The Sun.
London, England, 1804-06-15 00:00:00

do not feel that any temporary Cause.; v;111c11 a&ed ,
upon specie, have a reference to this principle-.

JAMES WARRE, ESQ. MERCHANT IN LONDON)

EXAMINED.

Have you any dealings with Ireland ?--Some,
but not very considerable. My principal mercantile
concerns are with Portugal, and from thence with
Ireland.

Is there a separate exchange between Ireland and
Portugal ?=—None regularly established; whilst the
exchange between London and-Dublin was nearly at
par, it was customary to make payments for wines
from Oporto in Dublin, and the exchange was then
commuted at par ; since the variety and fluftuation
of the exchange between Dublin arid London, the
payment is made in sterling in London.
Does the Irish importing merchant suffer by, the
high rate -of exchimge ?--Certainly;, inasmuch as he
is obliged to make good the sterling money in Lon-
don, let the rate of exchange be what it will.
Do you apprehend that the same loss awaits the
Irish merchant dealing with other foreign c ,untries
as with Portugal,' while the exchange flu tuates so
highly ? —Obv may; when Ireland is 1,, make good
the amount of die invoke of the goods he receives
from -any other foreign cLuntry, in London.

WILLIAM CONINGHAM, MERCHANT IN LONDON,

EXANIINtD.

Da you know any thing of the exehange between
Ireland AndLonchm ?—I recasinn,,hy de:,l in ex,.
change; 1 leave been unvek.,,int i►); F r 2..) years,
hut it is not the .principal.chj.•6}
Has it hitchhiked greatly ill Litt ?—.Very much ;
20.. pr cent.. is the highest.

Do you think that—tl,at high exchange, ana„ the
fluctuation, arises from the balance of debt solely ?
I do not.

Do you think the balance of debt sufficient to
cause the high exchange I—l do not think it pos.
sible in so short a space of time, as the
rate of excnaoge has been in an advance.
Can (Vans in exchange raise that .exchange be-
yond its ordinary course I—l am inclined to think
it might be p,,siible. _ _ _

1.),) not you think that a higher rate of exchange
hat, been owing, in a considerable degree, to the
m(xle in which the dealing in it may have been car-
ried on 1-4 do not.

To what causes do you attribute. it ?—Solely to
the depreciation of Irish Bank Notes in Ireland.
'Row does that depreciation affe6l the exchange ?---"
I think that when foreign bills are to be paid in the
currency of any country, which currency is in irs
own nature of an uncertain value,: in such case, I
think, the exchange will always be against that
country. By uncertain value, I mean a depreciated
value.

As Ireland is now situated, if the depreciation
of the paper ceased there, are you of opinion .ex-
change would come to a par, or near it ?—I am of
that opinion, undoubted,y, because I think, though
it may appear paradoxical to some people, that ex-
change has never, within the last .five years, been
above par, for money with Ireland,' but a very high
nominal exchange has existed, when bills upon,Lun.
don were to be paid for in Ireland Bank Notes.
When exchange was 2o per cent. what was the
depreciation of paper ?-1 2 per cent. or thereabouts.
In your opinion, what are the causes of the de-
preciation of paper in Ireland ?—1 think it most
probable there is too much paper in circulation ; I
have no data to ascertain its amount, but I appre-
hend it is a great deal more than it ought to be.
When do you apprehend this over issue of paper
commenced ?—lmmediately after the restritlion
upon the issue of gold.
Can you state the amount of the excess of circu.
lating paper ?—I have been informed that the circu-
lating paper of the Bank of Ireland was at the time
of the restriftion, 600,0001. and I
,have been in.
formed that it is now z,600,0001. ; in addition to
that, I have also been informed, that there has been
a very 'great additional issue of private Bankers
Notes in Ireland, chiefly in Dublin.
Is it your opinion that the reducing the circulat-
ing paper of Ireland within its proper bounds, would
reduce the exchange to par ?—lt is not ; but it
would tend towards it.

Do you know of any other cause 'which contri-
Autes to the high exchange, except the excess of
paper ?—I think another considerable cause is, the
great sums to be remitted to absentees, and the in.
terest of the public debt dui by Ireland to Great
Britain.

(To be continued. )

NEWCASTLE, JUNE 12, „

LAA week, as several workmen, who had been
employed in pulling down an old farm-house at
Galla-hill, near Morpeth, were cleating away the
rubbish, an old bag was taken up, which, on being
lifted, went to pieces, and discovered an immense
quantity of old coins.- On examination, they pros.
td to be gold, and of the coin of Charles I. with
the legend Carolus D. G. Mag. Br. F. et Hi. Rex,
and XX. behind the head, to denote its value in.
shillings; and on the
_reverse, round the arms,
Florent Concordia .Regna. They were all, nearly
the breadth of an half-crown, but very thin, andi
on being weighed, were found to be of .the value of
rt. tod.'each. Some of the workmen. had appropri-
ated the greatest part of the treasure to themselves,
before it was discovered ; but the proprietor of the
house was soon apprized of the circumstance, and
with difficulty recovered; perhaps, a tithe of the
whole.