of the Bank of Ireland, and the investment
of such augmented capital in the British Funds,
conduce, according to the principles you have stated,
to raise the value of the paper of the Bank of Ire-
land ? I think it nlet-aft as a larger but limited
guarantee, and have no effete% whatever on the pro-
perty in Ireland not covered by such guarantee.
Would not all the debts of the Bank of Ireland
necessarily be rendered mare secure of payment, in
evert possible event. by means of such property in
the funds, or, in other words, he guaranteed by such
property in the funds ?—I think that the engage.
ments of the Bank of Ireland, so far as they were
covered by this investment in the British funds,
would be rendered mote secure, but no further.
Do you think the Irish funds in which the British
capital is invested ultimately less secure than the
Braisti funds ?—I always conceived that the Irish
funds were adapted isy this country by the union,
and stood cn equal ternis.
How then da• year state- that an investiture of
capital in the British funds would confer any greater
security than that in the Irish funds?—lt would not
convey any greater sezurity.
Whether in speaking to the Parliament be'ng
bound to maintain the property of the Bank of Ire-
land in the British funds, you do not consider it
equally bound to maintain any property the Bank of
Ireland may have in the Irish funds ?—I do.
[To be continued.)

PRICE OF IRISH STOCKS.
• MAY I 4•

~...Rni

I:4overnrnetat Deb. b per Cent.—
Dittn, 51 net cent ..•..
viva Stuck, 't per cent.
Tree-tire B Pa, ISJ t, 5 11PC rent p .r.
Grand Canal Loan, ft per 07
Ditto 4 let cent.
Royal Canal Loan, 6 per
City BoGelit, i per cc ....

nt-,
59i

COURSE OF EXCIIA
AmWerdain .... 32 4 21IU • Venice SO
Ditto at Sight .. 37 II Naiik.
Rotterdam .... 12 32 U. Li.bon
Da.nburgh..... 56 3 2 U. , Opo-to
Altana 36 4 24U 1 Dahl.° l7j
Pan. 23 10 Liv.
Ditto 21 IS 2 U. llMlLl'oit.
eiturdeaux 21 IS 1 PortugalG.;.,l iii C•iin
Madrid
Dion
Ca lie
Dino
Hilboa
Leghorn 4B Agit, on OR nAllt: o tion....id
Glow 43 31 per Cent.

~..KIE, F.IDAY, MAT IS.

1.,

}4ahlio oo London (Mt; 14 1 1
Begirt on I.moton rMap 14 6 7
Belfast on thabhu Nay 14) 1 61 dace.

CONL EXCHANGE, MAY IS,

)best Coals, ill the Pool, Ch3l4hOu 4St. 04.
Delivered to nous-keeper+ at 60% Od.
Sood-t1 out, per eh/Alma /2. 04.
De:,v,red to I fotis•Acee:Pes At AM DI.