The British Press; or, Morning Literary Advertiser.
London, England, 1804-05-24 00:00:00

At the tine the seta were toceived at 91 per
cent. what was the rate of exchange of Loulon un
Dublin believe it was here 101 • but I am cer-
tain as to Dublin, that when the house of Bogle.
French, and Co. were taking in Bank of Ireland
notes here for the loan 1800, their agent in Dublin
was drawing upon them to a much greater amoun
(at 91) than they were exchanging Lae at the Bank
of England.
Why did your correspondeat draw at that rate of
exchange from I reland ? Because we I iad ags eed with
goveinment to take in Bank of Ireland notes at 9.,
for the English proportion of the loan of '2,500,0001.
which was ab.,nt 1,700,0001..0 be paid to the trea-
sury of Ireland. _ _

Did the exchange fall here at any time so low as
94 during. the above operations ?—Not that I re-
member, it would have been under the staadard if
it had ; because a bill on Dublin a' '2l 41.4)s sight,
which regulates the exchange, w0u1.2 not have been
so valuable as a Bank of Ireland note.

If the restridion on the payment of specie by the
Banks of both countries were taken off, would it
relieve the difficulties of Ireland as t I currency and
exchange ?—Cettainly.
Could it be taken off the Bank of Ireland, with-
out being taken off the Bank of England, kith safety?
1 think it could nut.

Can you assign any reasons ?—Because specie be-
ing at premium in both countries; even if the Bank
of Ireland had sufficient to answer its own circula-
tion, the wants of England would extend to it and
bring over the specie.
Are you of opinion that the restridion could be
safely taken off the Bank of England ?—I think not.
The other remedy you proposed being paper, as
gold could not be had for a common circulating me-
dium, and a consolidation of the banks being the
means in your opinion of procuring a common pa-
per between the kingdoms, exchangeable in either
country, do you think that would be any effalual
remedy ?—Yes, for currency and exchange.

Are the inconveniencies which Ireland feels, in re-
sped of currency and exchange, temporary ?—Yes.
Should you think it wise to adopt perpetual means
of consolidating the banks to remove a temporary
evil ?—I think that the measure of consolidation
would ad fa7ourably to Ireland during war, and
that in peace it could do no harm ; and if unfortu-
nate circumstances should again bring back a re-
newal of the existing evils, that it would prevent
the ill rife.% now complained of from returning
with them

In case the two Banks should disapprove of the
cansnlidation, does any thing else occur to you to
alleviate or remove the evils ?—1 think, in such a
c;rcunastance, if a loan, suppose of 3,000,0001.,
was raised in London for Ireland, that the taking in
of that loan at the Bank of England in Rank of Ire-
land notes, at any fixed rate of exchange below the
existing exchange at the time, would reduce the ex-
chai ge on all opetations betsreen England a.i,l Ire-
land to that keel, as long as Bank of Inland notes
continued to be so received at the Bank of England,
and assist the currency of Ireland in the same de-
gree exaaly as it assisted the exchange.
Would not the sending of Bank of England Notes
into Ireland havethe same al.& ?--It wotll.l precise-
ly, so long as those notes arose from a loan, ur any
demand which Ireland got upon England.
Would the supposed loan of 3,000,0001. operate
AS a permanent remedy, or would the measure re-
quire to be repeated to produce permanently the fa-
•,,urable 'frets stated ?—I have stated it to be an
alleviation of the distress of Ireland, and not a per-
manent remedy; and I think the good eireas would
last so long as the loan continued steadily to be
taken in at the fixed rate of exchange.
Do you conceive, that by the operation alluded to
the isue of Irish Bank Notes would be augmented ?
Ido not think it would materially. In the former
loans transmitted on this principle, the Bank of
Ireland had an interest to enlarge their issue of notes
in order to bring them over, because these notes
were exchanged to the first instance for Bank of
England Notes, which produced a quantity of
specie in return, and this specie being paid into the
Bank was a justification for an enlarged issue; but
in the present circumstances, when the remittance
of a loan probably would not produce the remit-
tance of a guinea to Ireland, there could be no jus-
tification fur an enlarged issue.

[To be cont,nued

CORN-EXCHANUL, Wausicsou, MAT J.

Having many of Monday's remaining samples of
Wheat in hand, and several fresh arrivals to-day,
make a good supply ; the best ready keeps izs
price—but other sorts have difficult sale, and at
loss. Fine Dantzic stis. per quarter. Rye at less ;
and having no large q t.rntity of Barley or NIA!,
keep up their prices. LW: conic in good supple ;
and to-day they fetch a small advance. In tir:icr
articles no particular v.t:i.ttion. Fine 13
hoar :2.is. to „ifs per barrel. of Icv.t. 3qrs.